Top Stocks Today : IIFL Securities has Buy call on Manappuram Finance - July 10

On July 10, IIFL Securities issued a buy recommendation for Manappuram Finance at the current market price of Rs 215.9. The brokerage firm anticipates a target price of Rs 222 for the stock, indicating a potential upside of approximately 2.8%. This positive outlook is likely attributed to Manappuram Finance's strong financial performance, robust gold loan business, and the anticipated benefits from the RBI's recent interest rate hikes.

About Manappuram Finance:

Manappuram Finance is a non-banking financial company (NBFC) headquartered in Valapad, Kerala, India. It is one of the leading gold loan companies in India, providing loans against the security of gold jewelry. As of March 2023, the company had a network of over 3,200 branches across India and a customer base of over 2.8 million. Manappuram Finance also offers various other financial products and services, including personal loans, home loans, vehicle loans, and insurance. The company is listed on the National Stock Exchange of India (NSE) and has a market capitalization of over ₹16,000 crores.

52 Week Price Trend:

Manappuram Finance's (NSE: MANAPPURAM) current market price (CMP) of Rs 215.9 falls within its 52-week range of Rs 101.7 (low) and Rs 193.35 (high). This indicates that the stock is currently trading above its lowest point in the past year but below its highest point. Investors should note that these 52-week ranges provide historical context but do not guarantee future performance. It is important to consider the company's fundamentals, market conditions, and overall economic outlook when making investment decisions.

Stratzy's MOST Analysis:

Manappuram Finance has received an AA- rating from Stratzy's MOST Framework, which assesses Management, Outlook, Safety, and Trend. This signifies that Manappuram Finance poses a medium level of fundamental risks. The company's financial performance, customer satisfaction, and risk management practices have all been positively evaluated. The AA- rating indicates that Manappuram Finance is a relatively safe investment option with strong fundamentals and a promising outlook.

Company's Fundamentals:

Manappuram Finance (NSE: MANAPPURAM) is a non-banking financial company (NBFC) that provides gold loans, microfinance, and other financial services. The company's stock is currently trading at a price-to-earnings (PE) ratio of 7.55, which means that investors are willing to pay 7.55 times the company's earnings per share. The price-to-book (PB) ratio is 1.46, which means that the stock is trading at a premium to its book value. The dividend yield is 1.65%, which means that investors can expect to receive an annual dividend of Rs 1.65 for every Rs 100 invested in the stock.

Fundamental and Technical information provided in this blog were last updated on 10 Jul, 2024

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