Share price of Chola Inv Finance falls as Nifty weakens

Shares of Cholamandalam Investment & Finance Company Ltd. slipped 0.4 per cent to Rs 1066.4 in Friday's trade as of 11:16AM (IST). The stock hit a high price of Rs 1080.45 and low of Rs 1060.7 during the session.

The return on equity (ROE) for the stock stood at 18.57 per cent. Traded volume on the counter stood at 11:16AM shares and turnover at Rs 2.4 crore around that time. The stock of Cholamandalam Investment & Finance Company Ltd. quoted a 52-week high price of Rs 1309.75 and 52-week low prices of Rs 709.85, respectively.

The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.8.


Promotor/FII Holding
Promoters held 50.23 per cent stake in the company as of 31-Dec-2023, while FIIs held 24.73 per cent and domestic institutional investors had 15.02 per cent.

Key Financials
The company reported consolidated sales of Rs 5054.76 crore for the quarter ended 31-Dec-2023, up 7.66 per cent from previous quarter's Rs 4695.16 crore and up 48.32 per cent from the year-ago quarter's Rs 3408.09 crore. Net profit after tax for the latest quarter stood at Rs 872.02 crore, up 27.34 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.