Manappuram Finance gains as board mulls investment proposal

Manappuram Finance gained 3.03% to Rs 119.15 at 15:01 IST on BSE after the company scheduled a board meeting on 23 January 2018 at 11:00 IST at Mumbai to discuss on investment proposals.

The announcement was made during market hours today, 19 January 2018.

Meanwhile, the S&P BSE Sensex was up 240.59 points, or 0.68% to 35,500.88. The S&P BSE Mid-Cap index was up 110.72 points, or 0.63% to 17,740.17.

On the BSE, 2.02 crore shares were traded in the counter so far, compared with average daily volumes of 7.86 lakh shares in the past one quarter. The stock had hit a high of Rs 120.75 and a low of Rs 113.30 so far during the day. The stock hit a record high of Rs 126.40 on 8 January 2018. The stock hit a 52-week low of Rs 75.60 on 20 January 2017.

The stock had outperformed the market over the past 30 days till 18 January 2018, rising 13.61% compared with 4.39% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 11.52% as against Sensex's 8.86% rise. The scrip had also outperformed the market in past one year, surging 42.51% as against Sensex's 29.12% rise.

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

On a consolidated basis, Manappuram Finance's net profit fell 16.6% to Rs 160.37 crore on 1.1% fall in total income to Rs 839.80 crore in Q2 September 2017 over Q2 September 2016.

Manappuram Finance is one of India's leading gold loan non-banking financial companies (NBFCs).

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