Mahindra & Mahindra Financial Services is currently trading at Rs. 267.20, up by 1.00 points or 0.38% from its previous closing of Rs. 266.20 on the BSE.
The scrip opened at Rs. 267.85 and has touched a high and low of Rs. 268.80 and Rs. 265.60 respectively. So far 63725 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 346.40 on 04-Jul-2023 and a 52 week low of Rs. 243.90 on 30-Oct-2023.
Last one week high and low of the scrip stood at Rs. 268.80 and Rs. 261.20 respectively. The current market cap of the company is Rs. 32994.83 crore.
The promoters holding in the company stood at 52.16%, while Institutions and Non-Institutions held 40.57% and 7.27% respectively.
Mahindra & Mahindra Financial Services (Mahindra Finance) has obtained a Certificate of Registration from IRDAI (Corporate Agency License) to act as a ‘Corporate Agent (Composite)’ under the Insurance Act, 1938. This license would enable Mahindra Finance to offer tailored insurance plans to its customer base, enhancing the company’s customer centric approach.
The corporate agency license would help in broadening Mahindra Finance’s product portfolio by incorporating insurance solutions. It would help customers with their financial and insurance needs being met by a single entity. The process would augment the company’s existing sources of revenue and profits as it deploys its common infrastructure of branch network and feet on street.
The company’s foray into Corporate Agency business is accompanied by a robust compliance framework, including policies, procedures, and internal controls, to ensure adherence to regulatory requirements mandated by IRDAI.
The corporate agency license will enable Mahindra Finance to solicit, procure and carry on the business of selling, distribution, advertising, marketing of all kinds of insurance products/ services including life insurance, health insurance, general insurance on behalf of various Insurance companies as a corporate agent as permitted by IRDAI.
Mahindra Finance is one of India’s leading non-banking finance companies.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 6910.10 |
| Shriram Finance | 2896.85 |
| Aditya Birla Capital | 183.15 |
| SBI Cards AndPayment | 675.20 |
| Mah & Mah Finl. Serv | 266.75 |
| View more.. | |
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