Loan recovery line pushes M&M Financial shares lower
Shares of Mahindra & Mahindra Financial Services Ltd (M&M Financial) are on a downward spiral. Investor sentiment towards the stock soured after the Reserve Bank of India (RBI) last week ordered it to immediately cease recovery and repossession activities through agreements outsourcing. Shares of the non-bank financial corporation (NBFC) fell another nearly 6% on Monday, extending losses from Friday. With that, in the past two days, the stock is down 18%.