Manappuram Finance advances after reporting strong Q4 results

Manappuram Finance gained 4.51% to Rs 92.70 at 10:37 IST on BSE after consolidated net profit spurted 53.5% to Rs 200.58 crore on 38.1% increase in total income to Rs 905.50 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after the market yesterday, 25 May 2017.

Meanwhile, the S&P BSE Sensex was up 124.53 points, or 0.4% at 30,874.56. The S&P BSE Mid-Cap index was up 173.77 points, 1.22% at 14,400.78.

High volumes were witnessed on the counter. On the BSE, 5.58 lakh shares were traded on the counter so far as against the average daily volumes of 57, 2140 shares in the past one quarter. The stock had hit a high of Rs 94.45 and a low of Rs 91.15 so far during the day.

The stock had hit a record high of Rs 106.75 on 25 October 2016 and a 52-week low of Rs 51.30 on 26 May 2016. The stock had underperformed the market over the past one month till 25 May 2017, declining 5.13% compared with the Sensex's 2.69% rise. The scrip had also underperformed the market over the past one quarter declining 10.17% as against the Sensex's 6.43% rise.

The mid-cap company has equity capital of Rs 168.39 crore. Face value per share is Rs 2.

Manappuram Finance is a non-banking financial company (NBFC), providing finance against household gold ornament.

Powered by Capital Market - Live News