MMFSL advances after large bulk deal

Mahindra & Mahindra Financial Services gained 3.72% to Rs 309.45 at 14:38 IST on BSE after 0.3% equity changed hands in a bulk deal on BSE today, 15 January 2015.

A bulk deal of 17.30 lakh shares was executed on the Mahindra & Mahindra Financial Services (MMFSL) counter at Rs 309.25 per share at 11:17 IST on BSE today, 15 January 2015.

Meanwhile, the S&P BSE Sensex was up 712.43 points or 2.61% at 28,059.25

Bulk deal boosted volume on the counter. On BSE, so far 18.81 lakh shares were traded in the counter as against average daily volume of 1.83 lakh shares in the past one quarter.

The stock hit a high of Rs 310.90 and low of Rs 305 so far during the day. The stock had hit a record high of Rs 344.90 on 12 November 2014. The stock had hit a 52-week low of Rs 229.50 on 17 April 2014.

The stock had underperformed the market over the past one month till 14 January 2015, falling 0.47% compared with 0.01% fall in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 6.71% as against Sensex's 3.79% rise.

The large-cap company has equity capital of Rs 113.75 crore. Face value per share is Rs 2.

MMFSL's consolidated net profit fell 5.7% to Rs 219.35 crore on 14.3% growth in total income to Rs 1474.89 crore in Q2 September 2014 over Q2 September 2013.

MMFSL, part of the Mahindra Group, is one of India's leading non-banking finance companies with a pan India presence. Focused on the rural and semi-urban sector, it provides finance for vehicles and tractors and has the largest network of branches amongst NBFC's operating in these areas.

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