Manappuram Finance gained 3.15% to Rs 24.55 at 10:18 IST on BSE, with the stock extending Tuesday's 12% rally triggered by a ratings firm revising its rating outlook on ratings of the long-term debt instruments and bank facilities of the company.
Meanwhile, the S&P BSE Sensex was up 120 points or 0.59% at 20,483.37
On BSE, so far 5.96 lakh shares were traded in the counter as against average daily volume of 6.13 lakh shares in the past one quarter.
The stock hit a high of Rs 25.65 and a low of Rs 24.10 so far during the day. The stock had hit a 52-week low of Rs 9.85 on 16 July 2013. The stock had hit a 52-week high of Rs 38.55 on 11 February 2013.
The stock had outperformed the market over the past one month till 11 February 2014, rising 13.33% compared with the Sensex's 1.9% fall. The scrip had also outperformed the market in past one quarter, jumping 38.78% as against Sensex's 0.62% fall.
The small-cap company has equity capital of Rs 168.24 crore. Face value per share is Rs 2.
Manappuram Finance gained 15.52% in two trading days from Rs 21.25 on 10 February 2014. The gains were triggered by ratings agency CRISIL revising its rating outlook on ratings of the long-term debt instruments and bank facilities of the company from 'Negative' to 'Stable' on 5 February 2014. The announcement was made after market hours on Monday, 10 February 2014. The stock had surged 12% to Rs 23.80 on Monday, 10 February 2014.
Manappuram Finance's net profit fell 15.8% to Rs 71.06 crore on 10.4% decline in total income to Rs 535.06 crore in Q3 December 2013 over Q3 December 2012.
Manappuram Finance is a leading national player in its core activity of gold loans.
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