Stock To Buy: NBFC Co Declares 46% Rise In Net, Dividend; TP Rs 245: Axis Securities

Brokerage firm Axis Securities has recommended investors NBFC Company Manappuram Finance Ltd shares to buy with target price of Rs 245 apiece. Current market price of Manappuram Finance shares on BSE is quoted at Rs 183.45 apiece with intraday gain of 0.41%. Manappuram Finance shares offered shareholders return of 60% in last 1-year and 32% in last 3-months.

Manappuram Finance recommended an interim dividend of Re 0.90 per share and its record date is February 19, 2024. Check details below:

Manappuram Finance Shares Performance & Return: The 52-week high price of Manappuram Finance shares on BSE is Rs 193.35 apiece and 52-week low price is Rs 101.15 apiece, respectively. The company has a market capitalisation of Rs 15,527.85 crore. Manappuram Finance shares gained 29% in last 6-months, surged 16% in last 2-years, and gave return of 6% in last 3-years. In last 10-years, Manappuram Finance stock soared 773%.

Manappuram Finance Declares Dividend: The company will also reward shareholders with payment of interim dividend. It declared an interim dividend of Re 0.90 per equity share with face value of Rs 2.3. The record date for deciding the eligibility of interim dividend has been fixed as February 19, 2024. Shareholders will become eligible to receive the dividend as of this date. The NBFC company seeks to disburse the dividend warrants on or before March 7, 2024.

Manappuram Finance Q3 Results: The leading company announced its financial results on February 7, 2024 for third quarter of financial year 2023-24. It announced its net profit at Rs 575.3 crore, up 46.2% as against Rs 393.5 crore in the corresponding quarter of last year. Meanwhile, the net interest income for Q3 surged 33% to Rs 1,452 crore as against Rs 1092 crore in the similar quarter of last year.

Disclaimer: The stock has been picked from the brokerage report of Axis Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.