Manappuram Finance Share Price Target: Analysts at global brokerage Morgan Stanley have maintained its 'equalweight' stance on Manappuram Finance and raised the share price target price from Rs 270 after revisions in earnings and loan growth projections.

The brokerage raised consolidated EPS estimates for FY27 and FY28 by 5.2 per cent and 7.2 per cent, respectively, while FY26 EPS remained largely unchanged (<0.1 per cent cut).

Morgan Stanley expects consolidated loan growth for FY26 at 18 per cent YoY, up from a previous estimate of 13 per cent, assuming 3QFY26 gold loan growth of 10 per cent QoQ.

On the margins front, FY26-28 consolidated net interest margin (NIM) is revised down to 11.9 per cent from 12.1 per cent, reflecting slightly lower profitability per unit of asset.

The brokerage also said that higher loan growth is expected to offset the lower NIM and kept overall earnings stable for FY26.

"Manappuram's growth outlook remains positive, supported by robust gold loan demand, even as margins moderate slightly," according to the brokerage.

Manappuram Finance Share Price Target

The global brokerage has maintained an 'equalweight' rating on Manappuram Finance shares with a target of Rs 285.

Manappuram Finance stock vs BSE Sensex: Past performance