Manappuram Finance shares surge 5.10% following major block deal

Shares of Manappuram Finance Ltd, the Kerala-based non-banking financial company (NBFC), surged 5.10 percent on Wednesday after a large block deal in the stock, The share price touched Rs 147.40 a unit. The stock witnessed about 2.22 percent in September.

As per the details of the block deal available, Elizabeth Matthew has bought about 43.5 lakh shares of Manappuram Finance at an average price of Rs 141.29 per share. This translates into an investment of about Rs 61.5 crore which again translates into a 0.51 percent equity holding in the company. Elizabeth Matthew is the wife of Matthew Cyriac, Executive Chairman & Founder of Florintree Advisors.

Florintree Advisors has Indiabulls Housing Finance, Reliance Infra, Hindustan Media, AGS Transact as well as PTC India in its portfolio.