Finance · MGFL
Finance & Investments - Gold Loan
from 360 today
Manappuram Finance delivered a strong quarter with healthy gold loan growth, NIM expansion, and a 340% YoY rise in consolidated PAT in 1QFY27. We reiterate our Neutral rating on the stock with a target price of INR390, based on 1.8x FY28E consolidated BVPS.
Manappuram's core gold franchise is entering a stronger growth phase with improving customer traction, pricing discipline, and branch expansion plans providing visibility on sustained loan growth. We maintain our BUY recommendation on the stock.
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