Manappuram Finance Soars as Morgan Stanley Hikes Target Price on Bain Capital Deal
Manappuram Finance shares continue to rise for the eighth consecutive day following Morgan Stanley's increased target price from Rs 180 to Rs 220. The revision comes after Bain Capital's proposal to become a promoter of the NBFC. The stock rose 4.10% to Rs 243.75, with Morgan Stanley's new target factoring in a 14% discount on Bain Capital's open offer price of Rs 236.

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Shares of Manappuram Finance Ltd continued their upward trajectory, marking the eighth consecutive day of gains, as global investment bank Morgan Stanley raised its target price for the company following Bain Capital's proposal to become a promoter.
Morgan Stanley's Bullish Outlook
Morgan Stanley has significantly increased its target price for Manappuram Finance from Rs 180.00 to Rs 220.00. This upward revision comes in the wake of Bain Capital's recent proposal to become a promoter of the non-banking financial company (NBFC).
Stock Performance
The positive sentiment surrounding the potential deal and the revised target price has fueled investor enthusiasm. Manappuram Finance's stock rose by 4.10% to reach Rs 243.75, extending its winning streak to the eighth consecutive trading session.
Bain Capital's Open Offer
The revised base price target by Morgan Stanley factors in a 14% discount on the open offer price of Rs 236.00 proposed by Bain Capital. This strategic move by the private equity giant has sparked interest in Manappuram Finance, potentially signaling a new chapter for the company's growth and governance.
Market Implications
The surge in Manappuram Finance's stock price and the increased target price from a major investment bank like Morgan Stanley underscore the market's positive reception to Bain Capital's potential entry as a promoter. This development could have far-reaching implications for the company's future strategic direction and financial performance.
As investors continue to monitor the situation closely, the proposed deal between Manappuram Finance and Bain Capital remains a focal point in the NBFC sector, potentially setting the stage for further consolidation and foreign investment in India's financial services industry.
Historical Stock Returns for Manappuram Finance
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
+1.05% | +1.45% | +9.35% | +29.26% | +21.31% | +112.33% |