Manappuram Finance surged 8.47% to Rs 23.05 at 10:19 IST on BSE, after a ratings firm revised its rating outlook on ratings of the long-term debt instruments and bank facilities of the company.
The announcement was made after market hours on Monday, 10 February 2014.
Meanwhile, the S&P BSE Sensex was 40.25 points or 0.2% at 20,374.52
On BSE, so far 4.91 lakh shares were traded in the counter as against average daily volume of 5.77 lakh shares in the past one quarter.
The stock hit a high of Rs 23.25 and a low of Rs 21.25 so far during the day. The stock had hit a 52-week low of Rs 9.85 on 16 July 2013. The stock had hit a 52-week high of Rs 38.55 on 11 February 2013.
The stock had outperformed the market over the past one month till 10 February 2014, rising 1.19% compared with the Sensex's 2.04% fall. The scrip had also outperformed the market in past one quarter, gaining 26.49% as against Sensex's 1.61% fall.
The small-cap company has equity capital of Rs 168.24 crore. Face value per share is Rs 2.
Manappuram Finance after market hours on Monday, 10 February 2014 said that CRISIL has revised its rating outlook on ratings of the long-term debt instruments and bank facilities of the company from 'Negative' to 'Stable' on 5 February 2014.
Manappuram Finance's net profit fell 15.8% to Rs 71.06 crore on 10.4% decline in total income to Rs 535.06 crore in Q3 December 2013 over Q3 December 2012.
Manappuram Finance is a leading national player in its core activity of gold loans.
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