Poonawalla Fincorp share price jumps after THIS fresh announcement. Do you own?

Poonawalla Fincorp share price surged as much as 2.47 per cent in Tuesday's trading session after the company announced the launch of its consumer durables loans business.

At 1 pm, Poonawalla Fincorp stock was trading at ₹407.35 apiece on NSE on April 22.

Details on newly-launched business

Cyrus Poonwalla-promoted NBFC, said in a press release dated April 22, that the company has introduced a digital EMI card with pre-approved limits, enabling customers to purchase consumer durable products more conveniently.

“This launch marks the company’s strategic entry into a fast-growing, high-velocity segment of retail lending, strengthening its ability to build a deeper, more scalable retail franchise while enhancing profitability and lifetime customer value,” Ponawalla Fincorp said.

Consumer durable loans present PFL with a strategic opportunity to drive faster customer franchise growth through instant, point-of-sale loans and digital onboarding, enabling real-time customer acquisition and building scale efficiently with a tech-first approach. Additionally, this offering creates a strong cross-sell flywheel, as consumer durable loan customers become potential leads for personal loans, insurance, and other financial products—creating a natural cross-sell funnel, high engagement and strong visibility across cities and catchments.

“This is not just a product launch - it’s a strategic lever to scale our retail business faster, deeper, and more profitably. It unlocks access to millions of new customers and enables us to serve them across their financial lifecycle," said Arvind Kapil, Managing Director & CEO of Poonawalla Fincorp.

With this business launch, PFL has now launched 6 new businesses in line with its commitment. With the addition of Consumer Durable Loan business, the company has further strengthened its secured lending portfolio.

NBFC stock Poonawalla Fincorp has given multibagger returns to its investors by surging over 1,979.85 per cent in past five years.

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