Reuters logo
BUZZ-India's Manappuram Finance surges to 3-1/2-month high on Q3 results
February 9, 2017 / 4:33 AM / 10 months ago

BUZZ-India's Manappuram Finance surges to 3-1/2-month high on Q3 results

** Shares of Manappuram Finance Ltd jump as much as 12.8 pct to 105 rupees, highest since Oct 25, 2016

** Dec-quarter profit for the company doubled to 2.03 bln rupees ($30.31 million)

** Research firm Daiwa Capital Markets upgrades stock’s rating to “buy” from “outperform”, raises target price to 130 rupees from 115 rupees

** Daiwa expects company’s profitability to remain strong due to stricter guidelines on gold loans and micro-finance businesses

** Over 11 mln shares changed hands in the first 30 minutes of trade, more than the 30-day average of 4 mln shares

** Stock records biggest intraday pct jump since July 4, 2016 ($1 = 66.9825 Indian rupees) (arnab.paul@thomsonreuters.com@reuters.net)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below