Sundaram Finance advances on subsidiary bagging three deals in West Asia

Sundaram Finance is currently trading at Rs. 725.00, up by 19.55 points or 2.77% from its previous closing of Rs. 705.45 on the BSE. The scrip opened at Rs. 718.00 and has touched a high and low of Rs. 727.80 and Rs. 714.00 respectively. So far 830 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 749.95 on 25-Apr-2014 and a 52 week low of Rs. 463.10 on 04-Sep-2013. Last one week high and low of the scrip stood at Rs. 735.00 and Rs. 690.00 respectively. The current market cap of the company is Rs. 8056.14 crore. The promoters holding in the company stood at 36.07 % while Institutions and Non-Institutions held 12.78 % and 51.16 % respectively. Sundaram Finance’s IT subsidiary - Sundaram Infotech Solutions has bagged three large IT and ERP deals in West Asia. These include its first overseas non banking financial company (NBFC) deal with a Muscat-based fund management firm to implement term loan, financial accounting and treasury modules of its lending software solution SmartLend3G (S3G). The company has also bagged onsite ERP deal from perfume manufacturer Swiss Arabian Perfumes Group, in UAE. Another ERP deal is in the sports space. Sundaram Finance is one of the oldest and largest providers of finance for the acquisition of commercial vehicles of all makes. The commercial vehicle finance provided by it helps the small operators to acquire vehicles with minimum hassle and documentation.