Manappuram Fin surges 11 per cent

At the NSE,the stock gained 11.21 per cent to close at Rs 30.25.

On the volume front,72.17 lakh shares of the company changed hands on the BSE,while more than 3 crore shares were traded on the NSE.

Baring India Private Equity has picked up 5.94 per cent stake in gold finance company Manappuram Finance for an estimated Rs 136 crore.

The private equity firm bought about 5 crore shares of Manappuram Finance from the open market.

Manappuram Finance was established in 1992 in Thrissur (Kerala). It is a non-deposit taking NBFC and is mainly engaged in providing retail advances against bullion asset collaterals,in the form of household used jewellery.

Meanwhile,in the broader market the BSE Sensex ended the day at 16,906.58,up 24.42 points.