M&M Share Price Live Updates: M&M Stock Price History
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Economic Times
14 hours ago
- Economic Times
M&M Financial Services shares fall over 3% after mixed Q1 results
Shares of M&M Financial Services fell over 3% to Rs 257.3 on BSE on Wednesday, despite the company reporting a rise in net interest income (NII) and net profit for the June quarter. Investor sentiment remained muted due to elevated provisions and weaker collection efficiency. ADVERTISEMENT The company's NII rose 19.7% year-on-year (YoY) to Rs 2,267 crore and increased 5.4% sequentially. Net profit stood at Rs 530 crore, up 3.2% YoY, but down 6% from the March quarter. Profitability was dented by a sharp rise in provisions, which surged 44.3% quarter-on-quarter to Rs 660 crore, compared to Rs 457 crore in the March quarter. Pre-Provision Operating Profit (PPoP), however, rose 19.3% YoY to Rs 1,353 assets inched up, with Gross Stage 3 assets estimated at 3.8–3.9%, compared to 3.7% in the year-ago period. Collection efficiency declined to 95% in June, down from 97% in during the quarter rose 1% YoY, moderating from the 5% growth recorded in the same period last year. ADVERTISEMENT The company's Assets Under Management (AUM) grew 14.5% YoY to Rs 1.21 lakh crore. Also Read: Apollo Tyres, Brigade Enterprises among 10 small-cap stocks trading below industry PE; may rally up to 43% ADVERTISEMENT According to Trendlyne, the average analyst target price for M&M Financial Services stands at Rs 292, implying a 13% upside from current levels. Among the 33 analysts tracking the stock, the consensus rating is 'Hold'.Technically, the Relative Strength Index (RSI) is at 49.7, indicating neutral momentum. Meanwhile, the MACD stands at -0.3, below both the signal and center lines, signaling a strong bearish trend. ADVERTISEMENT The stock has declined 10% over the past year and is down 15% over the last two years. M&M Financial currently has a market capitalisation of Rs 36,076 crore. Also Read: 7 Nifty500 stocks with highest dividend yields. Do you own any? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
14 hours ago
- Time of India
M&M Financial Services shares fall over 3% after mixed Q1 results
Shares of M&M Financial Services fell over 3% to Rs 257.3 on BSE on Wednesday, despite the company reporting a rise in net interest income (NII) and net profit for the June quarter. Investor sentiment remained muted due to elevated provisions and weaker collection efficiency. The company's NII rose 19.7% year-on-year (YoY) to Rs 2,267 crore and increased 5.4% sequentially. Net profit stood at Rs 530 crore, up 3.2% YoY, but down 6% from the March quarter. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science Management MBA Data Science Product Management Public Policy others PGDM Cybersecurity CXO healthcare Others Project Management Digital Marketing Technology Healthcare MCA Data Analytics Operations Management Degree Design Thinking Leadership Finance Artificial Intelligence Skills you'll gain: Duration: 11 Months IIT Madras CERT-IITM Advanced Cert Prog in AI and ML India Starts on undefined Get Details Skills you'll gain: Duration: 30 Weeks IIM Kozhikode SEPO - IIMK-AI for Senior Executives India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Prof Cert in DS & BA with GenAI India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK DABS India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months E&ICT Academy, Indian Institute of Technology Guwahati CERT-IITG Postgraduate Cert in AI and ML India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How Much Does It Cost to Rent a Private Jet - The Prices May Surprise You! Private Jet I Search Ads Learn More Undo Profitability was dented by a sharp rise in provisions, which surged 44.3% quarter-on-quarter to Rs 660 crore, compared to Rs 457 crore in the March quarter. Pre-Provision Operating Profit (PPoP), however, rose 19.3% YoY to Rs 1,353 crore. Stressed assets inched up, with Gross Stage 3 assets estimated at 3.8–3.9%, compared to 3.7% in the year-ago period. Collection efficiency declined to 95% in June, down from 97% in March. Live Events Disbursements during the quarter rose 1% YoY, moderating from the 5% growth recorded in the same period last year. The company's Assets Under Management (AUM) grew 14.5% YoY to Rs 1.21 lakh crore. Also Read: Apollo Tyres, Brigade Enterprises among 10 small-cap stocks trading below industry PE; may rally up to 43% According to Trendlyne, the average analyst target price for M&M Financial Services stands at Rs 292, implying a 13% upside from current levels. Among the 33 analysts tracking the stock, the consensus rating is 'Hold'. Technically, the Relative Strength Index (RSI) is at 49.7, indicating neutral momentum. Meanwhile, the MACD stands at -0.3, below both the signal and center lines, signaling a strong bearish trend. The stock has declined 10% over the past year and is down 15% over the last two years. M&M Financial currently has a market capitalisation of Rs 36,076 crore. Also Read: 7 Nifty500 stocks with highest dividend yields. Do you own any?
