Shares of were trading 5.17 per cent lower at ₹346.50 on the NSE on Thursday afternoon, touching an intraday low of ₹346, even as remained near elevated levels.
The stock opened at ₹365.40, hit a high of ₹369.90 in early trade before sellers took over. Volume has been notably heavy, with over 96 lakh shares worth ₹339.57 crore traded on the alone by the afternoon, pointing to active profit-booking rather than any fundamental deterioration. The buy-sell ratio reflected bearish sentiment, with 67.52 per cent of queued quantity on the sell side, against 32.48 per cent on the buy side.
Manappuram’s stock has gained nearly 30 per cent over the past year and over 148 per cent in three years, leaving it vulnerable to profit-booking at elevated levels. The broader gold lending space was also under pressure.
Ravi Singh, chief research officer at Master Capital Services, attributed the weakness to profit-booking following the strong rally in both gold prices and gold-linked stocks. He described the current correction as technically healthy and said further dips could offer accumulation opportunities for medium- to long-term investors, with the structural outlook for gold lending remaining intact.
Manappuram’s market capitalisation stood at ₹32,562 crore at the time of reporting. The stock’s 52-week high of ₹381.55 was recorded on July 30, 2026. With about an hour of trade remaining, the direction of the close will be watched closely.