Apart from the liquidity issue hurting most non-banking financial companies (NBFCs), tapering automobile demand has been a major concern for Mahindra and Mahindra Financial Services (MMFS), the non-banking lender that mainly finances new vehicles. As a result, MMFS’ stock has shed 24 per cent in the last six months, including the 10 per cent fall after lower-than-expected December 2018 quarter (Q3) results were revealed last month.
Yet, many analysts are positive given the company’s initiatives and a supportive rural economy. Original equipment manufacturers (OEMs), ...
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