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Indus Towers, Sundaram Finance and Mankind Pharma are among stocks that may get added to the MSCI Global Standard index during the next rebalancing exercise in May. Meanwhile, PayTM could get deleted from the index if the stock languishes around the current levels over the next few weeks

Indus Towers, Sundaram, Mankind Pharma likely to be added to MSCI index

Sundaram Finance Holdings Limited (NSE:SUNDARMHLD) shareholders (or potential shareholders) will be happy to see that insider Arjun Rangarajan recently bought a whopping ₹172m worth of stock, at a price of ₹192. That increased their holding by a full 58%, which arguably implies the sort of confidence required for a shy sweet-natured nerd to ask the most popular kid in the school to go out on a date.

Arjun Rangarajan Buys 58% More Sundaram Finance Holdings Shares

Non-banking finance company Sundaram Finance Ltd has reported a profit after tax for the July-September 2024 quarter at Rs 340.09 crore. The city-headquartered company had registered a profit after tax of Rs 366.38 crore during the corresponding quarter of last year. For the six month period ending September 30, 2024 the profit after tax remained flat at Rs 647.74 crore as against Rs 647.66 crore registered in the year ago period. The company said the team Sundaram Finance has delivered a balanced H1 FY25 despite lower than expected economic activity in the half year.

Sundaram Finance Q2FY25 results: Net profit falls to Rs 340.09 cr

Adverse business environment for its key borrower segments, characterized by the increased cost of operations and the expected demand-related impact on account of high inflation, which is a bearing on the asset quality.

SFL has a concentrated portfolio with the southern region accounting for about 59% of the portfolio as of December 2021.

The issuer has made timely interest payments.

Sri Rajiv C Lochan, MD

Sri S Viji, Chairman

SFL is an established player in the vehicle finance business with an operational history of more than six decades. 

SFL’s net profitability has remained range-bound with profit after tax of 2.3% in 9M FY2022 and 2.3% in FY2021 compared to 2.0% in FY2020.

Healthy internal generation would support the company’s capital structure, notwithstanding the growth expectations.

Security Name: 8.90% Sundaram Finance Limited 13 Jun 2029

ISIN:

INE660A08CA4

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AAA Stable

ICRA

AAA Stable

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Subordinated Tier 2

Unsecured

ISSUER

Sundaram Finance Limited

Recent News

Indus Towers, Sundaram, Mankind Pharma likely to be added to MSCI index

Arjun Rangarajan Buys 58% More Sundaram Finance Holdings Shares

Sundaram Finance Q2FY25 results: Net profit falls to Rs 340.09 cr

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