Page 4 - Manappuram Finance

Gold loan financiers get a thumbs up from stock market investors

RBI's latest move raising risk weights on loans is likely to hurt sentiment towards Muthoot and Manappuram

RBI imposes penalty on Axis Bank, Manappuram Finance for violating norms

The central bank imposed a monetary penalty of Rs 42.78 lakh on Manappuram Finance on account of failing to adhere to certain regulations

Manappuram Finance beats Q2 profit estimates, up 37% on high loan demand

Gold prices hit a record high earlier this year and though it saw some subsequent corrections, prices were up more than 20% year-on-year for the quarter

Easing oil prices lifts market mood; Sensex up 406 pts, Nifty near 19,550

Closing Bell on October 5, 2023: L&T, Titan Company, TCS, Bajaj Auto, M&M, Infosys, Eicher Motors, Asian Paints, and ICICI Bank were the top stocks that supported the indices, rising up to 2.15%

Quinag exits Manappuram Finance, sells entire stake for Rs 1,177 crore

Foreign fund house Quinag Acquisition on Thursday offloaded its entire stake in Manappuram Finance for Rs 1,177 crore through an open market transaction. According to the bulk deal data available with the BSE, Quinag Acquisition (FPI) disposed of 8,37,85,880 shares amounting to a 9.90 per cent stake in Manappuram Finance. The shares were offloaded at an average price of Rs 140.50 apiece, taking the transaction value to Rs 1,177.19 crore. At the end of June quarter, Quinag owned more than 8.37 crore shares which is equivalent to 9.90 per cent stake in the company, as per the shareholding data available with the BSE. Meanwhile, Bofa Securities Europe SA acquired 62.60 lakh shares and Chartered Finance and Leasi NG bought 50 lakh shares of Manappuram Finance. Shares of Manappuram Finance fell 2.64 per cent to close at Rs 142.25 apiece on the BSE. In a separate open market transaction on the BSE, promoter entity Sapphire Foods Mauritius pared a 2.5 per cent stake in restaurant operat

Manappuram Finance slips 4% after 10% equity change hands via block deal

At 09:15 AM; around 88.4 million shares representing 10.44 per cent of total equity of Manappuram Finance changed hands on the BSE, the exchange data shows.

Manappuram Finance Q1 results: Profit rises 76% on gold loan demand

Shares of the company closed 2.84% up after the results

Manappuram Finance launches digital lending app to widen reach

The platform is targeted at customers living in smaller cities and towns of India

ED searches may tarnish Manappuram's business prospects: Fitch report

Fitch Ratings on Wednesday said the recent search by the enforcement directorate at gold-backed lender Manappuram Finance highlights corporate governance challenges that can arise in emerging markets like India. "Such searches need not lead to further regulatory action, but investigations raise reputational risk that could tarnish a lender's business prospects and constrict funding access due to reduced market confidence - potentially affecting an issuer's credit profile - even if no wrongdoing is identified," Fitch added. The rating agency said Manappuram Finance Ltd has disclosed that the Enforcement Directorate's search at its premises pertained to legacy non-compliant activities at its branches up until 2012. Such searches are relatively rare, and can flag potential governance risks, but the activities the company has identified thus far as being involved are publicly known and Fitch has already factored them into its rating, "including our assessment of the company's corporate

ED acting on 'malafide' FIR related to 10-yr-old case: Manappuram Finance

He also clarified that the total value of shares attached by ED is worth approximately Rs 2,000 crore, not around Rs 140 crore as stated

Manappuram Finance faces reputational risk amid probe, says S&P

May impact investor confidence, Stock tanks 11.45% on BSE

Manappuram Finance says enforcement action against promoter, not company

Manappuram's promoter, V.P. Nandakumar, said in the notification that the probe was not related to the company but a private entity called Manappuram Agro Farms, which is no longer in existence

Manappuram in freefall as ED freezes Rs 143 cr-assets; sinks 21% in 3 days

With today's fall, the stock has lost 21 per cent since Wednesday, May 3 when the ED had first began searches at the company's premises

Manappuram Finance slumps 14% as ED raids premises in money laundering case

As per PTI, the raids were being undertaken to gather evidences related to allegations that the company collected public deposits worth over Rs 150 crore in contravention of RBI guidelines

Manappurm Finance hits 52-week high; up 11% in a week on improved outlook

CRISIL Ratings believes MFL's capitalisation and asset quality will remain strong supported by its gold loan business.

Manappuram, MGL: Select small-cap stocks are poised for bigger upside

Selective small-cap stocks may rally up to 22 per cent in coming months, show technical charts

Manappuram Finance extends gain; stock rallies 14% thus far in March

In the past one week, the stock has rallied 6 per cent, as compared to 0.11 per cent decline in the S&P BSE Sensex

We need to have a level-playing field with banks: Manappuram Finance CEO

It makes sense to go for bank gold loans if customers are borrowing larger ticket sizes, like Rs 10 or Rs 15 lakh, and for a longer period

Record gold price may not bring back sheen in Muthoot, Manappuram: Analysts

Analysts believe the continued aggression of banks and fintechs would make gold loan NBFCs pivot their business models to lower spreads and margin

Manappuram Finance plans to rope in private equity player for MFI unit

Manappuram holds about 98 per cent stake in Micro finance subsidiary