Manappuram Finance shares hit a new all-time high at ₹323.80, rising approximately 3% on Wednesday's intraday trade amid heavy volumes in an otherwise subdued market. According to latest reports from Angel One, the stock crossed its previous record of ₹320.95 set on January 1, 2026, with the stock trading at ₹318.60 as of 1:39 PM on May 20, 2026, up ₹3.30 or 1.05% for the day. The stock opened at ₹313.00 and touched an intraday high of ₹323.80 with a low of ₹311.40. A combined 3.73 million equity shares changed hands across exchanges during the trading session, showing strong investor interest.
As reported by Angel One, Manappuram Finance has surged nearly 20% in the past month, significantly outperforming the BSE Sensex which declined about 4.4% in the same period. This substantial outperformance demonstrates the company's strong fundamentals and investor confidence in its business model. The stock's ability to maintain momentum despite broader market weakness indicates robust underlying demand for gold finance services, with the company's market capitalisation standing at ₹29.93K crore and a P/E ratio of 27.21. The stock offers a dividend yield of 0.63% with a quarterly dividend of ₹0.50.
According to Business Standard, Axis Securities has revised its rating from 'Hold' to 'Buy' with a target price of ₹340 per share, up from the earlier ₹295 per share. The brokerage firm expects Manappuram to deliver RoA of 2.8-3% over FY27-28. ICICI Securities maintains an 'Add' rating with a target price of ₹335 per share. Analysts at both firms cite improving earnings visibility, sustained strength of the gold loan franchise, and early signs of stabilisation across non-gold portfolios as key drivers for the positive outlook.
As reported by Angel One, gold loans now form the dominant share of the loan book, positioning the company well for healthy gold asset under management (AUM) growth. The company is planning 500-550 new branches in high-growth markets as part of its expansion strategy. Management's calibrated approach towards non-gold segments while prioritising asset quality is beginning to yield results, with analysts expecting gradual growth pickup in these segments. NIM pressures appear to have largely played out, with margins expected to settle at current levels. The company operates as a Systemically Important Non-Deposit Taking NBFC (NBFC-ND) and is India's second-largest gold finance NBFC, mainly providing loans against used household gold jewellery along with housing finance, loans against property and commercial vehicle financing.
