Manappuram Finance surges after large bulk deal

Manappuram Finance jumped 11.48% to Rs 94.65 at 15:25 IST on BSE after a large bulk deal of 1.41 crore shares was executed on the scrip at Rs 96.50 per share at 14:04 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 271.69 points, or 0.86% to 31,252.99. The S&P BSE Mid-Cap index was down 221.03 points, or 1.45% to 14,987.43

Bulk deal boosted volume on the scrip. On the BSE, 2.02 crore shares were traded in the counter so far, compared with average daily volumes of 5.98 lakh shares in the past one quarter. The stock had hit a high of Rs 96.75 and a low of Rs 83.70 so far during the day. The stock hit a record high of Rs 110.40 on 25 July 2017. The stock hit a 52-week low of Rs 57.80 on 26 December 2016.

The stock had underperformed the market over the past one month till 18 August 2017, sliding 16.64% compared with the Sensex's 0.59% fall. The scrip also underperformed the market over the past one quarter, declining 5.4% as against the Sensex's 3.58% rise. The scrip had also underperformed the market over the past one year, falling 2.86% as against the Sensex's 12.09% 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 3.22% to Rs 155.17 crore on 11.35% increase in net sales to Rs 830.82 crore in Q1 June 2017 over Q1 June 2016.

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

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