Shares of Cholamandalam Investment & Finance Company Ltd. gained 1.57% on Wednesday, with the Sensex closing higher by 329.98 points. This growth was likely due to the company’s positive financial performance in the fourth quarter ended December 31, 2022.
The Promoters held 51.34% of the company’s stock as of December 31, 2022, foreign institutional investors (FII) and domestic institutional investors (DII) had 19.38% and 17.12%, respectively. The counter had a total traded volume of 21622 shares, with a value of Rs. 1.69 crore on the NSE. It was trading at a price-to-earnings ratio of 25.64, and a price-to-book ratio of 5.01; higher than the industry average, signifying a positive outlook for the company’s future prospects by investors.
Cholamandalam Investment & Finance Company Ltd. is a Non-Banking-Financial-Company (NBFC) belonging to the Diversified industries. In the quarter ending December 31, 2022, the company reported consolidated sales of Rs. 3408.09 crore, which was an 11.12% increase over the previous quarter and 33.26% higher compared to the same quarter of the previous year. The profits for that quarter also witnessed a 29.77% growth over the previous year. The stock has gained 13.07% over the year, higher than the 30-share index gain of 0.28%.
The company is helmed by its Managing Director, Arun Kumar Alagappan and is based in Chennai, India. With extensive knowledge in the financial services sector, Mr. Alagappan brings a wealth of industry experience and industry partnerships to the company. Having been with the organisation for decades, Arun has been known for driving the company’s strong and aggressive growth plans and is credited for his leadership in the industry.