M&M Financial hits highest level since Mar 2020, soars 10% post Q3 results

Mahindra Finance is benefitting from the healthy sectoral tailwinds and its parent Mahindra & Mahindra's strong recovery in auto volumes.

Shares of Mahindra & Mahindra Financial Services (Mahindra Finance) hit over two-year high of Rs 267.30, as they rallied 10 per cent on the BSE in Monday’s intra-day trade amid heavy volumes  after the company reported healthy earnings for December quarter (Q3FY23). The performance during Q3 was characterized by further improvement in asset quality coupled with healthy growth in disbursements and asset book, the company said.

The stock of a leading provider of financial services in the rural and semi- urban markets traded at its highest level since March 2020. At 10:09 AM, the stock quoted 7.5 per cent