Manba Finance Limited has experienced a remarkable surge in its share price since its listing on the stock market. On October 17, the stock hit a new all-time high of ₹168.77, an increase of nearly 14% from its previous closing price, defying a generally weak market environment. Over the past four days, shares have risen by 23.5%.
The company made its market debut on September 30, opening at ₹150, which was a 25% premium over its issue price of ₹120. This rise comes ahead of a board meeting scheduled for October 24, where the directors will discuss the unaudited financial results for the quarter and half-year ending September 30, 2024, as well as the potential declaration of its first interim dividend for FY2024-25.
Founded in 1998, Manba Finance specializes in offering financial solutions for a wide range of vehicles, including new and electric two- and three-wheelers, used cars, small business loans, and personal loans. The company primarily caters to employees and self-employed individuals, providing customized financing options that typically cover up to 85% of a vehicle’s on-road price, with customers responsible for the remaining amount.
Disclaimer: This report is for informational purposes only and should not be considered financial advice. The performance of Manba Finance shares, including any future price movements or dividend declarations, is subject to market risks and can fluctuate based on various factors. Investors are advised to conduct their research and consult with a qualified financial advisor before making any investment decisions. The author of this report does not assume any responsibility for any losses incurred from the use of this information.
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