Shares of Manappuram Finance surged 10% to ₹239.25, hitting the upper circuit in early trade following a significant stake acquisition deal with Bain Capital.
Key Developments:
- Bain Capital, a leading global private equity firm, has agreed to acquire a substantial stake in Manappuram Finance.
- The deal has boosted investor confidence, leading to heavy buying interest in the stock.
- Manappuram Finance opened at ₹226, touched a low of ₹219.73, and hit its 52-week high at ₹239.25 today.
- The stock saw a massive trading volume of over 9.6 crore shares, indicating strong participation from institutional investors.
Brokerage Views:
- Several brokerage firms have maintained their bullish stance on Manappuram Finance following the deal.
- The investment by Bain Capital is expected to enhance the company’s growth prospects, strengthen its capital position, and improve business scalability.
Market Outlook:
With the stock hitting its upper circuit and touching its 52-week high, analysts believe that further upside potential remains, given the positive market sentiment and long-term strategic benefits from the deal.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to conduct their own research before making investment decisions.
