Shares of Manappuram rose as much as 6.9% during the day on the NSE to Rs 160.9 apiece, the highest since Nov. 16. It was trading 5.08% higher at Rs 159.20 apiece, compared to a 0.64% advance in the benchmark Nifty 50 as of 11.30 a.m.
It has risen 40.47% on a year-to-date basis. The total traded volume so far in the day stood at 3.8 times its 30-day average. The relative strength index was at 64.68.
Fifteen out of the 19 analysts tracking Manappuram maintain a ‘buy’ rating on the stock, one recommends a ‘hold’ and three suggest a ‘sell,’ according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 9.3%.
