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Manappuram Finance spurts after SBI MF buys stake

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Capital Market

Manappuram Finance rose 4.11% to Rs 110.30 after SBI Mutual Fund acquired 0.57% stake in the non-banking financial company.

On Friday (3 March 2023), SBI Mutual Fund acquired 48 lakh equity shares, 0.57% equity, in Manappuram Finance through a bulk deal on the NSE at an average price of Rs 106.59 per share.

Manappuram Finance is one of India's leading gold loan NBFCs. The NBFC's consolidated net profit soared 50.3% to Rs 392.17 crore on 15.1% rise in total income to Rs 1,734.52 crore in Q3 FY23 over Q3 FY22.

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First Published: Mar 06 2023 | 2:53 PM IST

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