Buy Manappuram Finance, target Rs 116.0 : Sumeet Bagadia

Sumeet Bagadia of Choice Equity Broking Private Ltd has a buy call on Manappuram Finance Ltd. with a target price of Rs 116.0 . The current market price of Manappuram Finance Ltd. is 101.9 Time period given by analyst is month when Manappuram Finance Ltd. price can reach defined target. Sumeet Bagadia recommended to keep stoploss at Rs 97.
On a daily chart, the stock has given a breakout of its upper band of lower top lower bottom formation which indicates robust upside movement in the counter. Moreover, the stock has been trading above its 100 days moving average.
Manappuram Finance Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of ₹ 8558.42 Cr.) operating in Finance sector.

Manappuram Finance Ltd. key Products/Revenue Segments include Interest which contributed ₹ 2189.80 Cr to Sales Value (98.94 % of Total Sales), Processing Charges which contributed ₹ 12.87 Cr to Sales Value (0.58 % of Total Sales) and Other Operating Revenue which contributed ₹ 10.41 Cr to Sales Value (0.47 % of Total Sales)for the year ending 31-Mar-2016.