BSE 23 May 12 | 12:00 AM
Code: 532720
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NSE 23 May 12 | 12:00 AM
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M&M Financial Serv gains on hopes of getting banking license
SI Reporter / Mumbai 20 Jun 11 | 01:34 PM
Mahindra and Mahindra Financial Services has moved higher by 2% at Rs 623 in an otherwise weak market on hopes of getting banking license.
The Reserve Bank of India (RBI) has agreed to let Reliance Group and Mahindra and Mahindra Group apply for licences. The RBI is set to release draft guidelines for the new licences in the coming weeks, the newspaper report suggested.
The stock opened at Rs 615 and hit a high of Rs 625 on the NSE. A combined 44,422 shares have changed hands on the counter till 1348 hours.
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