Morgan Stanley says Q1 'soft' for Mahindra and Mahindra Financial

Mahindra and Mahindra Financial Services

03/07/2024 05:20

** Shares of India's Mahindra and Mahindra Financial
Services  MMFS.NS  pare losses, trading 0.8% down
    ** Stock slid as much as 4.6% earlier in the day  
    ** Morgan Stanley says June quarter was "soft" for co
    ** Co's 5% y/y growth in loan disbursements lower than
brokerage's estimates of 7% rise
    ** Brokerage rates stock "equal-weight"; average rating of
32 analysts covering the stock is "hold" - LSEG data 
    ** Day's dip trims YTD rise to 8.5% 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))