Manappuram Finance shares hit record high, up 51% YTD; what's next?

Shares of Manappuram Finance Ltd advanced 2.01 per cent to touch an all-time high of Rs 296.80 on Wednesday. However, the stock pared all intraday gains and ended 0.69 per cent lower at Rs 288.20. Despite the pullback, it has surged 51.01 per cent so far in calendar year 2025.

On BSE, about 62,000 shares were traded, notably below the two-week average volume of 2.08 lakh shares. The day's turnover stood at Rs 1.81 crore, while the company's market capitalisation (m-cap) was pegged at Rs 24,394.25 crore.

Analysts hold mixed views on Manappuram Finance for the near term. While one projects an upside potential towards Rs 320, another warns of a bearish setup that could push the stock down to Rs 250 if key support levels break. A third expects a short-term trading range of Rs 280–300, with a possible breakout above Rs 295.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "Manappuram is in a strong uptrend, trading near lifetime highs. Any dip towards Rs 270 is likely to act as a support, while historical trends suggest the stock could move towards Rs 320 in the near future."

Sebi-registered analyst AR Ramachandran remarked, "The stock looks bearish but overbought on daily charts, with a strong resistance at Rs 296. Investors may consider booking profits as a close below Rs 285 could drag the stock down to Rs 250 in the near term."

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, stated, "Support lies at Rs 280 and resistance at Rs 295. A decisive breakout above Rs 295 could lead to Rs 300, with the likely short-term trading range being Rs 280–300."

As of June 2025, promoters held a 35.25 per cent stake in the non-banking financial company (NBFC).