Shares of Mahindra & Mahindra Financial Services Ltd. hit a 52-week high as loan disbursements went up amid improved collection efficiency.
The company's loan disbursement rose 75% year-on-year to Rs 4,500 crore, while collection efficiency improved to 96% from 94% a year earlier, it said in its exchange filings.
Shares of the company traded 5.37% higher as of 1:15 p.m., compared to a 0.08% fall in the benchmark Nifty 50. Earlier today, the stock rose 6.27% to a 52-week high of Rs 243.60. The total traded volume so far today is 5.2 times its 30-day average.
Out of the 33 analysts tracking the stock, 17 maintained a 'buy,' 11 suggested 'hold,' and five recommended a 'sell', according to Bloomberg data. The average of the 12-month consensus price target implies a downside of 4.4%.
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