M&M Finance said the agenda matters pertaining to approval of the audited standalone and consolidated financial results, recommendation of dividend, AGM and related matters, which were to be considered at the board meeting scheduled to be held on April 23, were being deferred to a later date, in view of the latest development.
Nomura maintained a neutral rating on HCL Technologies with a target price of Rs 1,200. After the divesture, HCL would lose $97 million or 80 bps of its current revenues. As a part of this divesture, HCL would receive $170 million + net book value on the date of closing.
The Mahindra group's non-banking financial company's (NBFC) net profit tumbled 48 per cent year-on-year (YoY) basis to Rs 235 crore in the September 2023 quarter.
Morgan Stanley maintained an equal-weight rating on M&M Finance with a target price of Rs 300. Disbursements and collections remained strong in July. Collection efficiency in July was also marginally better.