M&M Finance shares are in focus in Monday's session (September 16) as the NBFC company will expand into mortgage business. As part of the expansion plans. the company will also cater to home loan and retail lease.
The company in its filing said, "at their meeting held today i.e. on 13th September 2024 have approved the expansion into Mortgage business which would include providing Housing Finance, Top-up Loans, Lease Rental Discounting, Home Improvement and Home Extension Loans, Balance Transfer Loans and Construction Finance etc."
Through its expansion, the company aims to leverage its strong geographical presence in the retail lending space to exploit the mortgage lending opportunity for its existing customers as well as new customers.
The stock in the last one year has underperformed the broader Nifty index and has risen just 12 per cent.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
NPS vs SIP: Which can help generate larger corpus on Rs 12,000 monthly investment for 25 years; get calculations
Cochin Shipyard Dividend 2024: Do you own this stock? Check dividend amount, record date and payment date
Top 7 Index Mutual Funds With up to 63% SIP Returns in 1 Year: Rs 25,000 monthly SIP in No. 1 fund is now worth Rs 3.94 lakh
09:35 AM IST