Mid Cap NBFC Stock Showing Upward Trend, Buy For 58% Return, Target Price 175: Axis Securities
Axis Securities remains bullish on mid- cap NBFC sector stock, Manappuram Finance Ltd and assigned buy rating with a target price of Rs 175 apiece. If you buy Manappuram Finance today, you will get 58% potential return, according to the analyst.
It reported a rise of 11% in its Q 2 FY 23 consolidated net profit. Check key takeaways below:
1. Manappuram Finance Stock Performance
The current market price of the stock is Rs 111 apiece. Its 52- week high is quoted at Rs 179 apiece and 52- week low is quoted at Rs 81 apiece, respectively.
2. Manappuram Finance Market Capitalisation
The company has a market capitalisation of Rs 9,458.46 as of writing the story.
3. Manappuram Finance Return
The stock has given a negative return of 36% in last 1- year and 30% in last 3- years. The stock has given returns of 9% in last 3- months, and 8% in last 1- month.
4. Manappuram Finance Latest Quarterly Results
The NBFC company declared a consolidated net profit at Rs 409 crore in Q 2 FY 23, up 11% compared to Rs 369 crore declared in the year ago quarter.
Meanwhile, the consolidated assets under management or AUM surged by 8% to 30,664 crore from 28,421 crore from a year ago.
5. Manappuram Finance About
Manappuram Finance Ltd. is one of India's leading gold loan NBFCs. It is the first non- banking financial company ( NBFC) in Kerala to receive a Certificate of Registration issued by the RBI, it was also among the earliest to go for an IPO in 1995.
The stock has been picked from the brokerage report of Axis Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article.
Goodreturns.in advises users to check with certified experts before taking any investment decision.
By Renu Baliyan Goodreturns source: goodreturns.in Dailyhunt