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Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
HDFC Securities recommends buy on Manappuram Finance
HDFC Securities has recommended buy on Manappuram Finance for target price of Rs 113. It says regulatory changes in the gold loan segment between fiscal 2012 and 2014 (such as withdrawal of priority sector benefit for gold loans, capping loan-to-value (LTV) ratio at 75%, restricting privately placed debentures, and stipulating stringent norms for conducting gold auctions) have brought in the much needed stability, while enhancing confidence of lenders and other stakeholders.