India's Mahindra & Mahindra Financial slumps on delayed board meeting

Mahindra and Mahindra Financial Services

23/04/2024 05:01

** Shares of Mahindra and Mahindra Financial Services
 MMFS.NS  slump as much as 8.02% to 256.5 rupees in early trade
    ** Fall after co deferred Q4 financials board meeting as
fraud was detected at one of its branches in northeast India
    ** Financial impact of the same expected to not exceed 1.50
bln rupees ($18 mln); investigations underway - MMFS
    ** Stock on track to log steepest intraday decline since
Oct. 2023 
    ** Including session's losses, stock down ~4% YTD
    

($1 = 83.3420 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))