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The 30-share pack Sensex added 254.03 points, or 0.50 per cent, to close at 51,279.51. Its broader peer NSE Nifty advanced 76.40 points, or 0.51 per cent, to 15,174.80.
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NEW DELHI: Progress on the stimulus front in the US re-energised bulls on Dalal Street on Wednesday and lifted benchmark indices higher for the third straight day.
The 30-share pack Sensex added 254.03 points, or 0.50 per cent, to close at 51,279.51. Its broader peer NSE Nifty advanced 76.40 points, or 0.51 per cent, to 15,174.80.
“With technology stocks doing well on Nasdaq, the day clearly belonged to midcap IT as the Street demonstrated increased appetite today for technology. Broader markets witnessed good investor interest in metal stocks. Several smallcap names across sectors were sought after as a lower interest rate scenario is seen beneficial to them,” said S Ranganathan, Head
Magma Fincorp locked in 5% upper circuit; stock zooms 114% in 2 weeks business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Magma Housing Finance eyes 20-25% growth in FY22
February 18, 2021
Manish Jaiswal, Managing Director and CEO, Magma Housing Finance. (file photo)×
Magma Housing Finance, which has been growing at nearly 17-18 per cent during the pandemic, is looking to grow by nearly 20-25 per cent in 2021-22, backed by a steady rise in demand.
The company, which is a wholly-owned subsidiary of Magma Fincorp Ltd, is looking to ramp up distribution and introduce a slew of digital initiatives, including artificial intelligence and machine learning, to improve efficiency in terms of customer acquisition and enhance productivity while bringing down costs.
According to Manish Jaiswal, MD and CEO, Magma Housing Finance, the company has reached the pre-pandemic levels of normalcy, both in terms of disbursals and collections. It expects its growth rate to be accelerated moving forward.
Read more about ICRA has placed Magma Fincorp s LT ratings on watch with developing implications on Business Standard. ICRA has given the following rationale for the same:
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