Shares of Cholamandalam Investment and Finance Company jumped 8% after the firm dismissed a Cobrapost report alleging large related‑party transactions, cash irregularities, and governance lapses.
The company clarified the claims were “malicious and baseless” and reaffirmed that its asset quality, liquidity, and business guidance remain unchanged, with no revision to its board-approved plans.
Cholamandalam emphasized robust financials, including strong cash balances and adherence to reporting standards. Analysts maintained their “Buy” ratings, signaling confidence in the firm’s fundamentals despite the controversy. The stock’s reaction reflects investor reassurance following the firm’s clarification.