Magma Fincorp is currently trading at its upper circuit limit of Rs. 24.60, up by 1.15 points or 4.90% from its previous closing of Rs. 23.45 on the BSE.
The scrip opened at Rs. 24.60 and has touched a high and low of Rs. 24.60 and Rs. 24.60 respectively. So far 60377 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 119.55 on 10-Jul-2019 and a 52 week low of Rs. 12.70 on 28-May-2020.
Last one week high and low of the scrip stood at Rs. 25.00 and Rs. 21.70 respectively. The current market cap of the company is Rs. 663.02 crore.
The promoters holding in the company stood at 24.40%, while Institutions and Non-Institutions held 66.53% and 9.08% respectively.
Magma Fincorp has launched pro-bono business consulting services for Small and Medium Enterprise (SME) customers under a partnership with Wadhwani Foundation. Under the program the company will provide business consulting, digital learning management, program management office support and impact assessment to upto 1000 SME customers initially, to help them survive and grow, during and post COVID-19 crisis.
The company has moved with speed to provide assistance to the SMEs grappling with these testing times with the launch of the partnership. In the last 2 months the company has been providing assistance to MSME customers in the form of the MSME Interest subvention, Emergency Credit Line Guarantee Scheme (ECLGS) and Credit Guarantee Fund Scheme for MSEs (CGMSE).
Magma Fincorp is a non-deposit taking NBFC registered with the Reserve Bank of India (RBI) as an asset finance company. It started operations two decades back and is now listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).