NBFC Stocks Plummet: Manappuram Finance and IIFL Finance Shares Drop on Disappointing Q3 Results
2025-02-14
Business Line
Shares of non-banking financial companies (NBFCs) Manappuram Finance and IIFL Finance witnessed a significant decline of 6% on Friday, following the release of their weaker-than-expected Q3 results. The stocks had initially plummeted by 13% and 8% respectively in early trade, indicating a loss of investor confidence. This downturn can be attributed to the companies' failure to meet street estimates, sparking concerns about their financial health and future growth prospects in the finance sector, particularly in the areas of personal finance and financial services.
