Chola Inv Finance shares drop 3.47% as Sensex falls

Shares of Cholamandalam Investment & Finance Company Ltd. traded 3.47 per cent lower in Thursday's session at 01:44PM (IST). The stock opened at Rs 650.0 and has touched an intraday high and low of Rs 650.0 and Rs 634.0, respectively, during the session so far.

The stock quoted a 52-week high of Rs 770.05 and a 52-week low of 469.75. About 29,489 shares changed hands on the counter so far.

Benchmark Nifty50 was down 401.65 points at 15838.65, while the BSE Sensex traded 1291.17 points lower at 52917.36 at the time of writing of this report.


In the Nifty pack, 2 stocks traded the day in the green, while 48 were in the red.


Key Financials
For the quarter ended 31-Mar-2022, the company reported consolidated sales of Rs 2656.63 crore, up 3.88 per cent from the previous quarter's Rs 2557.46 crore and up 7.13 per cent from the year-ago quarter. The company reported net profit of Rs 686.74 crore for the latest quarter.

Promoter Holdings
Promoters held 51.55 per cent stake in the company as of 31-Mar-2022, while FIIs held 20.03 per cent and MFs 19.54 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 612.98 on May 19, while the 50-DMA was at Rs 695.75. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.