The share price of Manappuram Finance has crossed the Rs 150 mark and is currently trading above this level. Motilal Oswal, a domestic brokerage firm, has advised investors to buy the company’s shares. However, experts argue that the decline in share price should be seen as an investment opportunity. According to analysts, Manappuram Finance’s shares could rise by up to 9% from the current level. On Wednesday, December 6, 2023, the share closed at Rs 164.40 with a decline of 0.18%. On Thursday, December 7, 2023, the share was trading at Rs 166, up by 0.97%. The share price of Manappuram Finance was trading at Rs 90 on December 8, 2006, and is now trading at Rs 164.75 per share. Those who invested Rs 55,000 in the company’s shares 17 years ago have now become crorepatis. On February 27, 2023, the share was trading at an annual low of Rs 101.15, and on December 4, 2023, it reached an annual high of Rs 170.50 with a gain of 68%. However, in the past few days, the share price has declined by 3% due to profit booking.
Motilal Oswal has increased its EPS estimate for Manappuram Finance by 5% for the fiscal year 2024 and by 6% for the fiscal year 2025. According to experts, there is a possibility of a 27% increase in the company’s consolidated net profit during the fiscal years 2023-26, with a CAGR rate. According to the brokerage firm, the share price of Manappuram Finance could touch Rs 180, hence they recommend investors to buy the shares.
★Manappuram Finance company’s share price is currently trading above 150 rupees.
★Motilal Oswal, a domestic brokerage firm, has advised investors to buy the company’s shares.
★There has been selling pressure on the company’s shares in the past few days.
★Experts argue that the decline in share price should be seen as an investment opportunity.
★According to analysts, Manappuram Finance’s share price can increase by up to 9% from the current level.
★On Wednesday, 6 December 2023, the share closed at 164.40 rupees with a decline of 0.18%.
★On Thursday, 7 December 2023, the share was trading at 166 rupees with a 0.97% increase.
★In 2006, the share was trading at 90 paise, and it is currently trading at 164.75 rupees per share.
★People who invested 55,000 rupees in the company’s shares 17 years ago have become crorepati (millionaires).
★On 27 February 2023, the share was trading at 101.15 rupees, which was its annual low.
★On 4 December 2023, the share reached its annual high of 170.50 rupees with a 68% increase.
★However, the share price has declined by 3% in recent days due to profit booking.
★Motilal Oswal has increased the estimated EPS (earnings per share) of Manappuram Finance for the financial year 2024 by 5% and for 2025 by 6%.
★According to experts, there is a possibility of a 27% increase in the company’s consolidated net profit during the financial years 2023-26.
★Brokers suggest that Manappuram Finance’s share can touch a price of 180 rupees, hence recommending investors to buy the shares.
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