Mahindra & Mahindra Financial Services Stock Price & Quotes

Mahindra & Mahindra Financial Services (MMFIN), a subsidiary of Mahindra & Mahindra, is a non banking finance company. It was incorporated on Jan. 1, 1991 as Maxi Motors Financial Services and got its current name on Nov. 3, 1992. With focus on rural and semi-urban areas, the company provides finance for two wheelers, tractors, farm equipment, cars, utility vehicles, commercial vehicles and construction equipment. It has a group of experts providing investment advice and surveying available market products and choosing suitable ones for customers including mutual fund distributions. As a supplement to its lending business, the company has an insurance broking business through its wholly owned subsidiary, Mahindra Insurance Brokers. The company finances M&M`s sales, has full access to the parent`s dealer network, and is actively involved in M&M`s business planning. It has an agreement with Maruti Udyog to provide finance to all of the latter?s products. Under this pact, the company will leverage its strong rural presence to provide retail finance for Maruti vehicles. The company also provides financing for other non-competing auto brands as well as used vehicle financing. The company has 403 branches as on March 31, 2007. It has an arrangement with HPCL for providing financial services at select fuel service stations. Moreover, the company is undertaking various technology initiatives aimed at enhancing service levels, customer convenience and improving loan administration and recovery while minimizing costs. . The registered office of the company is at Gateway Building, Apollo Bunder, Mumbai-400001 and corporate office at Sadhana House, Second Floor, Behind Mahindra Towers, Worli, Mumbai-400018.