Mahindra & Mahindra Financial Services, Sonata Software Limited, and Blue Star may rise up to 10 per cent in the overbought territory of RSI.
Mahindra Finance is benefitting from the healthy sectoral tailwinds and its parent Mahindra & Mahindra's strong recovery in auto volumes.
On September 22, 2022, the RBI had directed company to immediately cease carrying out any recovery or repossession activity through outsourcing arrangements, till further orders.
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On September 22, the regulator barred Mahindra Finance from carrying out any recovery or repossession activity through outsourced agents
As per the charts, SBI and DLF need to conquer the near resistances at Rs 620 and Rs 420, respectively, for fresh gains to emerge.
The company recorded a disbursement of approximately Rs 4,500 crore in November 2022, delivering a 75 per cent YoY growth, on the backdrop of positive macro environment.
The derivative analyst from HDFC Securities recommends to Buy M&M Finance 220 Call and simultaneously Sell 230 Call of the 29-December expiry.
In October 2022, Mahindra Finance estimates the total disbursement of approximately Rs 5,250 crore, thus delivering 97 per cent growth over October 2021.