Latest news with #ManappuramFinanceLtd
Mint
6 days ago
- Business
- Mint
F&O Strategy: Manappuram Finance to Biocon— Rupak De suggests buy or sell strategy for THESE stocks
Stock market today: The domestic benchmark indices, showed little movement at the open on Monday, following two consecutive days of losses, as ongoing conflict between Israel and Iran limited investor enthusiasm. The Nifty 50 rose by 0.06% to reach 24,732.35, while the BSE Sensex decreased by 0.1% to 81,034.45 at 9:15 IST. Both indexes reported weekly losses on Friday due to Israel's military actions against Iran intensifying tensions in the Middle East. Over the weekend, both nations conducted new attacks, resulting in civilian casualties and heightening fears of a wider regional conflict. Other Asian markets remained dull, as the MSCI Asia ex-Japan index slipped by 0.1%, while oil prices increased due to supply worries linked to the geopolitical unrest in the oil-rich Middle East region. The rise in oil prices poses challenges for commodity importers like India, as crude oil represents a substantial portion of the country's import expenses. On the F&O segment, Rupak De of LKP Securities, has suggested Manappuram Finance Ltd, Biocon Ltd, and Karur Vysya Bank Ltd. Nifty 50 witnessed a sharp decline, breaking below its 21-EMA, a crucial short-term moving average. However, it managed to find support near the recent consolidation zone, resulting in a strong intraday rebound. If the index holds above the 24,700 mark, the recovery may gather further momentum, potentially pushing it towards 25,000 in the near term. On the flip side, a sustained move below 24,700 could reignite bearish sentiment and increase downside pressure. Open Interest Analysis: Good additions were seen in the open interest at the 24,700 PUT; apart from that 24,600 and 24,500 strikes witnessed decent Put addition. While CALL writers added substantial positions at the 24,700 strikes on Friday. Maximum CALL open interest was seen at the 25,000 strike, whereas maximum PUT open interest was seen at 24,500, indicating a broader range for the market. Currently the CALL writers are outnumbering the PUT writers for current weekly expiry. Strategy: Strength increases if Nifty sustains above 24700 in the first hour. Trade: Buy Nifty 19 June 24800CE ABOVE 140 TGT 200 SL 100. The stock has formed a distorted Head and Shoulders pattern on the weekly chart, resulting in a sharp upward move. Recently, it has broken out of a consolidation phase, reinforcing the bullish sentiment. Given the evident demand, any pullbacks should be considered as buying opportunities in the near term. Key support lies at ₹ 259, and long positions may be initiated with a stop-loss at this level. On the upside, the stock holds potential to reach ₹ 320. Biocon has broken out of a consolidation pattern on the daily chart, suggesting renewed bullish momentum. The stock has also crossed above its 200-day moving average, indicating a possible medium-term trend reversal. The RSI has entered a bullish crossover and is trending upwards, further supporting the positive outlook. The technical setup remains robust, with a near-term target of ₹ 385. However, a breach below the support at ₹ 344 could weaken the bullish view. The stock has witnessed a flag pattern breakout on the weekly chart, highlighting a resurgence in buying interest. It continues to trade above its 200-day moving average, indicating a shift towards a bullish trend in the medium term. The daily RSI is in a bullish crossover and rising steadily, underlining positive momentum. The technical structure remains strong, with the stock expected to move towards ₹ 272 in the short term. Support is placed at ₹ 234; a decline below this level may negate the current bullish outlook. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Mint
6 days ago
- Business
- Mint
Top three stocks to buy today, 16 June, as recommended by Ankush Bajaj
Indian stock market benchmarks, the Sensex and the Nifty 50, suffered significant losses on Friday, tracking Asian peers such as Japan's Nikkei and South Korea's Kospi, as tensions between Israel and Iran spooked investors. The Sensex opened at 80,427.81 against its previous close of 81,691.98 and dropped over 1,300 points, or 1.6 per cent, to hit an intraday low of 80,354.59, while the Nifty started the day at 24,473 against its previous close of 24,888.20 and crashed 1.7 per cent to an intraday low of 24,473. Top three stocks recommended for today by Ankush Bajaj Also Read: Escalating Israel-Iran conflict to keep markets on boil in near term Buy: Manappuram Finance Ltd (Current Price: ₹279.54) Also read: The capital goods sector gets a power-up, its weight rises in Nifty Buy: Jubilant Ingrevia Ltd (Current Price: ₹793.55) Market Wrap On Friday, June 13, the Indian stock market opened with a sharp gap-down, reacting to weak global cues and broad risk-off sentiment. However, after