Today Manappuram Finance Ltd (Rs.15.73), hit the upper freeze after the news of buoyancy in gold prices, were published in Economic Times. But, it is doubtful how long will this rally survive in the counter, after RBI put up lot of barriers in the business of Gold Loan Companies. Besides, even if the RBI does not go for a Repo rate hike, still it will not be positive for the Banks and NBFC sector--the move can at best be said sector-neutral. Therefore, take your decisions accordingly. However, if anyone is betting for the long term then this is an idea scrip. Having said, this I would like to point out that then you need to define your long term, because there are scrips, listed in the BSE, which are near their all time lows evem today, after the historic crash of 2008.
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