On Tuesday, Mahindra & Mahindra Financial Services (MMFSL) shares hit a 52-week high of Rs 206.85 on the Bombay Stock Exchange (BSE). The Mahindra Group company previously raised Rs 206.40 on November 9, 2021.

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In the last year’s comparison, the S&P BSE Sensex was down 0.50 per cent at 54,125 points. This year in June 2022, the company delivered a 115 per cent every year and a 27 per cent growth monthly in disbursement at nearly Rs 3,750 crore.

The year-to-date disbursement at around Rs 9,450 crore registered a YoY growth of 145 per cent. As of June 30, the company estimates the gross business assets at Rs 67,500 crore, a YoY growth of 6 per cent.

“Stocks like MMFSL are likely to perform better in coming trading sessions along with the ongoing recovery seen in sectoral peers. The stock witnessed significant delivery-based activity in early April and May 2022 at Rs 170-180, a crucial support level. Since accumulation was seen in this stock last weeks, we believe downsides are limited and positive momentum is likely to remain intact in the stock above the mentioned levels,” said ICICI Securities.