{"id":102461,"date":"2023-05-05T13:53:00","date_gmt":"2023-05-05T08:23:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=102461"},"modified":"2023-05-05T14:17:41","modified_gmt":"2023-05-05T08:47:41","slug":"nbfc-stock-falls-13-after-ed-freezes-assets-worth-over-rs-140-crores-check-the-details","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/nbfc-stock-falls-13-after-ed-freezes-assets-worth-over-rs-140-crores-check-the-details\/","title":{"rendered":"NBFC stock falls 13% after ED freezes assets worth over Rs 140 crores; Check the details"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3793028113\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>With a market capitalization of Rs 8,781 crores, Manappuram Finance Limited\u2019s shares tanked around 13 percent today and currently trade at Rs 103.40. In the last 5 trading sessions, the stock has lost about 19 percent of the stakeholder\u2019s wealth.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-946147197\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Such stock movements are observed after a recent development took place pertaining to search operations by the Enforcement Directorate (ED).&nbsp;<\/p><p>According to news reports, ED froze assets of the MD and CEO, Mr. VP Nandakumar which is roughly worth Rs 143 crores in a money laundering case. The ED mentioned that the proceeds from the above were put off to other sources by the CEO including immovable properties in his own, spouse\u2019s &amp; children\u2019s name, and into the shares of the company.&nbsp;<\/p><p>Manappuram Finance Limited, NBFC based in India, is engaged in the business of providing microfinance, gold loans, commercial vehicle loans, and housing loans. Its product portfolio includes money transfers, SME loans, foreign exchange, etc.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-4224079089\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company manages its business operations through various segments, one of which is the \u2018Microfinance Gold loan\u2019. Maximum revenue for the company is generated from Gold loans and other segments.&nbsp;<\/p><p>Having a quick glance at the financials of the company, the revenues stood at Rs 1,696 crores during Q2 v\/s Rs 1,714 crores in Q3. On a contrasting note, the net profit numbers took a shift from Rs 410 crores to Rs 394 crores during the same period.&nbsp;<\/p><p>Coming onto the profitability metrics, the basic ones such as the return on equity (ROE) as well as the return on capital employed (ROCE) with the former moving down from 26.58 percent during FY20-21 to 16.98 percent in FY21-22 and the latter decreasing from 15.55 percent to 12.14 percent keeping the timeframe the same.&nbsp;<\/p><p>According to the latest shareholding data available for the March quarter, promoters of the company hold a 35.2 percent stake, and Foreign Institutional Investors (FIIs) hold a 30.17 percent stake in the company.&nbsp;<\/p><p><strong>Written by Amit Madnani<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2198445783\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>With a market capitalization of Rs 8,781 crores, Manappuram Finance Limited\u2019s shares tanked around 13 percent today and currently trade at Rs 103.40. In the last 5 trading sessions, the stock has lost about 19 percent of the stakeholder\u2019s wealth.&nbsp; Such stock movements are observed after a recent development took place pertaining to search operations [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":81130,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-102461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NBFC stock falls 13% after ED freezes assets worth over Rs 140 crores; Check the details - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"With a market capitalization of Rs 8,781 crores, the company shares tanked around 13 percent today and currently trade at Rs 103.40. 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