Magma Fincorp Ltd

Type: Company
Name: Magma Fincorp Ltd
First reported 16 hours ago - Updated 16 hours ago - 1 reports

Avendus Fund II Makes Complete Exit From Portfolios

@Avendus_PE Pvt. Ltd., a subsidiary of Avendus Capital Pvt. Ltd., which focuses on PIPE has fully exited the Avendus Special Situations Strategy-II Fund portfolio and returned the proceeds to investors.On a Fund level (consolidated for all investors), ... [Published Deal Curry - 16 hours ago]
First reported 22 hours ago - Updated 22 hours ago - 1 reports

Magma Fincorp Q1 Disbursals up 33% at 2398 crs, Revenue up 9%,

Leading asset finance company, Magma Fincorp Limited has announced the Q1 FY15 unaudited results that reflected a sizeable growth of 33% in disbursals and as a consequence of it, a growth of 12% in its loan book to Rs 18295 crs.Consolidated Net Interest ... [Published Equity Bulls - 22 hours ago]
First reported 22 hours ago - Updated 22 hours ago - 1 reports

Sensex, Nifty rangebound; top 20 stock bets

NEW DELHI: The S&P BSE Sensex pared some of its morning gains after rallying as much as 150 points in trade, led by gains in SBI, L&T, ICICI Bank, Tata Steel and RIL.Tracking the momentum, the 50-share Nifty index was also trading in a narrow range, but ... [Published Economic Times - 22 hours ago]
First reported Aug 13 2014 - Updated Aug 13 2014 - 2 reports

Magma Fincorp shines on aiming to achieve 25% growth in Punjab

Magma Fincorp is currently trading at Rs. 102.75, up by 3.75 points or 3.79% from its previous closing of Rs. 99.00 on the BSE.The scrip opened at Rs. 99.05 and has touched a high and low of Rs. 104.00 and Rs. 99.00 respectively. So far 32082 shares were ... [Published Indian-Commodity - Aug 13 2014]
First reported Aug 11 2014 - Updated Aug 12 2014 - 2 reports

8/12/2014: NEIGHBOURHOOD: Magma Fincorp announces growth plan

CHANDIGARH: Magma Fincorp Limited, on Monday, announced its growth plan for Punjab. The Kolkata-based company, which has established itself as a leading asset finance player in Punjab is targeting 25% growth in the state in FY 15 and will focus on SM ... [Published Hindustan Times - Aug 12 2014]
First reported Aug 04 2014 - Updated Aug 04 2014 - 1 reports

MAGMA FINCORP : Net profit dips

Magma Fincorp Ltd has announced a consolidated net profit of Rs43.4 crore for Apr- Jun 2014 ( Rs43.71 crore for Apr- Jun 2013 ). Its revenue has gone up to Rs544 crore ( Rs500 crore ). The company has increased the provisioning for employee benefits ... [Published 4 Traders - Aug 04 2014]
First reported Aug 04 2014 - Updated Aug 04 2014 - 1 reports

Magma Fincorp consolidated Jun '14 sales at Rs 544.32 crore

Magma Fincorp has reported a sales turnover of Rs 544.32 crore and a net profit of Rs 43.40 crore for the quarter ended Jun '14 ... [Published Moneycontrol.com - Aug 04 2014]
First reported Aug 04 2014 - Updated Aug 04 2014 - 1 reports

RBI Governor Rajan seen holding rates

The consensus among market participants is that RBI Governor Raghuram Rajan will hold rates during his next policy announcement slated for tomorrow morning.There have been expectations that in the backdrop of the recent Budget, the central bank would ... [Published Hindu Business Line - Aug 04 2014]
First reported Aug 03 2014 - Updated Aug 03 2014 - 1 reports

Magma HDI General Insurance turns profitable in seven quarters

Magma HDI General Insurance Company has turned profitable in the seventh quarter of its existence beating its own guidance of achieving break-even in the fourth quarter of this financial year. The insurer, which commenced business in October, 2012, made ... [Published Business Standard India - Aug 03 2014]
First reported Aug 01 2014 - Updated Aug 01 2014 - 1 reports

Marginal rise in Magma net

Calcutta, July 31: Asset finance company Magma Fincorp has registered a marginal rise in net profit for the first quarter ended June, on the back of a growth in disbursement and improvement in net interest margin. Net profit stood at Rs 45.77 crore against ... [Published Calcutta Telegraph - Aug 01 2014]
First reported Jul 23 2014 - Updated Jul 23 2014 - 1 reports

