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Motilal Oswal has buy call on Cholamandalam Investment & Finance Company with a target price of Rs 650. The current market price of Cholamandalam Investment & Finance Company Ltd. is Rs 544.
Cholamandalam Investment & Finance Company Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 44544.31 Crore) operating in NBFC sector.
Financials For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2479.80 Crore, down -1.61 % from last quarter Total Income of Rs 2520.48 Crore and up 14.51 % from last year same quarter Total Income of Rs 2165.57 Crore. Company reported net profit after tax of Rs 245.32 Crore in latest quarter.
Cholamandalam Investment Q4 net profit up at ₹243 crore
May 07, 2021
CIFCL reported loan losses of ₹504 crore - Getty Images/iStockphoto×
FY21 net profit rises 44% to ₹1,515 crore
Cholamandalam Investment & Finance Company Ltd (CIFCL) reported a zoom in its net profit at ₹243 crore for the quarter ended March 31, 2021, as against ₹43 crore in the year-ago period.
The company’s total income grew 14 per cent at ₹2,461 crore as against ₹2,151 crore in the year-ago period. “Net income margin grew 32 per cent at ₹1,342 crore (₹1,016 crore)”, according to a statement
CIFCL reported loan losses of ₹504 crore, which included additional overlay of ₹350 crore for the quarter, as against ₹557 crore in the year ago quarter.
Read more about Financials shares fall on Business Standard. Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 156.26 points or 2.09% at 7313.76 at 13:49 IST.
Financials stocks were trading with gains, with the S&P BSE Finance index rising 146.64 points or 1.94% at 7703.16 at 09:48 IST. Among the components of the S&P BSE Finance index, Religare Enterprises Ltd (up 7.34%), South Indian Bank Ltd (up 6.1%),Satin Creditcare Network Ltd (up 5.51%),Dewan Housing Finance Corporation Ltd (up 4.8%),Cholamandalam Investment & Finance Company Ltd (up 4.74%), were the top gainers. Among the other gainers were Magma Fincorp Ltd (up 4.24%), MAS Financial Services Ltd (up 3.82%), General Insurance Corporation of India (up 3.62%), Shriram Transport Finance Company Ltd (up 3.4%), and IIFL Securities Ltd (up 3.31%). On the other hand, Dolat Investments Ltd (down 3.24%), Spandana Sphoorty Financial Ltd (down 2.87%), and Bank of Maharashtra (down 2.7%) moved lower.
Mahindra CIE Automotive Ltd registered volume of 24.25 lakh shares by 14:14 IST on NSE, a 15.55 fold spurt over two-week average daily volume of 1.56 lakh shares
Central Depository Services (India) Ltd, Cholamandalam Investment & Finance Company Ltd, Poly Medicure Ltd, PNB Housing Finance Ltd are among the other stocks to see a surge in volumes on NSE today, 15 February 2021.
Mahindra CIE Automotive Ltd registered volume of 24.25 lakh shares by 14:14 IST on NSE, a 15.55 fold spurt over two-week average daily volume of 1.56 lakh shares. The stock rose 19.19% to Rs.200.30. Volumes stood at 1.03 lakh shares in the last session.
Central Depository Services (India) Ltd registered volume of 49.43 lakh shares by 14:14 IST on NSE, a 5.11 fold spurt over two-week average daily volume of 9.68 lakh shares. The stock rose 6.55% to Rs.573.30. Volumes stood at 23.12 lakh shares in the last session.