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Gold Loan Firm Manappuram Bounces Back, Sequoia Ups Stake

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The share price of gold loan retailer Manappuram Finance Ltd rebounded as the management clarified on the circular passed by the Reserve Bank of India (RBI) warning  it against accepting any public deposits. The company’s share price rose over 8 per cent on Wednesday on BSE after crashing 20 per cent the previous day. The management has said that the RBI order will not have impact on the balance sheet and profit & loss statement of Manappuram Finance. The share price of Manappuram closed at Rs 49.3, up by 8.35 per cent on the BSE on Wednesday. read ...
Mentions: Reserve Bank of India Ashmore Sequoia Capital India