Cholamandalam Investment Q1 Results; Net Profit Rise 37%:
To begin with, Cholamandalam Investment and Finance Company Ltd. announced, its net profit of Rs. 431 Cr with a 37% gain on July 31st. While the company also posted its consolidated net loss of Rs. 314 Cr in the same quarter last year.
Besides, the company’s total additional provision stood at Rs. 551 Cr in this quarter ended on 30th June. The company also posted its total additional provision of Rs. 551 Cr in the same quarter last year.
Furthermore, the company on July 26th reported its Q1FY21 result. The company disbursements in vehicle finance business declined by 53% and stood at Rs. 3,231 Cr. Comparatively, its disbursement in vehicle finance stood at Rs. 6,940 Cr in the current quarter last year.
Moreover, the company reported its assets under management raised by 13% and stood at Rs. 62,827 Cr in this quarter.
Cholamandalam Investment Limited shares traded with a loss of 11.40 points reached 202.80 INR with 5.32% down. Its previous close at 214.20 INR. The company shares traded on the National Stock Exchange.
Stock Market Update:
Stock Market July 31st: On Friday, both Sensex and Nifty seem to trade in a bearish trend in the stock market. The Sensex stood traded loss with 37,606.89 levels and Nifty stood traded loss with 11,073.45 levels. The Sensex declined 129.18 points with a 0.34% loss. Besides, Nifty has declined 28.70 points with a 0.26% loss.
On the other hand, the number of confirmed or coronavirus cases in India reached 16,97,054 as of August 1st, and deaths reached 36,551.
In the border market, the S&P BSE Midcap index reported a bullish trend in the stock market on 31st July. It raised 49.39 points with a 0.36% gain and reached a 13,759.11 level. The S&P BSE Smallcap index raised 105.49 points with a 0.82% gain and reached a 13,021.76 level. However, the Nifty Bank declined 6.80 points with a 0.031% loss and reached a 21,640.05 level.