Mahindra Finance jumps after its Quiklyz inks MoU with five Last Mile Mobility players

Mahindra & Mahindra Financial Services is currently trading at Rs. 207.00, up by 2.80 points or 1.37% from its previous closing of Rs. 204.20 on the BSE.

Mahindra Finance
Mahindra Finance

The scrip opened at Rs. 204.00 and has touched a high and low of Rs. 208.80 and Rs. 204.00 respectively. So far 98272 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 235.00 on 15-Sep-2022 and a 52 week low of Rs. 127.95 on 07-Mar-2022.

Last one week high and low of the scrip stood at Rs. 208.80 and Rs. 199.30 respectively. The current market cap of the company is Rs. 25668.13 crore.

The promoters holding in the company stood at 52.16%, while Institutions and Non-Institutions held 39.05% and 8.80% respectively.

Mahindra & Mahindra Financial Services’ (Mahindra Finance’s) vehicle leasing and subscription business — Quiklyz has signed MOUs with five prominent Last Mile Mobility players for leasing over 1000 electric 3-wheelers (3W).

Quiklyz plans to deliver these leased vehicles over the next six months, spread across India deliveries, opening up newer opportunities in EV leasing.

The MOUs have been signed up with Mahindra Logistics, MoEVing Urban Technologies, Creativity at Best Technologies, Magenta EV Solutions and, Terrago Logistics. The signing was done on the sidelines of the launch of Mahindra Electric’s Zor Grand in Bengaluru recently.

The three-wheeler electric vehicles will be used primarily for delivery and logistics purposes.

Mahindra Finance is one of India’s leading non-banking finance companies.

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