Comments
Magma Fincorp Ltd will be increasing its focus on vehicle loans in Andhra Pradesh and Telangana.
"We are targeting 20 per cent growth in the present financial year by increasing our disbursal of loans for cars and tractors,'' Dhrubashish Bhattacharya, Vice-President and Head-Sales, told newspersons here on Thursday.
The company had disbursed Rs 562 crore in the two States during the financial year ended March 31, 2014. It has 24 branches in Andhra and Telangana and would consolidate its business rather than expanding it this year, he added.
The Kolkata-based non-banking finance company had earlier announced that it would raise Rs 500 crore for expansion.
Magma’s scrip was almost flat and was trading at Rs 131.30 on the Bombay Stock Exchange on Thursday.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.