Hot Chips - Manappuram Finance
Ali On Content / 26 Apr 2010
Manappuram Finance is India’s largest listed and highest credit-rated gold loan company. The company can be looked upon for both short and medium-term perspective.
Manappuram Finance
BSE Code: 531213
Volume: 101234
CMP: 810.80
The company is India’s largest listed and highest credit-rated gold loan company. Mainly based in South India, it has the total branch network of 1044. It has recently raised Rs 224 crore through QIP at Rs 691 per share. Major participants include Credit Suisse Singapore, Merrill Lynch Capital Market, India Capital Fund, Morgan Stanley Mutual Fund, SBI Mutual Fund, etc. The company now plans to expand in northern India. Its shareholding pattern experienced a significant change as the FII stake increased to 10.65 per cent for the quarter ended March 2010 from 3.76 per cent for the quarter ended December 2009. The results of the company are also on a northbound journey as the net profit for the 9MFY10 stands at Rs 76 crore, much higher than that posted in the entire FY09. The company has recently announced bonus in the ratio 1:1 and split from Rs 10 to Rs 2. The EGM is scheduled to be held on April 22, 2010 in which the record date may be announced. The company can be looked upon for both short and medium-term perspective.
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