Manappuram Finance hits lowest level since March 2020; slips 25% in 1 month

Despite the management's optimism on demand outlook, there are challenges considering the signs of rural slowdown as evident from recent corporate results in many sectors

Shares of Manappuram Finance hit an over two-year low of Rs 89.10, down 4.5 per cent on the BSE in Tuesday's intra-day trade, as investors hammered the stock over growth concerns. Trading volumes on the counter jumped 1.5 times with a combined 9.52 million equity shares changing hands on the NSE and BSE till 02:25 pm. In comparison, the S&P BSE Sensex was down 0.63 per cent at 53,948 level.

The stock of the non banking financial company (NBFC), engaged in gold loan business was trading at its lowest level since March 2020. In the past one month, it