Manappuram Finance is one of India's most renowned non-banking financial corporations that deals with financial transactions involving gold loans and other fiscal assistance instruments.
RBI Lifts Ban on Asirvad
After incurring a cumulative decline in the total of the company shares at the National Stock Exchange (NSE) over the past five trading sessions, the stocks of the Kerala-based company closed on Friday in the green.
The company shares saw this surge after the Reserve Bank of India (RBI) lifted its ban on small microfinance institutions, which also included Manappuram's recently acquired subsidiary, Asirvad Microfinance.
This restriction was placed on Asirvad along with a tranche of three NBFCs, including, Arohan Financial Services, DMI Finance and Flipkart founder Sachin Bansal's Navi Finserv from disbursing loans in October.
This ban was imposed after the RBI found that these companies violated RBI norms.
Manappuram Shares Over The Past Week
In addition to the Chennai-based Asirvad, the Delhi-based DMI Finance was also allowed to conduct business.
When we take a closer look at the company shares over the past week or 5 trading sessions, the company shares value diminished by 3.01 per cent or Rs 5.60.
It, however, needs to be noted that the company shares have incurred bigger loses in the trading sessions over the past 6 months, which also includes the period of the ban on Asirvad in October. In 6 months, the company shares have cumulatively declined by a mammoth 19.64 per cent or Rs 44.03.
In the meantime, Muthoot shares grew by over 15 per cent in the pats 6 months.
Manappuram Shares on Friday
Coming to the performance on Friday, January 10, although the shares ended in green, the overall gains attained by Manappuram was limited.
On the last trading day of the week, after opening higher at Rs 2,137.90, higher than the previous day's closing, the company shares closed at Rs 180.20 per share, with gains of 0.67 per cent or Rs 1.20.
