Remain invested in Manappuram Finance, target Rs 130: Avinnash Gorakssakar

Avinnash Gorakssakar, Market Expert told CNBC-TV18, "On a fundamental basis, I believe that gold financing companies would definitely do well in the coming year. In terms of their asset quality and earlier problems, most of them have been sorted out. If the investor can hold on to Manappuram Finance at least for the next 12 months, definitely a decent risk reward ratio would come in."

He further added, "I would be comfortable with a target price of around Rs 130. That looks very much reasonable considering the kind of growth trajectory the gold finance business should grow in the coming year."