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“In the current uncertain environment, nobody will talk about neutral. The current stance gives them the flexibility of raising rates in the next policy or doing nothing in the next policy. But if you go neutral, you are saying you can raise rates and also cut rates. I do not think there is any thought of cutting rates at this juncture.”

A total of 25,400 shares changed hands on the counter till 02:01PM (IST).

The stock traded at a P/E multiple of 68.89, while the price-to-book value ratio stood at 17.31.

“The application of artificial intelligence or robotic process automation or cyber security businesses are becoming more and more critical and we cannot do without them to run any kind of business. The structural demand for these IT sector activities are going to be in a 20-year bull run according to me.”

Investors would be keenly watching the management commentary over the international business expansion. Besides, they would keenly follow any commentary on the impact on demand due to import duty hike on gold.

Promoters held 74.03 per cent stake in the company as of 30-Jun-2022, while FII and DII ownership stood at 8.42 per cent and 5.09 per cent, respectively.

On the technical charts, the RSI of the stock stood at 47.31.

Manappuram Finance Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 9259.56 Crore) operating in NBFC sector.

The Nifty Auto index closed 0.2 per cent up at 12945.7.

Das said that the domestic currency has fared much better than EM currencies, adding that the central bank remained watchful and focused on maintaining stability in rupee.