Mahindra & Mahindra Financial Services surges on partnering with Kotak Life

Mahindra & Mahindra Financial Services is currently trading at Rs. 292.95, up by 2.95 points or 1.02% from its previous closing of Rs. 290.00 on the BSE.

The scrip opened at Rs. 290.20 and has touched a high and low of Rs. 296.35 and Rs. 288.15 respectively. So far 200753 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 346.40 on 04-Jul-2023 and a 52 week low of Rs. 243.90 on 30-Oct-2023.

Last one week high and low of the scrip stood at Rs. 296.35 and Rs. 275.55 respectively. The current market cap of the company is Rs. 36021.87 crore.

Mahindra & Mahindra Financial Services

The promoters holding in the company stood at 52.16%, while Institutions and Non-Institutions held 40.57% and 7.27% respectively.

Mahindra & Mahindra Financial Services (Mahindra Finance) has entered into partnership with Kotak Mahindra Life Insurance Company (Kotak Life) to offer Life Insurance to the Company’s customers. The Company also plans to enter into partnerships and alliances with other Insurance Companies for offering insurance solutions.

The partnership will benefit over 10 million customers of Mahindra Finance by offering a wide range of tailor-made life insurance solutions provided by Kotak Life. These offerings will be provided by Mahindra Finance through its extensive network of more than 1400 branches spread across all states and UTs over a period of time.