Mumbai, September 9 (Kiran News) — Shares of Sundaram Finance moved higher on Tuesday after its wholly-owned subsidiary, Sundaram Home Finance, announced its foray into the Karnataka market under its Emerging Business segment.
The subsidiary aims to make disbursements of around ₹60 crore in the first year of operations in Karnataka. As part of its first phase of expansion, it plans to set up 8–10 branches in Tier II and Tier III towns across the state.
Currently, Sundaram Home Finance operates more than 50 branches in Tamil Nadu and Andhra Pradesh under the Emerging Business segment. Last year, it disbursed about ₹200 crore under this category. The Emerging Business vertical caters to small business loans up to ₹20 lakh and affordable housing finance up to ₹40 lakh.
On the BSE, Sundaram Finance was trading at ₹4,491.60, up by ₹14.30 or 0.32 percent from its previous close of ₹4,477.30. The stock opened at ₹4,459.00 and touched an intraday high of ₹4,526.00 and a low of ₹4,458.00. A total of 1,017 shares changed hands during the session.
The Group ‘B’ stock, with a face value of ₹10, has a 52-week high of ₹5,528.85 (September 27, 2024) and a 52-week low of ₹3,940.85 (December 2, 2024). Over the last week, it has traded between ₹4,310.95 and ₹4,557.00.
Sundaram Finance’s market capitalization currently stands at ₹50,113.95 crore. Promoters hold 37.22 percent stake, institutional investors own 26.63 percent, and non-institutional shareholders account for 36.15 percent.
Sundaram Finance has a diversified presence across financial services, including mutual funds, housing finance, general insurance, IT, business process outsourcing, and retail distribution of financial products.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
