ICICI Securities has upgraded Manappuram Finance from 'Hold' to 'Buy,' identifying an inflection point for the company as it shifts its core focus toward gold loans, tightens asset quality controls
Manappuram Finance shares touched 52-week highs at Rs 247.6 as Bain Capital plans to acquire 18 percent stake in the company. The stock closed at Rs 324.40, just 7.77 percent higher.
Motilal Oswal has issued a detailed research report on Manappuram Finance, maintaining a "Neutral" rating with a target price of Rs 205, implying a 14% upside from the current market price of Rs 18
Indian markets opened positive on Monday with NSE Nifty trading 150 points higher. NSE Nifty touched intraday high at 23,806 at the time of publication of this report.
