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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.

“Call it gig, call it moonlighting, the reality is that there are many jobs out there but people cannot make enough money to make ends meet and therefore need to work multiple jobs to be able to meet their financial requirements. It is not a new thing. I am excited that we are talking about it.”

"With inflation expected to remain above the upper tolerance threshold in Q2 and Q3 of the current financial year, the MPC stressed that sustained high inflation could de-stabilise inflation expectations and harm growth in the medium term," RBI Governor Shaktikanta Das said.