Mahindra & Mahindra Financial Services has appointed Bijoy Thaplial as the Chief Business Officer - Leasing, Partnerships, and Payments. With over 27 years of experience, Bijoy will lead Quiklyz (the vehicle leasing and subscription business), identify and foster meaningful alliances and strengthen the execution strategy across all payment products. He will focus on advancing leasing strategies, fostering partnerships, and improving payment and lending solutions to drive growth and enhance customer satisfaction. Bijoy has a career spanning various leadership roles across major financial institutions at Axis Bank, Royal Bank of Scotland, Standard Chartered UAE, HDFC Bank, GE-SBI Cards and INDAL where he consistently delivered strategic growth and operational excellence. He holds a post graduate diploma in management from Symbiosis Institute of Management Studies, Pune, and a Masters in Commerce from Pune University.Powered by Capital Market - Live

Mahindra & Mahindra Financial Services has appointed Mod Narayan Singh as Chief Compliance Officer, forming part of Senior Management Personnel (SMP) of the Company with effect from 19 August 2024. Powered by Capital Market - Live

The domestic equity benchmarks continued to trade near flat line with positive bias in morning trade. The Nifty traded above the 24,100 level. IT shares witnessed buying demand for the fourth consecutive trading session. Market will be volatile due to weekly expiry. At 10:27 IST, the barometer index, the S&P BSE Sensex, was up 43.99 points or 0.05% to 79,009.30. The Nifty 50 index added 1.40 points or 0.01% to 24,140.40. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index shed 0.11% and the S&P BSE Small-Cap declined 0.75%. The market breadth was weak. On the BSE, 1,394 shares rose and 2,221 shares fell. A total of 124 shares were unchanged. The domestic market will remain closed on Thursday, 15 August 2024, on account of Independence Day. Results today: Capacite Infraprojects (up 3.33%), EID-Parry (India) (down 0.93%), Entero Healthcare Solutions (down 0.75%), Gabriel India (down 2.31%), Glenmark Pharma (up 1.20%), Hindustan Aeronautics (down 1.03%), KIOCL (up 1.51%), KNR Construction (down 0.95%), Mazagon Dock Shipbuilders (down 1.78%), Pitti Engineering (down 0.45%), Red Tape (down 0.57%), RHI Magnestia India (down 0.69%), Reliance Power (down 1.84%), Suprajit Engineering (up 0.80%), Swan Energy (down 1%) Tarsons Products (down 7.58%) and Voltas (down 0.73%) will announce their quarterly earnings later today. Buzzing Index: The Nifty IT index gained 0.97% to 39,495.10. The index rallied 2.72% in four consecutive trading sessions. Tata Consultancy Services (up 1.52%), HCL Technologies (up 1.09%), Tech Mahindra (up 0.82%), Persistent Systems (up 0.65%), Infosys (up 0.52%), Wipro (up 0.5%), L&T Technology Services (up 0.25%), LTIMindtree (up 0.11%) and Mphasis (up 0.04%) advanced. Stocks in spotlight: Mahindra & Mahindra rose 1.39%. The company said that its total production declined 1.18% to 69,138 units in the month of July 2024 as compared with 69,962 units produced in the same period last year. NMDC Steel shed 0.96%. The company reported consolidated net loss of Rs 547 crore in Q1 FY25 as compared with net loss of Rs 861 crore in Q4 FY24. Revenue increased 9.6% QoQ to Rs 2,023 crore in the first quarter of FY25. Gujarat Narmada Valley Fertillizers Chemicals rose 0.05%. The company's consolidated net profit jumped 34.1% to Rs 118 crore on 22.3% increase in revenue to Rs 2,021 crore in Q1 FY25 over Q1 FY24.Powered by Capital Market - Live

Chola MS General Insurance Company, a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited of Japan, has announced a strategic partnership with Mahindra Finance, one of India's leading Non-Banking Finance Companies. This collaboration will provide motor and other non-life insurance solutions to over 10 million customers of Mahindra Finance. Leveraging Mahindra Finance's extensive distribution network across India, Chola MS plans to enrich its general insurance offerings with customized digital solutions. These customer-centric solutions are designed to provide long-term financial protection to customers and their families. Both organizations are committed to delivering excellence through innovation and consistency catering to the diverse needs of the customers.Powered by Capital Market - Live

For year to date (YTD) July 2024, disbursements increased 5% YoY to about Rs 17,270 crore. The company said that business assets Rs 1,07,300 crore, a growth of 5% over March 2024 and around 22% over July 2023. The collection efficiency (CE) was constant on YoY basis at 95% in July 2024. Stage 3 and Stage 2 assets have remained below 10% put together, it added. The company stated that it continued to enjoy a comfortable liquidity position on its balance sheet, with a liquidity chest of over Rs 7,600 crore. Mahindra & Mahindra Financial Services (Mahindra Finance), part of the Mahindra Group, is one of India's leading non-banking finance companies. Focused on the rural and semi-urban sector, the company has over 10 million customers and has an AUM of over $11 billion. The company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits. The NBFC's standalone net profit jumped 45% to Rs 513 crore on 20% increase in total income to Rs 3,760 crore in Q1 FY25 over in Q1 FY24. The scrip shed 0.34% to close at Rs 305.25 on Friday, 2 August 2024. Powered by Capital Market - Live

Mahindra & Mahindra Financial Services has allotted 3,560 Secured, Rated, Listed, Redeemable Non-convertible Debentures with the face value of Rs. 10,00,000, per debenture issued at a discount of Rs. 5,498.1939 per debenture and accrued interest of Rs. 72,956.2842 per debenture, aggregating to subscription amount of Rs. 380,01,50,801.48, on private placement basis. Powered by Capital Market - Live