Poonawalla Fincorp shares rise over 3% on NBFC’s move to foray into commercial vehicles loan biz

Poonawalla Fincorp share price jumped by more than 3% after the company broadened its range of products with the introduction of its Commercial Vehicle (CV) Secured Loan Business. This new service is intended to strengthen the vital logistics and supply chain industries by improving transportation capabilities for CV operators, said the company in an exchange filing.

The financing is available for Small, Light, and Intermediate & Heavy Commercial Vehicles from all leading manufacturers, facilitating both new and pre-owned vehicle acquisitions. Additionally, customers will enjoy flexible, structured payment and repayment options.

In conjunction with this launch, Poonawalla Fincorp has rolled out a technology solution that reflects its risk-first strategy. This solution aims to simplify the documentation process for customers, allowing for quicker turnaround times and a smooth onboarding experience. Through collaborations with different technology partners, the company has created an assessment framework validated by trusted sources.

“Commercial transport sector continues to be the backbone of our growing economy. Our new Commercial Vehicle Loan directly facilitates the financial needs of transporters with streamlined processes and hassle-free documentation. It also adds clear strength to the bouquet of our secured businesses,” said Arvind Kapil, Managing Director & CEO of Poonawalla Fincorp.

Poonawalla Fincorp share price today

Poonawalla Fincorp share price today opened at an intraday low of ₹281.20 apiece, the stock touched an intraday high of ₹290.10 per share on the BSE.

Anshul Jain, Head of Research at Lakshmishree Investment and Securities stated that after an 11-month, 48% decline, the stock is finding support in the key ₹270-290 zone on the weekly chart. A tweezer bottom formation, followed by a strong follow-through move, signals a potential reversal. A breakout above ₹293 could trigger a rally toward the 50-day EMA at ₹300, with ₹330 emerging as a high-probability target. If momentum sustains, further upside is possible. Traders should watch for a decisive close above ₹293 for confirmation.

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