the initial drop, the indices managed to recover some ground during the day, supported by selective buying in defensives and recovery in IT stocks. Despite the recovery attempt, the market closed in the red, continuing its short-term corrective phase. The Nifty 50 ended 169.60 points lower, down 0.68%, at 24,718.60, giving back gains from earlier sessions. The BSE Sensex also declined, falling 573.38 points or 0.70%, to finish at 81,118.60. The Bank Nifty remained under pressure, dropping 555.20 points or 0.99%, to close at 55,527.35. In sectoral performance, the realty Ssector ended marginally higher with a 0.06% gain, while healthcare Index also closed in the green, up 0.04%, offering some defensive support. On the losing side, the PSU Bank sector dropped 1.18%, the FMCG index declined 1.05%, and the Banking index ended down 0.99%, reflecting broad-based weakness. In stock-specific action, Bharat Electronics Ltd led the gainers with a 1.76% rise, followed by ONGC, up 1.46%, and Tech Mahindra, gaining 0.89%. Among the top losers were Adani Ports, which declined 2.82%, ITC, falling 1.69%, and SBI, also down 69%. Nifty Technical Analysis Nifty fell by 0.68 %, dropping 169.60 points to close at 24,718.60, as profit-taking emerged following last week's rally. The index still trades above key moving averages—the 20-day SMA at 24,832 and 40-day EMA at 24,510—indicating underlying technical strength. Even on intraday timeframes, Nifty remains firmly positioned, with the 20-hour SMA at 24,932 and the 40-hour EMA at 24,908 solidly in play. On the momentum front, both the daily RSI (55) and hourly RSI (34) point to a temporary lull in buying enthusiasm. Similarly, while the daily MACD (157) remains positive, its hourly counterpart is deeply negative at –92, suggesting a short‑term cooling-off phase. Structurally, although the earlier falling‑wedge breakout reached around 25,200, there were no fresh follow-throughs on intraday charts. The action appears range‑bound between 24,600–24,950 until new catalysts emerge. The derivatives landscape paints a cautious picture. Call OI stands at 12.14 crore, while Put OI is 8.82 crore, yielding a Put‑Call Ratio of around 0.71—slightly bullish but not overly aggressive. The options trend remains bearish, with a CE‑PE OI differential at –3.32 Cr. Notable Call concentrations are at strikes 25,000 and 26,000, with sizeable recent Call additions of 3.55 Cr. On the Put side, the largest OI and fresh additions are at 22,800, indicating confidence in support levels well below current prices. Volatility is creeping higher—India VIX is up 7.6 % to 15.08, reflecting rising caution amid global uncertainty. A tentative US–China 'framework" trade agreement arrived in London this week, easing rare‑earth export restrictions and maintaining a 90‑day tariff truce, supporting global sentiment, though analysts warn it lacks firm enforcement. Concurrently, Middle East tensions surged after an Israeli strike on Iran's nuclear site, lifting crude oil by 7–11 % and pressuring risk assets. This duality—dovish trade news versus geopolitical alarms—kept U.S. and European markets modest, with safe‑haven flows into gold and bonds offsetting equity gains. Emerging‑market currencies like the rupee softened beyond ₹86 per US dollar due to a crude‑driven import squeeze and investor caution. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
The Hindu
07-06-2025
- Business
- The Hindu
RBI's gold loan direction brings clarity, standardisation, greater consumer protection, says Manappuram Finance MD
'The 'Lending Against Gold and Silver Collateral Directions, 2025' notified by the Reserve Bank of India (RBI) on Friday has brought clarity, standardisation, and greater consumer protection to the gold and silver loan segment, said V. P. Nandakumar, Managing Director and CEO of Manappuram Finance Ltd. 'The guidelines on valuation, assaying, and loan-to-value (LTV) ratios are timely and progressive. In particular, the provision allowing a maximum LTV ratio of 85% for loans amount up to ₹2.5 lakh. It will significantly benefit small-ticket borrowers,' he said. Stating that the new directions have consolidated and replaced earlier circulars, he said these have create a uniform code applicable to all regulated entities, including NBFCs, banks, and cooperative institutions. 'These guidelines aim to promote transparency, ethical practices, and prudential discipline while enhancing financial access for individuals and micro-enterprises,' he said. Highlighting that the continued eligibility of gold jewellery, ornaments, and coins as collateral reflected the RBI's recognition of the critical role of gold loans in meeting short-term liquidity needs, he said the standardised assaying process—mandating borrower presence and use of reference prices from the Indian Bullion and Jewellers Association (IBJA) or SEBI-regulated exchanges—would foster uniformity across the industry. 