Manappuram Finance gains nearly 3% on acquiring Milestone Home Finance

Posted By: Religare
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Shares of Manappuram Finance Ltd. jumped nearly 3 per cent in early trade on Bombay Stock Exchange (BSE) after it decided to enter the housing finance sector by acquiring Milestone Home Finance Company Private Ltd from Jaypee Hotels Ltd for an undisclosed sum. Buoyed by development, shares of company gained 2.27 per cent to trade at Rs 22.55 a piece on the BSE. In a similar fashion, shares of the company advanced 2.05 per cent to Rs 22.45 a piece on National Stock Exchange. Meanwhile, the broader benchmark Sensex was quoting at 21,913.52, up 52.94 points or 0.24 per cent at 10:15 hours.

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