This Mahindra Group company surged more than 5% today

Shares of the company hit a 52-week high.

Mahindra & Mahindra Financial Services announced a disbursement of roughly Rs 4,500 crore in November 2022, resulting in a 75% YoY rise. The favourable macroeconomic condition and demand in the economy are driving the growth of the disbursement.

A strong gross asset book of around Rs 76,300 crore, up about 3.4% from September 2022, is the result of healthy disbursement trends. As a result, growth has increased by about 17.5% since March 2022. In comparison to November 2021, when the collection efficiency (CE) was 94%, November 2022 saw a 96% CE.

The company said in the exchange filing “In November 2022, on the backdrop of a positive macro environment, the business continued its momentum with the disbursement of approximately Rs 4,500 crore delivering a 75% Y-o-Y growth. The YTD disbursement at approximately Rs 31,050 crore registered a Y-o-Y growth of 99%.”

Mahindra & Mahindra Financial Services is a Mahindra Group company which is an NBFC, primarily engaged in the business of financing new and pre-owned auto and utility vehicles, cars, tractors and commercial vehicles.

Mahindra & Mahindra Financial Services is currently trading at Rs 242.05 with an increase of 5.70% from its previous closing of Rs 229.0. The stock today opened at Rs 232.20 with a high and low of Rs 243.60 and Rs 228.50 as of 12:19 pm today.

The stock has given 29.65% returns in the last 6 months and 58.69% returns on a YTD basis. The stock has a 52-week high of 243.60 and a 52-week low of 127.95 with an ROE of 6.86% and ROCE of 7.44%.