Manappuram Finance Achieves 52-Week High Amid Broader Market Decline

Manappuram Finance, a prominent player in the Non-Banking Financial Company (NBFC) sector, has made headlines today as its stock price reached a new 52-week high of Rs. 275. This milestone reflects a significant upward trend, with the stock outperforming its sector by 1.2%. Over the past six days, Manappuram Finance has shown remarkable resilience, accumulating a total return of 16.85%.
The stock's performance is further underscored by its position relative to key moving averages, as it is currently trading above the 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. This trend indicates a strong bullish sentiment among market participants.

In the broader market context, the Sensex is experiencing a slight decline, trading at 82,387.50, down 0.15% after a flat opening. Despite this, the Sensex remains close to its own 52-week high, just 4.36% away. Notably, Manappuram Finance has delivered an impressive 47.33% return over the past year, significantly outpacing the Sensex's 7.54% performance during the same period. The stock's 52-week low stands at Rs. 138.4, highlighting its substantial recovery and growth trajectory.