ResultsCNBC-TV18
Manappuram shares drop 4% after CLSA upgrade
Negative-66Company event
GreyOak summary
Manappuram Finance shares declined nearly 4% despite CLSA upgrading the stock to 'outperform' with a target of ₹370. The company reported a 76.9% rise in Q2 PAT to ₹665 crore, driven by better margins and a 9% sequential growth in the gold loan book. However, asset quality concerns arose as Stage 2 loans jumped to 5%, prompting higher provisions.
What it affects
- Manappuram FinanceMANAPPURAMNegative -66
Shares fell 4% despite CLSA upgrade.Rolling sentiment Positive +22
Source
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