Page 4 - Manappuram Finance

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

Manappuram Finance Q2 consolidated net profit rises 11% to Rs 409 crore

Manappuram Finance on Saturday reported a 10.7 per cent rise in consolidated net profit at Rs 409.48 crore for the quarter ended September 30, 2022. The non-banking finance company, which is mainly into gold loans, had posted a net profit of Rs 369.88 crore in the year-ago quarter. Sequentially, profit grew by 45 per cent from the June 2022 quarter. The company's consolidated assets under management (AUM) grew by 7.89 per cent to Rs 30,664.96 crore from Rs 28,421.63 crore a year ago, Manappuram Finance said in a release. The board of directors has approved payment of interim dividend of Rs 0.75 per share with face value of Rs 2 each, it added. The company's MD and CEO V P Nandakumar said, "We have posted a sequential increase in profit of 45 per cent. It is in line with our commitment to maintain operational efficiency even as we target growth." The gold loan portfolio of the South-based company was at Rs 19,190 crore, while the number of gold loan customers reached 24.1 lakh in

Stocks to Watch: NBFCs, RIL, Concor, IOL Chemicals, M&M, Jet Airways, VIL

Stocks to Watch Today: Analysts recommend lack of clarity on the new policy may limit the upside on Concor; Govt to acquire stake in Voda Idea after the stock stabilizes above Rs 10.

Fitch affirms rating for 4 NBFCs, maintains stable outlook for all

The financial condition of Shriram Transport Finance, Muthoot Finance, Manappuram Finance and IIFL Finance is satisfactory, says agency

SBI, DLF, Bajaj Auto, Manappuram look good on charts post RBI policy

Manappuram Finance has so far on Friday post RBI rate hike has logged its biggest intra-day gain this year, the stock along with DLF, SBI and Bajaj Auto can rally up to 14 per cent in the near term.

Stocks to Watch: Britannia, GAIL, Reliance, Adani Enterprises, Paytm, Nykaa

Stocks to Watch: With oil prices staging a dramatic reversal, related stocks, along with rate-sensitive sectors will be on the radar as RBI announces its monetary policy outcome Friday.

Sensex snaps 6-day winning streak ahead of RBI policy outcome, dips 52 pts

CLOSING BELL: PSU banks were the worst hit today with the Nifty PSB index down 1.75 per cent