Mar 17, 2017 03:39 PM IST | Source: CNBC-TV18

Hold Manappuram Finance, may test Rs 125-130: Avinash Gorakshakar

Avinash Gorakshakar, Market Expert is of the view that one may hold Manappuram Finance.

Avinash Gorakshakar, Market Expert told CNBC-TV18, "From a business perspective, Manappuram Finance has been doing pretty well. In fact the third quarter numbers were pretty robust and our sense is that now, most of the effects of demonetisation have actually taken out from the system and I would believe that FY18 would be a much stronger year for the company."

"I would believe that if the investor can hold on for the next 6-12 months, a price target of Rs 125-130 looks very much possible and the kind of growth momentum have seen in the gold business, especially even comparable competitors like Muthoot Finance, I would not be surprised that the fourth quarter should be equally good and FY18 should also be quite good. So overall prospects look quite attractive and from a risk reward, one should hold on," he added.
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