Cholamandalam Investment and Finance Company inches up on partnering with CarTrade Tech

Cholamandalam Investment and Finance Company is currently trading at Rs. 652.75, up by 0.50 points or 0.08% from its previous closing of Rs. 652.25 on the BSE.

Cholamandalam vacancy
Cholamandalam vacancy

The scrip opened at Rs. 658.50 and has touched a high and low of Rs. 658.50 and Rs. 647.40 respectively. So far 13751 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 770.05 on 26-Apr-2022 and a 52 week low of Rs. 469.75 on 20-Dec-2021.

Last one week high and low of the scrip stood at Rs. 671.95 and Rs. 634.00 respectively. The current market cap of the company is Rs. 53981.96 crore.

The promoters holding in the company stood at 51.55%, while Institutions and Non-Institutions held 40.61% and 7.84% respectively.

Cholamandalam Investment and Finance Company (Chola) has entered into a partnership with CarTrade Tech, a platform to sell and buy automobiles, to offer financing for used cars.

Chola, the financial services arm of the Murugappa Group, will be the preferred financier for customers purchasing used vehicles from CarTrade Tech’s CarWale abSure’s dealers.

Chola will customise its products and offerings to suit the needs of these customers. This collaboration between Chola and CarWale abSure is expected to make mobility accessible to the middle-class Indian.

Cholamandalam Investment and Finance Company is among the top 5 NBFC’s in the country operating in vehicle finance, home equity, corporate and mortgage finance segments with subsidiaries in the broking and wealth advisory space.

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