Magma Fincorp is currently trading at Rs 70.55, up by 0.40 points or 0.57% from its previous closing of Rs 70.15 on the BSE.
The scrip opened at Rs 71.15 and has touched a high and low of Rs 74.80 and Rs 68.55 respectively. So far 25322 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 87.00 on 15-Jul-2011 and a 52 week low of Rs 48.10 on 18-Nov-2011.
Last one week high and low of the scrip stood at Rs 75.70 and Rs 63.35 respectively. The current market cap of the company is Rs 1327.18 crore.
The promoters holding in the company stood at 33.70% while Institutions and Non-Institutions held 55.47% and 10.84% respectively.
Magma Fincorp is planning to begin gold finance business in the first half of financial year 2013. The company is a non-deposit taking non-banking financial company (NBFC) and the new segment -- gold business -- will come under this. Further, the company will start its retail housing finance business during the next fiscal following Gold business.
The NBFC, which deals with commercial vehicle, car and utility vehicle finance, construction equipment finance, tractor finance, and SME loans among others, has a capital adequacy ratio of a capital adequacy ratio of 20.3% by December and doesn't need more capital to support its loan growth in the next fiscal.
Total disbursements of the company have grown by around 50% to Rs 1,915 crore in the December quarter.
Magma Fincorp has posted a 57.5% drop in its net profit to Rs 13.89 crore in the third quarter of current financial year on the back of forex loss along with change in accounting policy by the company. Net profit stood at Rs 32.68 crore in the same period last year. Total income of the company saw a 23.5% rise to Rs 278.22 crore during the quarter ending December.
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