ResultsEconomic Times
Manappuram shares drop 3% as profit soars 3x
GreyOak summary
Manappuram Finance shares fell 3% after reporting a 3x surge in Q2 net profit to Rs 701 crore. Revenue jumped 48% to Rs 3,362 crore, driven by gold loan growth. Jefferies maintained a 'Buy' rating but cut the target price to Rs 400, citing lower gold prices and higher provisions.
What it affects
- Manappuram FinanceMANAPPURAMNegative -33
Shares dropped 3% despite profit surge.Rolling sentiment Positive +22
Source
Read the original at Economic TimesMore Manappuram Finance news
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