CRISIL Upgrades Manappuram Finance Ratings

Friday, July 01, 2016
The rating agency CRISIL has upgraded its rating on the long-term bank facility and non-convertible debentures of Manappuram Finance Ltd to 'CRISIL AA-/Stable' from 'CRISIL A+/Stable', while reaffirming the rating on short-term debt at 'CRISIL A1+'.

This is attributed to the improvement in business risk profile, stable operating environment and also factors in the Company's strong earnings profile.

Shares of MANAPPURAM FINANCE LTD. was last trading in BSE at Rs.72 as compared to the previous close of Rs. 68.95. The total number of shares traded during the day was 1432258 in over 5876 trades.

The stock hit an intraday high of Rs. 72.6 and intraday low of 69.2. The net turnover during the day was Rs. 101510078.