Magma Fincorp Contributes Rs 5 Cr to PM CARES Fund

Mumbai-based asset finance company, Magma Fincorp Limited today pledged Rs 5 crore under the Prime Minister's Citizen Assistance and Relief in Emergency Situations (PM CARES) Fund to support India's fight against coronavirus.

Magma is committed to participating in corporate India's response to address the global pandemic COVID-19 through funds directly to PM Cares, community welfare plans, providing meals and dry ration and through leveraging its expertise to offer assistance in the far reaching areas of the country. Magma has supported 5600 families which is around 30,000 people in 10 states fight hunger by providing Dry Ration and freshly cooked meals over the past two months.

Commenting on the CSR efforts, Mr Sanjay Chamria, VC & MD, Magma Fincorp Limited said, "Magma is committed in supporting the marginalized and the rural poor. We have over the last three months since the start of the pandemic provided ration and groceries to people in need across the country. Our employees have been at the forefront volunteering and providing assistance to those affected by Covid- 19 as well. We further plan to provide hygiene kits to 23000 families in the next few weeks."

Shares of MAGMA FINCORP LTD. was last trading in BSE at Rs.20.51 as compared to the previous close of Rs. 19.54. The total number of shares traded during the day was 502151 in over 362 trades.

The stock hit an intraday high of Rs. 20.51 and intraday low of 20.51. The net turnover during the day was Rs. 10299117.

Source : Equity Bulls

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