Magma Fincorp is one of the leading NBFCs which provide hassle free car loans, SME loans and home loans across twenty two states. Magma Fincorp is based in Kolkata and is registered with Reserve Bank of India (RBI) as an Asset Finance Company.
With the strong fundamentals, Magma Fincorp share price has soared around 8 per cent intraday today on NST trading counter.
The company has been working on strengthening its top management team. Magma Fincorp had announced the appointment of Kaushik Banerjee as President and CEO - Asset Finance, Kailash Baheti as Chief Financial Officer and Debraj Sinha as Chief People Officer.
The company has also posted healthy September quarter result this financial year. It has reported 52 bps increase in its Net Income Margin to 7.36 per cent year on year. This rise drove the PBT to Rs. 76.6 crores and PAT to Rs. 50.6 crores. Assets under Management have been reported at Rs 17,600 crore as on September 30. The company sustained to focus on profitable growth through increased business in agriculture (tractors), used assets, mortgage and growing SME segments. These four segments now contribute 67 per cent of total disbursals and 60 per cent of total loan book.
Magma Fincorp share price was last traded at Rs. 97 with the rise of 7.30 per cent as compared to the 1.87 per cent rise in the Benchmark Index Nifty.
The stock had traded at its lifetime high of Rs. 141 on 10th September 2014 and 52 week high of Rs. 125.65 on 10th October 2016. The lifetime low and 52 week low of the stock is seen at Rs. 3.80 on 15th June 2004 and Rs. 63.30 on 3rd February 2016. Magma Fincorp is the top 500 identified stock for the quarter by Dynamic Levels. For the details on the stock, visit Magma Fincorp share price history page of Dynamic Levels website.
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