The Print
15 hours ago
- The Print
Indian firm sets up titanium, superalloy plants to meet global need. Safran, Dassault, BAE line up
The company, which is investing close to Rs 1,000 crore, has already started supplying titanium parts to BAE Systems for its M-777 ultra-lightweight howitzers that India also uses. Titanium and superalloys, which are nickel and cobalt-based, are used for defence manufacturing. Superalloys are used for high temperature scenarios, like in aero engines. Lucknow: Spread over 50 acres in the Uttar Pradesh Defence Industrial Corridor, India's PTC Industries is setting up four manufacturing plants focused purely on titanium and superalloy production to meet not just India's defence demand but global need. Other top global vendors like Israeli Aerospace Industries (IAI), Safran and Dassault Aviation have already signed long-term contracts with the Indian firm. 'We believe in the motto of Make in India for India and the world. The deal with Safran is not just for defence engines but their civil ones. We have signed a contract with Dassault Aviation. All the titanium casting that goes on Rafale (aircraft) will one day be ours,' Sachin Agarwal, Chairman and Managing Director of PTC Industries, told ThePrint. Explaining why foreign companies are coming to him, he said that titanium is made globally by a limited number of countries. 'If you leave China, out of the close to 170,000 tonnes of titanium manufacturing in the world, Russia produces 60,000-70,000 tonnes, which is 30-40 percent of global numbers,' he explained. Sachin added that the global supply chain has been hit due to the Russia-Ukraine war and the desire to pull away from China. 'All of Europe and American companies want titanium and superalloys from non-China and non-Russia countries. And this is where India comes into play. It is a god given opportunity. And that is why we are doing it. Nobody in India is doing this and we are the first ones to do so and it holds a lot of scope globally,' Alok Agarwal, Director, Technical and Quality, at the company, told ThePrint. He said that, currently, MIDHANI, a key defence PSU based in Hyderabad, makes titanium but the supply is less. 'We are the only private company in India which makes titanium and superalloys material. MIDHANI does a small quantity compared to what we have planned and are going to do,' Alok added. Explaining further, he said that one of the four PTC plants being set up is a metals factory which is manufacturing titanium and superalloys. 'Then there is a large forging unit which is going to forge the parts, and another facility for making titanium and superalloy parts, and then there is a machining factory coming up which will manufacture parts,' he said. Sachin said that he and his team brainstormed seven-eight years ago and assessed the areas in defence and aerospace that the company should enter. 'We did gap study. We found that there is a certain technological and capability gap. Most of these are primarily related to materials capability and certain core manufacturing capability. Our objective was to put the country on a par when it comes to materials itself.' 'This is our strategic material technology complex where we are covering all material and technological gaps we found, primarily two critical sectors: titanium alloy and superalloy related,' he told ThePrint. Emphasising on criticality, Sachin said that India has a dream to manufacture its own aero engines. 'But we can't make them until we have the capability to make our own superalloys and the components that go into the aero engine,' he added. PTC Industries has acquired a British company that manufactures aero engine blades and other parts. 'The idea is to manufacture everything from base material to high-end aero engine parts,' he said. (Edited by Nida Fatima Siddiqui) Also read: Nod for additional Scorpene submarines still awaited, Navy & Mazagon Dockyard Ltd in limbo
