Manba Finance shares hit a fresh all-time high on October 17 amid a weak broader market trend. The company in a recent exchange filing had announced to declare an interim dividend to its shareholders in the upcoming board meeting, scheduled to be held next week.
A meeting of the board of directors of the company will be held on Thursday, 24 October to "consider and approve the unaudited standalone financial results of the Company for the quarter and half year ended 30 September 2024 and Declaration and payment of 1st Interim Dividend of FY2024-25, if any," it said in an exchange filing.
Shares of newly listed Non-Banking Financial Company (NBFC) hit a fresh 52-week and an all-time high of Rs 168.77 per share on the NSE, rising nearly 14 percent from its previous close.
The sharp up-move in the stock defied the prevailing weak market sentiment in the broader market on Thursday. Manba Finance stock has been gaining for the last four days and has risen 23.5 percent in the period.
Shares of Manba Finance Limited debuted on September 30 after listing at Rs 150, commanding a premium of 25 percent over the issue price of Rs 120 on the BSE.
Founded in 1998, it provides financial solutions for new two-wheelers, three-wheelers, electric two- and three-wheelers, used cars, small business loans, and personal loans. The company primarily serves employees and self-employed individuals, offering customized financing programs. It typically finances up to 85 percent of a vehicle's on-road price, with customers contributing the remainder.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
