Manappuram Finance is currently trading at Rs. 33.55, up by 1.10 points or 3.39% from its previous closing of Rs. 32.45 on the BSE.
The scrip opened at Rs. 33.40 and has touched a high and low of Rs. 33.95 and Rs. 33.30 respectively. So far 106624 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 38.75 on 21-Nov-2014 and a 52 week low of Rs. 14.05 on 07-Jan-2014.
Last one week high and low of the scrip stood at Rs. 33.95 and Rs. 29.15 respectively. The current market cap of the company is Rs. 2822.25 crore.
The promoters holding in the company stood at 32.01% while Institutions and Non-Institutions held 42.87% and 25.12% respectively.
Manappuram Finance has received an approval for acquisition of 70% stake in Asirvad Micro Finance, Chennai, subject to approvals from Reserve Bank of India and to execute necessary agreements to conclude the transaction. The board of directors at their meeting held on December 23, 2014 has approved for the same.
The company also intends to increase its stake up to 85% by infusion of additional capital. The total capital commitment will be close to Rs 136.00 crore.
Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.
