Manappuram Finance is currently trading at Rs. 113.25, up by 0.35 points or 0.31% from its previous closing of Rs. 112.90 on the BSE.
The scrip opened at Rs. 112.80 and has touched a high and low of Rs. 113.75 and Rs. 111.35 respectively. So far 45290 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 130.45 on 09-May-2018 and a 52 week low of Rs. 66.40 on 08-Oct-2018.
Last one week high and low of the scrip stood at Rs. 114.95 and Rs. 103.30 respectively. The current market cap of the company is Rs. 9544.82 crore.
The promoters holding in the company stood at 35.14%, while Institutions and Non-Institutions held 45.16% and 19.70% respectively.
Manappuram Finance has received approval to equity infuse up to Rs 120 crore in its subsidiary -- Asirvad Micro Finance in addition to the earlier approval on for equity infusion in Asirvad up to Rs 150 crore. The capital infusion is a related party transaction and will be made at arm’s length.
The capital infusion of the company will facilitate in business growth of the subsidiary. The business is both scaleable and profitable and hence will be key growth driver for Manappuram Finance. The indicate time period for the proposed capital infusion would be two months.
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.
