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Buy Manappuram Finance, price target Rs 185: CK Narayan

CK Narayan of Chart Advise has a buy call on Manappuram Finance Ltd. with a target price of Rs 185. The current price of Manappuram Finance Ltd. is Rs 179.4. CK Narayan recommended to keep a stop loss at Rs 175.

Manappuram Finance Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 15095.33 Crore) operating in NBFC sector.

Manappuram Finance Ltd. key Products/Revenue Segments include Interest which contributed Rs 3370.28 Crore to Sales Value (98.59 % of Total Sales), Fees & Commission Income which contributed Rs 45.86 Crore to Sales Value (1.34 % of Total Sales) and Other Operating Revenue which contributed Rs 2.06 Crore to Sales Value (0.06 % of Total Sales) for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 1286.79 Crore, up 9.59 % from last quarter sales of Rs 1174.19 Crore and up 26.85 % from last year same quarter sales of Rs 1014.44 Crore. Company has reported net profit after tax of Rs 407.65 Crore in latest quarter.

Source: Economic Times