262.9000 3.20 (1.23%)
NSE Sep 04, 2025 15:31 PM
Volume: 2.9M
High volume today

HDFC Securities
The extent of deterioration in asset quality was surprising, given the usual seasonal trends and the creditable progress made by MMFS until now. NIM improvement and growth trends were positives. As always, MMFS' performance is highly correlated with rural macros. MMFS stands to gain from any improvement here. MMFS 3Q earnings were slightly ahead of estimates, even as provisions remained elevated YoY (+11% QoQ). NIMs expanded QoQ after a prolonged fall and AUM growth was healthy. The increase in GS-III disappointed. Maintain BUY with a TP of Rs 425 (2.25x Dec-21E core ABV of Rs 181 + Rs 18 for MIBL)
Mahindra & Mahindra Financial Services Ltd. is trading above its 100 day SMA of 261.8
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