Buy Manappuram Finance, target price Rs 220: Edelweiss

Edelweiss has buy call on Manappuram Finance with a target price of Rs 220. The current market price of Manappuram Finance is Rs 204.55.

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 17308.77 Crore) operating in NBFC sector.


Manappuram Finance Ltd. key Products/Revenue Segments include Interest, Other Operating Revenue, Dividend, Fees & Commission Income and Income From Sale Of Share & Securities for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1573.74 Crore, down -3.47 % from last quarter Total Income of Rs 1630.25 Crore and up 3.78 % from last year same quarter Total Income of Rs 1516.47 Crore. Company reported net profit after tax of Rs 436.85 Crore in latest quarter.

Investment Rationale
Follow-through to the swing rally with a trendline breakout active since the previous all-time high

Promoter/FII Holdings
Promoters held 35.05 per cent stake in the company as of 30-Sep-2021, while FIIs owned 34.93 per cent, DIIs 13.43 per cent.