Today’s stock market: Shares of Mahindra & Mahindra Financial Services (M&M Financial) increased their shares on Thursday, February 27 after notifying the board of directors that it approved the allocation of 50,000 non-transferable debt companies (NCDSs) to identify investors.
“We hereby inform you that, in accordance with successful tenders on the BSE Bond-EBP platform, the Board of Directors today approved the allocation of 50,000 unsecured, rating, listing, subsidiaries (TIER II), redeemable non-convertible review (NCD) (NCD) (NCD) ₹1,00,000 per bond is issued on PAR, with 8.30% of coupons each year issued to identified investors on a private placement basis, ten years from the date of allocation,” the exchange filing shared by the company today said.
M&M Financial’s BSE Limited Wholesale Debt Markets field lists the above NCDs.
Rating Action
India Ratings and Research (IND-RA) confirmed the Mahindra & Mahindra Financial Services’ “Long-term Issuer” rating as “Ind AAA” on February 26 with a “stable” prospect.
IND-RA, as part of its justification, said the ratings continue to reflect M&M’s credit strength and take into account M&M Financial’s diversified funding profile and the competitive cost of raising funds. “MMFSL has demonstrated an improvement in its profitability in 9MFY25 due to better margins and an improvement in its asset quality, as reflected in the reduced credit cost. Although there was an increase in MMFSL’s leverage due to grow in the loan book, Ind-Ra believes M&M will support MMFSL in terms of timely equity infusion as and when needed,” it added.
Stock price trends
M&M Financial shares rise 3% ₹279.30. In day trading, stocks rose 5.4% to reach the day’s high ₹285.75.
The stock has risen 5% in the past month and has acquired 4% in three months, which is against the ongoing stock market crash. However, over the longer six and 12 months, the script lost 11% and 3% respectively.
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