Manappuram Finance gains on signing MoU with Autolite India

Mumbai : Manappuram Finance is currently trading at Rs. 119.70, up by 0.55 points or 0.46% from its previous closing of Rs. 119.15 on the BSE. The scrip opened at Rs. 119.45 and has touched a high and low of Rs. 120.70 and Rs. 118.85 respectively. So far 60279 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 130.45 on 09-May-2018 and a 52 week low of Rs. 66.40 on 08-Oct-2018.

Last one week high and low of the scrip stood at Rs. 128.60 and Rs. 118.30 respectively. The current market cap of the company is Rs. 10130.57 crore.

The promoters holding in the company stood at 35.14%, while Institutions and Non-Institutions held 45.16% and 19.70% respectively.

Manappuram Finance has signed a Memorandum of Understanding (MoU) with Autolite (India) (AIL) for a consumer and dealer financing agreement for electric vehicles.
Under the MoU, Manappuram Finance will gradually involve their network of over 3000 branches across India to provide end to end financing solutions to Autopal branded Electric Vehicle consumers. AIL has over 75 dealers in various parts of the country.

Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.

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