Jan 05, 2013, 12.27 PM IST

Manappuram up 6.5%; Hudson Eq sells shares worth Rs 78 cr

Gold loan financing company Manappuram Finance rallied for the second consecutive session, rising 6.5 percent to close at Rs 43.20 on Friday after the Rao panel's proposal.

Source: Moneycontrol.com

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Gold loan financing company Manappuram Finance rallied for the second consecutive session, rising 6.5 percent to close at Rs 43.20 on Friday after the Rao panel's proposal that gold loan firms be allowed to lend 75 percent against the value of gold pledged, against 60 percent as is the norm now announced on Wednesday.

MS GMO Emerging Domestic Opportunities Fund has bought 56.63 lakh shares of the company at Rs 43 via bulk deal on the Bombay Stock Exchange yesterday that valued at Rs 24.35 crore. Meanwhile, Hudson Equity Holdings offloaded 1.8 crore shares at Rs 43.20 that valued worth Rs 77.76 crore.

The stock touched an intraday high of Rs 46 and low of Rs 42.20. There were pending buy orders of 4,189 shares, with no sellers available.

Trading volumes jumped 336 percent to 30,364,360 equity shares as compared to its five day average of 6,960,705 shares. On Thursday, the share had closed up 19.97% or Rs 6.75 at Rs 40.55.

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