The stock is down 11% from its 52-week high of Rs 346.40 hit on 4 July 2023. The counter has soared 75% from its 52-week low of Rs 176.30 hit on 28 September 2022.

The scrip had outperformed the market in past one month, advancing 12.52% as against 3.08% increase in the Nifty 50 index.

The scrip underperformed the market in past one quarter, sliding 3.37% as against Nifty's 5.78% rise.

The counter had outperformed the market in past one year, surging 36.13% as against Nifty's 11.72% increase.

On the technical front, the stock's daily RSI (relative strength index) stood at 61.34. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50 day, 100-day and 200-day simple moving average (SMA) placed at 299.85, 299.20 and 270.73, respectively. These levels will act as crucial support zones in near term.

Mahindra & Mahindra Financial Services, part of the Mahindra Group, is one of India's leading non-banking finance companies. Focused on the rural and semi-urban sector, the company has over 8.4 million customers and has an AUM of over $11 billion. The company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits.

The company's net profit surged 58.2% to Rs 352.66 crore on 25.09% jump in total income to Rs 3,125.41 crore in Q1 FY24 over Q1 FY23.