External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Equity Bottom-Up

<p>We remain positive on the stock and maintain BUY with a target price of Rs 190 (1.4x FY23E ABV), implying an upside of 19% from CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We remain positive on the stock and maintain BUY with a target price of Rs 190 (1.4x FY23E ABV), implying an upside of 19% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Manappuram Finance Ltd. is a non-banking finance company. The Company offers loans against gold collateral, business loans, vehicle loans, foreign exchange and money transfer services; and sells gold coins.

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Manappuram Finance (MGFL IN)

Result Update:Manappuram Fin.

We remain positive on the stock and maintain BUY with a target price of Rs 190 (1.4x FY23E ABV), implying an upside of 19% from CMP.

Axis Direct

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