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BUZZ-India's Manappuram Finance hits over 2-mth low on weak Q2
November 8, 2017 / 5:49 AM / 11 days ago

BUZZ-India's Manappuram Finance hits over 2-mth low on weak Q2

** Manappuram Finance Ltd falls as much as 6.7 pct to 92.45 rupees, its lowest since Aug. 29

** Non-banking financial company posted a 17 pct fall in consolidated profit for the September qtr to 1.60 bln rupees ($24.58 million)

** Its gold loan business performance was muted as smaller players and the unorganised sector were most impacted by the scrapping of high-value banknotes and the rollout of a nationwide sales tax, analysts at Antique Stock Broking say ** The microfinance business too suffered losses on account of defaults in the southern Indian state of Karnataka - Antique Stock Broking ** Stock posts biggest intra-day pct loss in nearly three months ($1 = 65.0825 Indian rupees)

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