'Manappuram Finance has long adhered to rigorous valuation norms, and we view this framework as an endorsement of our transparent and ethical lending model,' he emphasised. On the revised LTV guidelines, Mr Nandakumar said, 'The RBI has prudently capped LTVs at 85% for loans up to ₹2.5 lakh, 80% for loans between ₹2.5 and ₹5 lakh, and 75% for loans above ₹5 lakh. These thresholds strike a balance between borrower access and systemic stability. We are fully aligned with these stipulations and will implement them rigorously.' Regarding bullet repayment loans, he acknowledged the RBI's cap of 12 months for such loans, with renewals allowed only upon creditworthiness and interest repayment. On the customer conduct and protection norms, he said, 'The emphasis on clear documentation, borrower communication, and transparent auction procedures aligns with our customer-first approach. We already involve borrowers in the assaying process and provide detailed disclosures in loan agreements, and these practices will continue.' On collateral management, he said, 'We place the utmost importance on secure storage, stringent internal audits, and surprise verifications. The RBI's directives reinforce our long-standing commitment to safeguarding customer assets.' Welcoming the RBI's provisions for fair compensation in the event of loss, damage, or delayed return of pledged assets, and its emphasis on disbursing loans directly into verified bank accounts in compliance with KYC and Income Tax Act provisions, he said' These directions reflect the regulator's focus on integrity, accountability, and customer rights. 'We are fully prepared to implement the new guidelines well ahead of the April 2026 deadline. We believe this framework will further bolster public trust in gold loans as a reliable and responsible source of credit,' he stated.
Business Upturn
06-06-2025
- Business
- Business Upturn
Explained: What does the RBI decision of revising Gold Loan LTV to 85% from 75% means
In a key announcement during the RBI monetary policy press conference, Governor Sanjay Malhotra stated that the Loan-to-Value (LTV) ratio for gold loans up to ₹2.5 lakh per borrower will be revised to 85% from the existing 75%, including the interest component. Simply put, if you pledge gold worth ₹1 lakh, you can now borrow up to ₹85,000 instead of ₹75,000 earlier. This move is aimed at enhancing liquidity access for small borrowers, particularly in rural and semi-urban areas where gold loans are a common form of short-term credit. What is LTV and why does it matter? The Loan-to-Value ratio refers to the proportion of a loan that can be disbursed against the value of the collateral—in this case, gold. A higher LTV allows borrowers to access a larger amount of funds without needing to pledge more gold. This makes borrowing more accessible and efficient, especially in times of emergency or financial stress. With the LTV cap now raised to 85%, borrowers will have more flexibility and headroom to meet their credit needs without turning to informal lending sources. Why did RBI change the rule? RBI Governor Sanjay Malhotra clarified that the LTV revision is part of a broader push to standardize and streamline gold loan regulations, particularly for small-ticket loans. Key highlights from his remarks include: Final guidelines on gold loan regulations will be issued today or latest by Monday. The existing draft was not new , but a reiteration of past directions , aiming to resolve non-compliance by some lenders. Credit appraisal requirements will be removed for gold loans up to ₹2.5 lakh. End-use monitoring will only be required under Priority Sector Lending (PSL) norms. Market response: Gold loan financiers surge The announcement triggered sharp gains in shares of key gold loan NBFCs: Muthoot Finance Ltd. surged up to 8% Manappuram Finance Ltd. rose nearly 5% IIFL Finance Ltd. gained around 5% What does it mean for lenders? For gold loan financiers, the revised LTV expands their lending potential without needing new customers, as they can now lend more against the same value of gold. This is expected to grow their loan books, improve margins, and enhance customer retention. The removal of credit appraisal for small loans also reduces operational overhead and streamlines disbursal processes, leading to faster turnaround times and better service efficiency. In short, the regulatory easing is a win-win for both lenders and borrowers—borrowers get more credit access, and lenders unlock greater business potential within existing regulatory boundaries. In summary: The RBI's decision to raise the LTV ratio for small gold loans brings easier, quicker, and higher access to credit for borrowers, while opening up significant growth opportunities for gold loan lenders by enabling larger disbursements, reduced processing time, and expanded loan books. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
