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Magma Fincorp Ltd approves re-appointment of Mr. Sanjay Chamria as Vice Chairman and Managing Director
Posted On : 2021-02-07 10:52:36( TIMEZONE : IST )
The Board of Directors at their meeting held on Feb 6, 2021 has approved the re-appointment of Mr. Sanjay Chamria as Vice Chairman and Managing Director of the Company w.e.f. 1 April 2021 for a period of 5 years, subject to the approval of shareholders.
Mr. Chamria has completed 56 years of age. He is a Chartered Accountant. Mr. Chamria anchors policy formation, strategy planning and execution since the very inception of the Company. For nearly three decades, Mr. Chamria has steered the Company that offers the widest range of financial solutions to a wide spectrum of customers and has serviced customers, majority of whom belonging to the unbanked and underbanked segments of society. During his tenure, Magma has emerged as a leading BFSI organization with presence in over 300 branches, offering diverse solutions including car and commercial vehicle Loans, construction equipment loans, tractor loans, SME Loans, General Insurance (through a JV with HDI Gerling of Germany) and Housing Finance (acquired GE Money's Housing Finance business in India).
Mr. Chamria has held several positions in the industry in India in the past two decades. He is a National Executive Committee member of FICCI and a managing committee member of industry body, FIDC. He is also on various national committees of FICCI and CII. He has also served as Chairman of Hire Purchase & Lease Association of India. He has led many industry representations to the Government of India, Reserve Bank of India and various standing committees. Mr. Chamria regularly presents his thoughts on the BFSI industry forums, both in India and abroad.
Shares of MAGMA FINCORP LTD. was last trading in BSE at Rs.58.55 as compared to the previous close of Rs. 58.1. The total number of shares traded during the day was 190254 in over 1210 trades.
The stock hit an intraday high of Rs. 60.6 and intraday low of 55.65. The net turnover during the day was Rs. 11088263.
