Manba Finance Ltd Share Price – NSE /  BSE

Finance, Small Cap

Manba Finance will hold a meeting of the Board of Directors of the Company on 28 November 2024

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The domestic equity benchmarks traded with significant gains in mid-morning trade. The Nifty traded above the 23,750 mark. IT shares advanced after declining in the past trading session.

At 11:26 IST, the barometer index, the S&P BSE Sensex surged 1,042.21 points or 1.35% to 78,381.22. The Nifty 50 index jumped 308.60 points or 1.32% to 23,762.40.

In the broader market, the S&P BSE Mid-Cap index rallied 1.72% and the S&P BSE Small-Cap index jumped 1.91%.

The market breadth was strong. On the BSE, 2,893 shares rose and 876 shares fell. A total of 127 shares were unchanged.

IPO Update:

The initial public offer (IPO) of NTPC Green Energy received bids for 6,73,23,714 shares as against 59,31,67,575 shares on offer, according to stock exchange data at 11:15 IST on 19 November 2024. The issue was subscribed 0.11 times.

The issue opened for bidding on 19 November 2024 and it will close on 22 November 2024. The price band of the IPO is fixed between Rs 102 to Rs 108 per share. An investor can bid for a minimum of 138 equity shares and in multiples thereof.

Buzzing Index:

The Nifty IT index jumped 2.05% to 42,253.95. The index dropped 2.23% in the past trading session.

Tech Mahindra (up 2.69%), Coforge (up 2.66%), Mphasis (up 2.57%), L&T Technology Services (up 2.44%), Tata Consultancy Services (up 2.22%), Wipro (up 2.01%), Persistent Systems (up 1.62%), Infosys (up 1.6%), LTIMindtree (up 1.52%) and HCL Technologies (up 1.04%) advanced.

Stocks in Spotlight:

Manba Finance rallied 3.72% after the company announced the signing of a memorandum of understanding (MoU) with Piaggio Vehicles to offer customized financing solutions for three-wheelers.

Godavari Biorefineries dropped 4.36% after the company’s consolidated net loss increased to Rs 74.99 crore in Q2 FY25 from net loss of Rs 65.14 crore posted in Q2 FY24. Revenue from operations declined 33.73% YoY to Rs 320.05 crore in the quarter ended 30 September 2024.

GMR Airports Infrastructure jumped 5.15% after the company reported a 9% year on year (YoY) increase in passenger traffic across all GMR airports, reaching over 10.7 million passengers in October 2024.

Global Markets:

Most Asian stocks traded higher on Tuesday as investors awaited key cabinet appointments from the incoming Trump administration. Meanwhile, market participants monitored shifts in US Federal Reserve policy expectations.

The probability of a rate cut at the December Fed meeting has decreased in recent days, as resilient economic data and potential inflationary pressures from the new administration’s policies could limit the scope for easing.

US stocks closed mixed on Monday. While the Dow Jones Industrial Average slipped 0.13%, the S&P 500 gained 0.39%, and the Nasdaq Composite Index rose by 0.60%.

Tesla shares surged over 5% following reports of the incoming administration's focus on autonomous vehicle development. NVIDIA stock closed 1% lower amidst reports of overheating issues with its upcoming AI chips, ahead of its third-quarter earnings report on Wednesday.

The upcoming week's US economic calendar is relatively light, with the key focus being the manufacturing and service sector PMI data due out on Friday. The National Association of Homebuilder's reported its housing market index for November rose to a reading of 46 versus 43 last month.

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Piaggio Vehicles (PVPL) is a wholly-owned subsidiary of the Piaggio Group and a prominent manufacturer of small commercial vehicles in India.

The collaboration aims to provide financing solutions to customers, featuring low down payment options, competitive interest rates, and loan tenures of up to four years. It would cover both internal combustion engine (ICE) and electric vehicle (EV) variants.

Under this agreement, Manba Finance and Piaggio Vehicles will form a dedicated central coordination team to oversee the partnership’s implementation.

The team will focus on key areas such as product structuring, interest rate optimization, resource allocation, centralized communication, and training to ensure the efficient execution and monitoring of the tie-up.

Monil Shah, CBO & Director, said: “We are proud to collaborate with one of India’s leading 3-wheeler manufacturers, a trusted brand among aspiring entrepreneurs across the country.

This partnership strengthens our footprint in the 3-wheeler segment while enabling us to provide seamless digital lending solutions to our customers.”

Manba Finance is a non-banking financial company – base layer (NBFC-BL) providing financial solutions for new two-wheeler (2Ws), three-wheeler (3Ws), electric two-wheeler (EV2Ws), electric three-wheeler (EV3Ws), used cars, small business loans and personal loans with an AUM size of more than Rs 1,106 crore as on 30 September 2024.

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Manba Finance has signed a Memorandum of Understanding (MoU) with Piaggio Vehicles (PVPL), a wholly-owned subsidiary of the Piaggio Group and a prominent manufacturer of small commercial vehicles in India. The collaboration aims to provide tailored financing solutions to customers, featuring low down payment options, competitive interest rates, and loan tenures of up to four years.

Under this agreement, Manba Finance and Piaggio Vehicles will form a dedicated central coordination team to oversee the partnership's implementation. The team will focus on key areas such as product structuring, interest rate optimization, resource allocation, centralized communication, and training to ensure the efficient execution and monitoring of the tie-up.

Covering both internal combustion engine (ICE) and electric vehicle (EV) variants, this partnership supports India's EV transition while encouraging entrepreneurship in the 3W segment. Special financing considerations are also available for women entrepreneurs, further enhancing inclusivity.

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