Manappuram Finance spurts on receiving Brickwork’s rating reaffirmation for NCD issue

26 Jun 2012 Evaluate

Manappuram Finance is currently trading at Rs 29.60, up by 2.45 points or 9.02% from its previous closing of Rs 27.15 on the BSE.

The scrip opened at Rs 28.00 and has touched a high and low of Rs 29.60 and Rs 27.60 respectively. So far 1847037 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 67.10 on 14-Nov-2011 and a 52 week low of Rs 18.60 on 10-May-2012.

Last one week high and low of the scrip stood at Rs 27.70 and Rs 21.55 respectively. The current market cap of the company is Rs 2283.73 crore.

The promoters holding in the company stood at 31.55% while Institutions and Non-Institutions held 36.27% and 32.18% respectively.

Credit rating agency, Brickwork Ratings has reaffirmed its ‘BWR AA-’ rating for Manappuram Finance's non-convertible debentures (NCD) issue of Rs 750 crore and Rs 100 crore. Recently, ICRA had removed Manappuram Finance’s rating from ‘Rating watch with Developing Implications’. The outlook on the company’s long term rating was stable.

Manappuram Finance is a non-deposit taking NBFC and is mainly engaged in providing retail advances against bullion asset collaterals, in the form of household used jewellery. The company is having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh and had 2,908 branches across India at the end of FY 12.

Manappuram Finance Share Price

184.65 3.45 (1.90%)
23-Dec-2024 10:12 View Price Chart
Peers
Company Name CMP
Bajaj Finance 6947.30
Shriram Finance 2949.25
Aditya Birla Capital 187.15
SBI Cards AndPayment 693.65
Mah & Mah Finl. Serv 269.00
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.