Manappuram Finance Ltd counter witnessed hectic trading on the BSE in the wake of company’s communication to the stock exchanges that the pledge of 4.05 crore shares made by V.P. Nandakumar, Managing Director & CEO of MFL, with Religare Finvest Ltd has been released.
The stock gained 60 paise to Rs 36.50 (share face value Rs 2) on the BSE. The counter registered a trading volume of 9.67 lakh shares by 12.20 pm today against the two-week average volume of 1.42 lakh shares.