Mar 13, 2014 at 19:14 | Source: PTI
According to the company's executive director & deputy CEO I Unnikrishnan, the home loan market is worth Rs 8,20,000 crore and is growing at a CAGR of 19 percent. With the company's huge customer base of 1.5 million, Manappuram believes that it can play a crucial role in this field.
Mar 13, 2014 at 11:10 | Source: Moneycontrol.com
Manappuram Finance has signed definitive agreement to acquire Milestone Home Finance Company Private Ltd from Jaypee Hotels, subject to relevant regulatory approval.
Mar 13, 2014 at 10:40 | Source: Moneycontrol.com
Manappuram Finance at its meeting held on March 11, 2014 and extended to March 12, decided to acquire one Housing Finance Company named M/s Milestone Home Finance Company Private Limited as a 100% subsidiary of the Company and to execute the Share Purchase agreement with the Shareholders of M/s Milestone Home Finance Company Private Limited.
Mar 13, 2014 at 10:21 | Source: Moneycontrol.com
Explaining rationale behind the purchase, VP Nandakumar, MD and CEO of Manappuram General Finance said in an interview to CNBC-TV18, "It is a shell company. It has not yet started the business. It has got approval from National Housing Bank (NHB) and are holding that without doing business and so we thought we will take it over and do business."
Mar 10, 2014 at 15:40 | Source: CNBC-TV18
According to Phani Sekhar of Angel Broking, one may prefer South Indian Bank and City Union Bank instead of Manappuram Finance.
Mar 10, 2014 at 15:32 | Source: CNBC-TV18
Kunal Bothra of LKP is not bullish on Manappuram Finance. "One may prefer Larsen and Toubro and IDFC," he adds.
Mar 10, 2014 at 15:14 | Source: CNBC-TV18
Sudarshan Sukhani of s2analytics.com recommends buying Manappuram Finance as the stock may test Rs 28-30.
Mar 10, 2014 at 13:42 | Source: Moneycontrol.com
Manappuram Finance has clarified with reference to the news item appearing in a financial daily titled, Manappuram plans housing finance co buy.
Mar 10, 2014 at 11:07 | Source: Moneycontrol.com
"Notified that Foreign Institutional Investors (FIIs), through primary market and stock exchanges, can now purchase up to 49 percent of the paid up capital of Manappuram Finance Limited under the Portfolio Investment Scheme (PIS)," RBI said in a notification.
Mar 07, 2014 at 22:08 | Source: PTI
The RBI decision comes after Manappuram Board passed a resolution to enhance the limit for purchase of its equity shares and convertible debentures by FIIs. FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through Portfolio Investment Scheme (PIS).