MANAPPURAM FINANCE ED
Analysts bet on DCB Bank, Manappuram Finance & Global Health
ET looks at some of the stock recommendations by analysts of late. These stocks are expected to return between 16% and 23% as per analysts’ price targets.
2 top stock recommendations from Aditya Arora
Hence, they have to stop somewhere and pause the rates, rate hiking cycle and somewhere also cut the rates because China is already cutting rates right now.
Stocks in news: DMart, Adani Enterprises, DLF, Tata Motors, PVR
Adani Enterprises and Adani Transmission today announced that they would raise funds totalling Rs 21,000 crore through the qualified institutional placement (QIP) route.
ED's searches at corporates may tarnish business prospects, constrict funding access: Fitch
Fitch Ratings said that Indian law-enforcement agencies' investigations could potentially damage a corporate's business reputation and constrict funding access, particularly when there is reduced market confidence, despite no wrongdoing being identified. This warning comes after the recent searches by the Enforcement Directorate at Manappuram Finance.
'ED's visit' nothing to do with Manappuram Finance, says its managing director
Kerala-based NBFC Manappuram Finance Ltd, whose assets worth Rs 143 crore were frozen by the Enforcement Directorate recently, has claimed that the "visit" of the agency was based on a "malafide FIR" pertaining to now defunct Manappuram Agro Farms. The ED had on May 4 said that it had frozen assets worth Rs 143 crore of Manappuram Finance Ltd's MD and CEO V P Nandakumar after it conducted raids as part of a money laundering investigation.
Bloodbath on D-Street! Sensex nosedives 695 points on selloff in HDFC twins
Indian equity indices closed in the red on Friday due to weak global cues and a selloff in HDFC twins. All listed companies on BSE witnessed a decline of Rs 1.43 lakh crore to Rs 273.77 lakh crore in market capitalisation.
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Manappuram Finance shares tumble over 14% after ED freezes promoter assets
VP Nandakumar, the promoter of Indian NBFC Manappuram Finance, has had his personal assets frozen after Enforcement Directorate (ED) raids as part of a money-laundering investigation. Shares in Manappuram fell almost 14%, driven by the asset freeze, including 19,29,01,996 equity shares in the company held by Nandakumar himself. He said the concerns had to do with a previous firm, Manappuram Agro Farms, which no longer exists.
Manappuram Finance clarifies, says ED action against promoter, not company
Kerala-based non-bank lender Manappuram Finance Ltd, in a stock exchange filing on Friday clarified that the Enforcement Directorate's action against its promoter VP Nandakumar is not linked to the affairs of the listed entity. Manappuram's promoter, V.P. Nandakumar, said in the notification that the probe was not related to the company but a private entity called Manappuram Agro Farms, which is no longer in existence.
ED freezes Rs 143-crore assets of Manappuram Finance MD & CEO in money laundering case
The case pertains to allegations of money laundering through "illegal" collection of deposits from the public, the agency said in a statement.
ED investigation on illegal deposits is linked to erstwhile Manappuram Agro Farms, Manappuram Finance says
ED, the central investigation body, on Wednesday conducted searches at multiple premises linked to the non-banking finance company in Kerala in connection with a money laundering investigation. Manappuram Finance is co-operating with ED's investigation team by providing the required details sought by them, it said, adding the NBFC will be able to provide more information on completion of the search.
ED conducts raids at Manappuram Finance premises in Kerala on money laundering charges
The officials stated the raids are being undertaken to gather evidences related to allegations of collecting public deposits worth over Rs 150 crore by the company in contravention of Reserve Bank of India (RBI) guidelines, reported PTI.
Manappuram Finance tanks 12% on reports of ED searches at multiple premises
The shares of Manappuram Finance plunged by almost 12% as the Enforcement Directorate (ED) conducted searches at several premises of the non-banking finance company in Kerala. The ED is investigating the company for alleged money laundering and contravention of Reserve Bank of India guidelines regarding the collection of public deposits worth over INR 150 crore. The agency is gathering evidence, including statements from executives and documents, pointing to "large-scale" cash transactions. Manappuram Finance's stock price has remained almost stagnant over the past year and declined by approximately 10% this month, although it had recovered from mid-June's low of INR 80 to hover around the INR 90 range.
6 domestic focused mid and small cap stocks with up to 35% upside potential
These stocks derive most of their revenues from domestic markets and are expected to perform well.
Should long-term investors invest in BFSI stocks trading at low valuations?
Despite the stock market recovering from the lows of March 2020, some sectors like financial services are still down. Stocks of the BFSI sector is trading at low valuations now. Should investors rush in to buy because these stocks are going cheap? No, say experts.
Stocks in the news: Vodafone Idea, Tata Steel, Maruti, SBI and Future Consumer
The British government has planned to rope in investment bankers to come up with a rescue plan for Tata Steel's UK operations.
HDFC MF exits Bandhan Bank, Info Edge; bets on PSU lenders
The fund house bought over 1 crore shares in power-focused PSU firms.
Midcaps with high FII holding to see correction ahead of US Federal policy: Analysts
Analysts see correction ahead as these stocks look extremely vulnerable to sharp sell-offs if Fed raises interest rates.
Expect gold prices to be at current levels this quarter: I Unnikrishnan, Manappuram Finance
'Manappuram normally does not have a view on gold prices, but in terms of asset quality, it is definitely looking up.'
Muthoot, Manappuram Finance rally as RBI drafts rules for small banks
In a move to expand the banking industry to India’s interiors, the Reserve Bank has drafted rules for setting up small and payments banks.
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