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Friday, November 23, 2012
Manappuram Finance Ltd: Strong Buy
Manappuram Finance Ltd is India's first listed and highest credit rated gold loan company. It has one of the hassle free business models as it give loans against the Gold. I had strongly suggested the Paid Group to accumulate the scrip in all declines, a couple of days back, after which the scrip has been moving up on a regular basis. The chart of the scrip is also looking explosive. Moreover, introduction of Banking Laws (Amendment) Bill, 2011, could have some positive rub off effect on the scrips of all NBFCs. The scrip should now steadily move up for a target of Rs.41.