October 18, 2024 | 11:23 AM IST | By Sandeep Bishnoi
Manba Finance Limited, a recently listed non-banking financial company (NBFC), saw its shares soar to a new all-time high on October 17, even as the broader market struggled. This sharp rise comes just before the company is set to announce its earnings for the September quarter.
Manba Finance shares, which debuted on September 30 at Rs 150—25% higher than the issue price of Rs 120—have continued their upward momentum. On October 17, the stock touched Rs 168.77 on the NSE, marking a 14% jump from the previous day’s close.
The company has been gaining investor confidence despite a weak overall market, with its stock rising 23.5% over the past four days. This comes as Manba Finance prepares to hold a board meeting on October 24, where it will consider its unaudited financial results for the quarter and half-year ending September 30, 2024, and potentially announce its first interim dividend for FY2024-25.
Founded in 1998, Manba Finance provides financing solutions for new and used vehicles, including two-wheelers, three-wheelers, and electric vehicles. It also offers small business and personal loans, catering to both salaried individuals and self-employed professionals. The company typically finances up to 85% of a vehicle’s on-road price, with the remainder covered by customers.
This steady rise in the stock, coupled with the upcoming dividend announcement, reflects growing confidence in the company’s future prospects, making it a key stock to watch in the financial sector.
