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A total of 62,999 shares changed hands on the counter till 12:30PM (IST)

The stock traded at a P/E multiple of 101.45, while the price-to-book value ratio stood at 4.79.

On Wednesday, the rupee recovered from its all-time low level and settled at 82.82 against the dollar.

India Biz reported mid-single-digit volume growth. The company did not see a significant rural recovery in Q3, while the urban and premium categories maintained their steady growth momentum,” the note added.

Axis Securities believes that the Indian economy stands in a sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy. It also believes that the current setup is a ‘Buy on Dips’ market.

Promoters held 53.51 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 42.2 per cent and 2.24 per cent, respectively.

Key observation has been that share price has given a faster retracement of August 2021–June 2022 decline (Rs 100-50) faster signalling a structural turnaround and is expected to outperform in coming months. Consolidation of past five years (CY17-22) resembles a bullish cup and handle pattern.

Mahindra & Mahindra Financial Services, incorporated in the year 1991, is a Large Cap company (having a market cap of Rs 29467.39 Crore) operating in NBFC sector.

A total of 5,780 shares changed hands on the counter till 11:23AM (IST).

The Relative Strength Index of the stock stood at 39.1 on Thursday.