Manappuram Finance may settle around Rs 40, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "Manappuram Finance should stabilize at about Rs 40 because the kind of beating we have seen in the stock I don't think that the further downside is really seen from hereon. Since it is frozen today at a lower circuit probably maybe a fall of additional 5%, because the management has given an explanation that they have not been accepting the public deposits. Only thing they have been mobilizing their funds are more by way of issue of bonds and all sort of things. So probably it should take a support at about Rs 40."
The company's trailing 12-month (TTM) EPS was at Rs 3.39 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 13.42. The latest book value of the company is Rs 2.31 per share. At current value, the price-to-book value of the company was 19.7. The dividend yield of the company was 1.32%.
