M&M Finance soars 10% as asset quality improves in September quarter

As on September 30, 2022, the company expects its Gross Stage 3 to be around 7 per cent as compared to 8 per cent in Q2FY23 and Gross Stage 2 to be around 10 per cent as against 11.7 per cent.

Shares of Mahindra & Mahindra (M&M) Financial Services gained 10 per cent at Rs 197.50 on the BSE in Tuesday’s intra-day trades on improvement in asset quality with stage 2/3 assets seeing a sequential improvement of 170bp/100bp in September quarter. The company maintained a comfortable liquidity position of over three months.

As on September 30, 2022 (Q2FY23), the company expects its Gross Stage 3 to be around 7 per cent (compared to 8 per cent as of June 30, 2022) and Gross Stage 2 to be around 10 per cent (compared to 11.7 per cent as of Q1FY23), M&M