Espresso Shot of the Day - Manappuram Finance Ltd up by 7.26%

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Espresso Shot of the Day - Manappuram Finance Ltd up by 7.26%

November 14, 2022
Espresso Shot of the Day - Manappuram Finance Ltd up by 7.26%

MANAPPURAM FINANCE LTD 116.65  (+7.26%) BSE –INE522D01027| 14th November 2022

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Manappuram Finance Ltd. is one of India’s largest and most trusted gold loan companies, with 4,199 branches across the length and breadth of the country. It currently has nearly assets worth Rs.157.65 billion under management (AUM), and 20,185 employees. Promoted by Shri. V.P. Nandakumar, the current MD & CEO, the company was founded in the modest coastal village of Valapad (Thrissur District) by his late father Mr. V.C. Padmanabhan in 1949. 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. In 2007 Sequoia Capital invested Rs.700 million along with Hudson Equity Holdings, heralding a period of accelerated growth, and in 2010 it became the first NBFC in Kerala to obtain the highest short term credit rating of A1+ from ICRA. In 2010, it became the first Kerala-based NBFC to offer ESOPs (Employee Stock Option Plan) to its middle and senior management functionaries.

Recent Drivers

  • On November 13, 2022, the non-banking finance company, which is mainly into gold loans, had posted a net profit of Rs. 369.88 crores in the year-ago quarter. Sequentially, the profit grew by 45 per cent from the June 2022 quarter.
  • On November 13,2022, Manappuram Finance reported a 10.7 per cent rise in consolidated net profit at Rs. 409.48 crores for the quarter ended September 30, 2022.
  • On November 13,2022, the company's consolidated assets under management (AUM) grew by 7.89 per cent to Rs. 30,664.96 crores from the Rs.28,421.63 crores reported a year ago
  • On November 13th, the board of directors had approved payment of interim dividend of Rs 0.75 per share with face value of Rs 2 each.
  • On October 27th, Manappuram Finance the NBFC announced that its board may consider raising funds through debt securities in November 2022.The Kerala-based gold NBFC said that it is considering various options for raising funds through borrowings including by the way of issuance of various debt securities in onshore/offshore securities market by public issue, on private placement basis or through issuing commercial papers.
  • On October 18, 2022, Manappuram Jewellers Ltd, a Manappuram group company, has set up a manufacturing unit at Ankurhati in West Bengal, an official said on Monday. This unit, the company's second after Bangalore, will be formally inaugurated.
  • On September 22nd, Manappuram Jewellers Ltd signed an agreement with Titan Company Ltd for the manufacture of gold and diamond jewelry for the latter.
        (Sources: BSE, Money control, The Hindu Business line)

Technical Force

  • S&P BSE 500 month till date gain by 1.49%.
  • 3 months avg. BSE volume: 518,968
  • Spurt in Volume by more than 2.53 times
  • Quantity traded: 13,86,022| Deliverable quantity: 2,52,256 (18.20%).
  • Stock price jumped by more than 40 % from a one-year low level: 81.50 (20th June, 2022)
  • Daily RSI (14) is around overbought territory today.
  • 52-week-high: 219.90| 52-week-low: 81.50.


Key Pivot (Yearly)

R4

R3

R2

R1

PP/FIB PP

S1

S2

S3

S4

Pivot Point

-

298.40

261.40

213.00

176.00

127.60

90.60

42.20

-

Fibonacci Pivot

261.40

228.78

208.62

195.64

176.00

156.36

143.38

123.22

90.60


Today’s Close

116.65

SMA

BSE

10 DAY

107.18

20 DAY

105.30

50 DAY

102.42

200 DAY

108.18


Some Key Ratios (Source: BSE)

Market Cap:  9,873.19 Crores

PE:  8.49

OPM%: -

ROE%:  13.73

Promoters holding%: 35.18

Prev. Close:  108.75


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The scope and usability of this information/data is time-sensitive and market-based, and as such the same may become outdated for the investment decisions of clients, for which Espresso Financial Services Pvt. Ltd bears no responsibility. References to securities do not constitute a recommendation to buy, sell or hold such securities. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document and should consult his own advisors to determine the merits and risks of such an investment. Espresso Financial Services Pvt. Limited is under no obligation to update the information in this document from time-to-time.

Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.