Shares of Manappuram Finance surged 10% to hit the upper circuit at ₹239.25 in early trade on Monday, marking their second straight session of strong gains. The rally comes after global private equity giant Bain Capital announced a significant stake acquisition in the company, sparking heavy investor interest and boosting sentiment.
The stock opened at ₹226 and touched an intraday low of ₹219.73 before soaring to a new 52-week high. Trading volumes were robust, with over 9.6 crore shares changing hands, suggesting strong institutional participation. In a further boost to sentiment, the stock has now exited the F&O ban list, adding to the momentum.
Brokerage firms remain positive, with Morgan Stanley raising its target price on Manappuram Finance to ₹220 from ₹180 while maintaining an ‘Equal-weight’ rating. The brokerage highlighted the market’s enthusiasm over the Bain Capital deal but maintained a cautious outlook until further clarity emerges on the strategic direction and management roadmap.
Morgan Stanley has retained its FY25–27 earnings estimates, noting that the full impact of the deal will unfold over time. Meanwhile, analysts believe the stock could witness more upside, driven by the company’s improved capital position and long-term growth potential post the Bain Capital entry.
