Mahindra & Mahindra Finance joins hands with India Post Payments; stock gains over 3%

Shares of M&M Finance climbed over 3% to the day’s high price of Rs 218.9 per share on Tuesday after the company joined hands with India Post Payments Bank to boost the availability of credit to customers.

“Mahindra & Mahindra Financial Services Limited (MMFSL) today announced a strategic partnership with India Post Payments Bank to further enhance credit access to a larger customer base. As a part of this alliance, India Post Payments Bank will provide lead referral services to MMFSL for passenger vehicles, 3-wheeler, tractor and commercial vehicle loan categories and provide cash EMI deposit facility to existing MMFSL customers at post offices,” said the company in a release.

The shares later recouped gains and were up over 1% at Rs 214.25 per share around 11.15 am.


M&M Financial shares on a year-to-date basis have delivered returns of over 44%, while in the last one year it has offered returns of just over 14%.

The consensus recommendation on the counter from 28 analysts for M&M Finance is 'hold'.

M&M Financial is a leading NBFC catering to the financing needs of rural and semi-urban areas.

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