In March, reportedly, India's central bank had plans to ask lenders to follow stricter underwriting processes for gold loans and monitor the end-use of funds
Union Bank stock has been forming a 'Higher Top Higher Bottom' structure and has been a relative outperformer within the PSU Banking space in last couple of weeks, says Ruchit Jain of MOFSL.
A strategic deal with Bain Capital Asia, which will invest Rs 4,385 crore through a preferential allotment at Rs 236 per share, at a premium of 30%, will give it an 18% stake in the company
Stocks to Watch on Friday: IndusInd Bank, Manappuram Finance, Bajaj Finance, HUL, JSW Energy and Hindalco Industries are among the top stocks to watch today, March 21, 2025
The acquisition will be through a preferential allotment of equity and warrants at ₹236 per share, a 30 per cent premium over the six-month average trading price
The rise in the Manappuram Finance share price came in anticipation of the Board meeting, which is scheduled for today, March 20, 2025.
The rise in Manappuram Finance share price came after the company announced that the board of directors will consider raising funds on Thursday, March 20, 2025
In India, Gold futures surpassed the Rs 86,000 per 10 gram-mark on the Multi-commodity Exchange (MCX) last week
Deal negotiations got delayed owing to differences over loss-making segments of the Indian company
Manappuram's total revenue from operations rose 13.6 per cent to Rs 2516.27 crore, compared to Rs 2214.2 crore year-on-year (Y-o-Y). The company's net interest income also rose 5 per cent
The company's consolidated net profit halved to Rs 282 crore ($32.5 million) in the quarter, missing analysts' average estimate of Rs 459 crore, as per data compiled by LSEG
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Technical chart suggest that Muthoot Finance, Manappuram Finance and IIFL may witness some downward pressure in the near-term, and dip up to 17%; check key levels to track here.
For Manappuram Finance, the gold loan growth will continue to remain healthy, driven by demand-side tailwinds due to the poor availability of short-term personal and MFI loans.
Reserve Bank of India (RBI) lifted restrictions on all four non-banking financial companies (NBFC) imposed in October for charging exorbitant interest rates to the borrowers
Stocks to Watch, Jan 9, 2025: From Tata Motors to Manappuram Finance, here are few stocks that will be on investors' radar today
The statutory inspection of the companies was conducted by the RBI with reference to their financial position as of March 31, 2023
Spot gold gained 1.1 per cent to $2,662.98 per ounce, as of 01:41 PM ET (1841 GMT). US gold futures settled 1 per cent higher at $2,685.50
The gold loan financier's consolidated net profit rose 2% from last year to Rs 571 crore (about $68 million) for the three months ended Sept 30
According to the report, Asirvad contributes around 27 per cent to the consolidated assets under management (AUM) of Manappuram Finance