Magma Fincorp looking to raise Rs 500 crore

CHENNAI: Kolkata-based non-banking financial company Magma Fincorp is looking to raise Rs 500 crore this fiscal year and to grow its business in Tamil Nadu.The company, which has a presence in semi-urban and rural Tamil Nadu, is looking to grow its business ... [Published Times of India - Jul 23 2014]
First reported Jul 23 2014 - Updated Jul 23 2014 - 1 reports

Magma Fincorp pegs 30 per cent growth in tractor business

Retail finance player Magma Fincorp has projected over 30 per cent growth for this fiscal taking the total exposure in the tractor segment to 19 per cent from the existing 17 per cent even as sales have remained sluggish due to a weak monsoon."Our tractor ... [Published Business Standard India - Jul 23 2014]

Quotes

Commenting on the performance, Mr. Sanjay Chamria, Vice Chairman & MD, Magma Fincorp said, "The growth we have achieved in the performance of the company on various fronts like disbursements / loan book, NIM coupled with control of delinquencies in a dormant economic environ has truly been challenging and the substantial investments we have made during the past two years with a view to efficiently exploit our deep rural penetration through technology has started yielding results and we will see more benefits flowing in during the ensuing quarters."
Addressing media persons, Sanjiv Jha, Vice-President and National Sales Manager – Suvidha, Magma Fincorp Limited said, "the company has deep presence and existing customer relationships in the state and its focus on auto loans which has been the mainstay in the state will also continue coupled with renewed focus on the rural and semi rural markets."
Sanjiv Jha, vice-president and national sales manager of the used-vehicle loans division, said, "Our focus on auto loans which has been our mainstay in the state. We will also continue to focus onon that segment. We are confident that our renewed focus on the rural and semi-rural markets will be useful and will help achieve our target."
...Narasimhan said Magma Fincorp, which had applied for a universal banking licence, is not too keen to set up a small bank or a payments bank. "Based on the draft guidelines, we don't think we will opt for this model. But we will await the final guidelines from the Reserve Bank of India (RBI) before taking a final decision" he said

More Content

All (26) | News (26) | Reports (0) | Blogs (0) | Audio/Video (0) | Fact Sheets (0) | Press Releases (0)
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Avendus Fund II Makes Complete Exit From Portfo... [Published Deal Curry - 16 hours ago]
Magma Fincorp Q1 Disbursals up 33% at 2398 crs,... [Published Equity Bulls - 22 hours ago]
Sensex, Nifty rangebound; top 20 stock bets [Published Economic Times - 22 hours ago]
BSE Small-Cap index up almost 1% [Published Business Standard India - Aug 20 2014]
Kotak Banking : Steady improvement in performan... [Published APN News - Aug 18 2014]
Magma Fincorp shines on aiming to achieve 25% g... [Published Indian-Commodity - Aug 13 2014]
Magma Fincorp targets 25% growth in Punjab [Published Financial Express - Aug 13 2014]
8/12/2014: NEIGHBOURHOOD: Magma Fincorp announc... [Published Hindustan Times - Aug 12 2014]
Magma Fincorp eyes 25% growth in Punjab [Published Business Standard India - Aug 11 2014]
MAGMA FINCORP : Net profit dips [Published 4 Traders - Aug 04 2014]
Magma Fincorp consolidated Jun '14 sales at Rs ... [Published Moneycontrol.com - Aug 04 2014]
RBI Governor Rajan seen holding rates [Published Hindu Business Line - Aug 04 2014]
Magma HDI General Insurance turns profitable in... [Published Business Standard India - Aug 03 2014]
Engineered Systems Steering Oracle’s Growth In ... [Published CXOtoday - Aug 01 2014]
Marginal rise in Magma net [Published Calcutta Telegraph - Aug 01 2014]
Engineered Systems helping Oracle India’s growth [Published VAR India - Jul 31 2014]
Engineered Systems driving Oracle's growth in I... [Published Economic Times - Jul 30 2014]
Magma Fincorp looking to raise Rs 500 crore [Published Times of India - Jul 23 2014]
Magma Fincorp pegs 30 per cent growth in tracto... [Published Business Standard India - Jul 23 2014]
Reliance Mutual Fund picks banks, engineering; ... [Published Moneycontrol.com - Jul 22 2014]
Affordable housing to get cheap: Which stocks t... [Published Moneycontrol.com - Jul 16 2014]
Exide Life, Magma may not seek FDI despite govt... [Published DNA India - Jul 14 2014]
Two city firms in cash chase [Published Calcutta Telegraph - May 11 2014]
Punch after permit pang [Published Calcutta Telegraph - Apr 04 2014]
Magma Fin net profit takes a hit [Published Calcutta Telegraph - Feb 01 2014]
Magma Fincorp focusing on western, southern India [Published Topnews.in - Sep 05 2011]
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