Company Background :
Manappuram Finance Limited is an India-based non-banking financial company (NBFC). The Company provides a range of fund based and fee based services including gold loans, money exchange facilities, and others. It is also engaged in the housing finance owing to low loan defaults. It provides customers with credit primarily against their used gold jewelers.
The Company’s business areas include gold loan, money transfer, housing finance and foreign exchange. It provides higher amount of loans depending upon the purity, net weight of the gold. The money transfer service is available in all the branches. The Company acts as a money changer, undertaking currency exchanges and sale of travellers’ cheques for a variety of purposes.
It operates through 3,293 branches spread across the country.
Stock Performance :
During the last 1 year the scrip has gained more than 250% from the lows of Rs.22 it has reached a 52 week high of 59 recently
During the last 6 months scrip turned bullish the scrip has gained more than 110% from the lows of Rs.26 it has reached a 52 week high of Rs.59
During the last 3 months has been good gained more than 40% from the lows of Rs.34 it raced to Rs.59
One month - High 59 and Low of Rs.42 currently hovering around peak levels.
Our Recommendation :
For long term returns looking for capital protection and decent appreciation buy around current levels and hold for 18 months for a target price of Rs.101
Smart Investor -
No.24 Pattamal Plaza
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