Poonawalla Fincorp share price jumps after THIS fresh announcement. Do you own?
Poonawalla Fincorp share price surged as much as 2.47 per cent in Tuesday's trading session after the company announced the launch of its consumer durables loans business.
At 1 pm, Poonawalla Fincorp stock was trading at ₹ 407.35 apiece on NSE on April 22.
Cyrus Poonwalla-promoted NBFC, said in a press release dated April 22, that the company has introduced a digital EMI card with pre-approved limits, enabling customers to purchase consumer durable products more conveniently.
'This launch marks the company's strategic entry into a fast-growing, high-velocity segment of retail lending, strengthening its ability to build a deeper, more scalable retail franchise while enhancing profitability and lifetime customer value,' Ponawalla Fincorp said.
Consumer durable loans present PFL with a strategic opportunity to drive faster customer franchise growth through instant, point-of-sale loans and digital onboarding, enabling real-time customer acquisition and building scale efficiently with a tech-first approach. Additionally, this offering creates a strong cross-sell flywheel, as consumer durable loan customers become potential leads for personal loans, insurance, and other financial products—creating a natural cross-sell funnel, high engagement and strong visibility across cities and catchments.
'This is not just a product launch - it's a strategic lever to scale our retail business faster, deeper, and more profitably. It unlocks access to millions of new customers and enables us to serve them across their financial lifecycle," said Arvind Kapil, Managing Director & CEO of Poonawalla Fincorp.
With this business launch, PFL has now launched 6 new businesses in line with its commitment. With the addition of Consumer Durable Loan business, the company has further strengthened its secured lending portfolio.
NBFC stock Poonawalla Fincorp has given multibagger returns to its investors by surging over 1,979.85 per cent in past five years.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
4 hours ago
- Time of India
Jaiprakash Associates Ltd creditors extend bid deadline by 15 days
Jaiprakash Associates Ltd faces debt resolution. NARCL, the lead creditor, extends the bid submission deadline by 15 days. This decision follows requests from interested bidders. The company owes creditors ₹57,185 crore. Several companies including Adani Enterprises and Dalmia Bharat have shown interest. NARCL holds the majority of the debt. The resolution process continues under the Insolvency and Bankruptcy Code. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Creditors to Manoj Gaur-promoted Jaiprakash Associates Ltd (JAL), led by National Asset Reconstruction Co Ltd ( NARCL ), have decided to extend the timeline for submission of bids by another 15 days from June 9. The decision was taken at the meeting of the committee of creditors (CoC) over the weekend after requests from some bidders for more time to submit their bids. "Some bidders requested for more time and NARCL, which is the largest creditor, has agreed. This will be conveyed to all stakeholders on Monday," said a person familiar with the process, who did not wish to be did not immediately reply to ET's email seeking comments. The debt-laden holding company of the real estate, cement and engineering, procurement and construction (EPC) group, operating mostly in Delhi-National Capital Region, owes creditors a total of ₹57,185 crore. Interested bidders have to submit an earnest money deposit and performance have also sought bank guarantees of ₹8.5 lakh against 100% margin (in the form of a lien marked fixed deposit), to cover for the mining plan for Degarhat Devmaudaldal leased limestone mine of reports said that more than two dozen varied bidders including power and cement companies, alternative asset managers and EPC companies have expressed interest in placing formal bids. They include large companies such as Adani Enterprises Vedanta , Patanjali Ayurveda, Naveen Jindal's Jindal Power, GMR Group, Kotak Alternate Asset Managers, Oberoi Realty and Torrent Power. ET could not immediately ascertain the names of the is the single largest creditor to the company, having taken over 87% of the ₹57,185 crore debt from banks in January. Acre ARC, with 4% of the debt, and Axis Bank, with 1.60% of the debt, are the other large is among the largest companies undergoing the corporate resolution process under Insolvency and Bankruptcy Code . In terms of debt size, the JAL resolution is only dwarfed by the ₹65,000 crore owed by Videocon Industries to its creditors.
Mint
2 days ago
- Mint
Bajaj Finance board fixes record date for 1:2 stock split, 4:1 bonus share issue. Check details here
Bajaj Finance, on June 6, announced the record date for for 1:2 stock split and 4:1 bonus share issue. The NBFC stock closed 5 per cent higher on Friday at ₹ 9,372 apiece. According to the exchange filing, Bajaj Finance has set Monday, June 16 as the record date to determine eligible shareholders for both stock split and bonus share issue. 'We wish to inform you that the Company has fixed Monday, 16 June 2025 as the 'Record Date' for the purpose of determining the members, eligible for the sub-division of existing equity shares and issue of bonus equity shares of the Company,' the company said in the filing. In an another exchange filing dated April 29, the company announced that the board has approved the stock split in the ratio 2:1, which means each existing share with a face value of ₹ 2 will be divided into two fully paid-up equity shares with a face value of ₹ 1 each. 'Sub-division of 1 (one) equity share of face value of Rs. 2 each fully paid-up into 2 (two) equity shares of face value of Re. 1 each fully paid-up,' the company said in the filing. The Bajaj Group company also announced a bonus share issue in a 4:1 ratio. This means eligible shareholders will get 4 bonus equity shares of face value Re 1 each for every 1 fully paid-up equity share they hold, also of face value Re 1. ' Issue of bonus equity shares in the ratio of 4:1 i.e., 4 (Four) bonus equity shares of face value Re. 1 (Rupee One) each for every 1 (one) equity share of face value Re. 1 (Rupee One) each fully paid up,' it added. The company had also announced a final dividend of ₹ 44 per share (2200 per cent) of face value of ₹ 2 each for the financial year 2024-25, with May 30 set as the record date. For the March quarter, the company reported a 19 per cent year-on-year (YoY) surge in its consolidated net profit to ₹ 4,545.6 crore. Net interest income (NII) was slightly below projections, coming in at ₹ 9,807.1 crore compared to the expected ₹ 9,880.9 crore. The company's Assets Under Management (AUM) grew by 26 per cent YoY, reaching ₹ 4.17 lakh crore as of 31 March 2025. An addition of ₹ 18,700 crore during the quarter highlights consistent credit demand. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
2 days ago
- Time of India
RBI lowers qualifying asset criteria for NBFC-MFIs to 60% from 75%
The Reserve Bank of India ( RBI ) Friday lowered the minimum amount of eligible microfinance loans specialized lenders must hold on their books, allowing microfinance-NBFCs to further diversify their asset base. In a notification Friday, the central bank said qualifying assets (those meeting the definition of microfinance loans) of NBFC-MFIs must constitute a minimum of 60% of the total assets (netted off by intangible assets), on an ongoing basis. The earlier threshold was 75%. 'If an NBFC-MFI fails to maintain the qualifying assets as aforesaid for four consecutive quarters, it shall approach the Reserve Bank with a remediation plan for taking a view in the matter,' the RBI said. The central bank also said that 'qualifying assets' of NBFC-MFIs has been aligned with the definition of 'microfinance loans'. As per RBI rules, microfinance loan is defined as a collateral-free loan given to a household having annual household income up to Rs 3,00,000. 'This policy shift will enable accelerated diversification within our operations, ensuring balance sheet stability and positioning us for robust cross-cycle earnings,' said Ganesh Narayanan, Chief Executive Officer, CreditAccess Grameen Ltd . Reduction in the qualifying asset criteria for NBFC-MFIs is expected to improve loan diversification of lenders, thereby augmenting their credit risk profile . It will also enable them to meet other credit requirements of their end borrowers, according to A M Karthik, Senior Vice President & Co-Group Head, Financial Sector Ratings, ICRA .
