Thursday, August 22, 2013

Market Mantra
Today's Call: Buy Manappuram Finance Ltd at Rs.14.80--15, T--Rs.21, SL--Rs.13. Since the gold prices are moving up, it is a given that, the value of their mortgages will increase. Moreover, their Q1FY14, results were good considering sequentially. Going forward the company is expected to do well, as higher value of Gold is expected to give them greater spread over loan and will also make recovery of bad loans less risky. CLICK HERE & CLICK HERE.