India's Mahindra & Mahindra Financial rises after upbeat quarterly business update
BUZZ-India's Mahindra & Mahindra Financial rises after upbeat quarterly business update ** Shares of India's Mahindra and Mahindra Financial Services MMFS.NS jump 3.79% to 330.25 rupees
** Company reported first-quarter disbursements rose 21% y/y, while gross business assets grew 12.5% y/y
** Jefferies ("hold", TP:325 rupees) says tech-led underwriting and centralized loan processing have improved turnaround time, productivity and underwriting consistency, though it remains cautious on weak monsoon risks
** Motilal Oswal ("buy", TP:318 rupees) says healthy disbursement growth and stable asset quality, along with comfortable liquidity position, support co's operating outlook
** MMFS rated "buy" on average by 33 analysts, median PT at 350 rupees, according to LSEG-compiled data
** YTD, stock down 18.11%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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