Manappuram Finance surges 14% after huge block deals

Till 02:46 pm; a combined 76 million shares of Manappuram changed hands on NSE and BSE.

Manappuram Finance has moved higher by 14% to Rs 96.75 on BSE, after a more 5% of total equity of the company changed hands via multiple block deals.

Till 02:46 pm; a combined 76.12 million shares representing 9% of total equity capital of Manappuram Finance have changed hands on NSE and BSE.

The name of buyers and sellers were not ascertained immediately.

On August 14, Manappuram Finance announced that the rating agency CARE Ratings upgraded the long-term credit rating of the company to CARE AA (double A) stable from CARE AA- (double A minus) stable. The revised