IFC, a member of the World Bank Group, has anchored an investmentround of $222 million into Cholamandalam Investment & Finance Company (CIFCL) to help expandaccess to finance for micro and small borrowers, especially in the rural and semi-urban parts of India.

Of the total amount, $92 million is from IFC's own account and the rest syndicated from First Abu DhabiBank ($50 million), MUFG Bank ($50 million), National Bank of Ras AI-Khaimah PJSC ($20 million),and CTBC Bank Co.($10 million).

By bringing foreign banks as investors, IFC is helping CIFCL diversify its funding sources. This is thecompany's first US dollar-syndicated deal since January 2019, when the Reserve Bank of India permittedNBFCs to tap into the offshore credit market.

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Cholamandalam Investment & Finance Company Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 1422, up 5.27% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 2.85% on the day, quoting at 11732.25. The Sensex is at 38999.66, up 2.82%. Cholamandalam Investment & Finance Company Ltd has dropped around 0.33% in last one month.

Meanwhile, Nifty Financial Services index of which Cholamandalam Investment & Finance Company Ltd is a constituent, has dropped around 5.97% in last one month and is currently quoting at 12640.8, up 3.51% on the day. The volume in the stock stood at 2.33 lakh shares today, compared to the daily average of 3.47 lakh shares in last one month.

The benchmark May futures contract for the stock is quoting at Rs 1430.55, up 6.5% on the day. Cholamandalam Investment & Finance Company Ltd is down 7.53% in last one year as compared to a 11.56% spurt in NIFTY and a 22.35% spurt in the Nifty Financial Services index.

The PE of the stock is 17.8 based on TTM earnings ending March 19.

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Cholamandalam Investment & Fin. Co. announced that the Annual General Meeting (AGM) of the company will be held on 30 July 2019.

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Net profit of Cholamandalam Investment & Finance Company rose 2.31% to Rs 291.86 crore in the quarter ended March 2019 as against Rs 285.26 crore during the previous quarter ended March 2018. Sales rose 29.50% to Rs 1885.08 crore in the quarter ended March 2019 as against Rs 1455.69 crore during the previous quarter ended March 2018.

For the full year,net profit rose 29.17% to Rs 1186.15 crore in the year ended March 2019 as against Rs 918.30 crore during the previous year ended March 2018. Sales rose 27.61% to Rs 6991.97 crore in the year ended March 2019 as against Rs 5479.23 crore during the previous year ended March 2018.

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