Buy Manappuram Finance, target price Rs 174: Yes Securities

Yes Securities has buy call on Manappuram Finance with a target price of Rs 174. The current market price of Manappuram Finance is Rs 164.25. Time period given by analyst is Intra Day when Manappuram Finance Ltd. price can reach defined target.

Manappuram Finance Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 13884.61 Crore) operating in NBFC sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 1630.25 Crore, down -1.20 % from last quarter Total Income of Rs 1650.00 Crore and up .75 % from last year same quarter Total Income of Rs 1618.15 Crore. Company reported net profit after tax of Rs 468.35 Crore in latest quarter.


Investment Rationale
Forming a series of ascending tops and bottoms, bulls have regained momentum on the upside. Positive follow-up action could lift the stock towards Rs. 174 zone.

Promoter/FII Holdings
Promoters held 35 per cent stake in the company as of March 31, 2021, while FIIs held 38.6 per cent, DIIs 8.9 per cent and public and others 17.6 per cent.