India Ratings affirms Mahindra & Mahindra Financial Services' Bank Loans and NCDs at 'IND AAA'/Stable, CPs at 'IND A1+'

India Ratings and Research (Ind-Ra) has affirmed Mahindra & Mahindra Financial Services Limited's (MMFSL) Long-Term Issuer Rating at 'IND AAA'. The Outlook is Stable.

The ratings continue to factor in Ind-Ra's expectation of strong, timely financial support from MMFSL's parent, Mahindra & Mahindra Limited (M&M; 'IND AAA'/Stable; holds a 52.16% stake in MMFSL), if required.

Shares of Mahindra & Mahindra Financial Services Limited was last trading in BSE at Rs. 297.80 as compared to the previous close of Rs. 293.00. The total number of shares traded during the day was 118063 in over 1491 trades.

The stock hit an intraday high of Rs. 300.50 and intraday low of 287.55. The net turnover during the day was Rs. 34629804.00.

Source : Equity Bulls

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MahindraandMahindraFinancialServices INE774D01024 RatingUpdate