Manappuram Finance Shares Plunge 10% on 'Erroneous' RBI Report; Company Clarifies

• Manappuram Finance shares dropped 10% after a media report claimed RBI rejected Bain Capital's deal.
• The company clarified the report was 'factually incorrect and speculative', stating RBI approval for management changes was already received.
• Manappuram Finance confirmed that definitive RBI approval for the Bain Capital deal is still pending.
• Shares closed down 7.81% at ₹285.20 after recovering from a 9.99% intraday low.
• The stock has seen significant volatility, surging 89.80% in 11 months to a high of ₹320.95 before the recent dip.

Why It Matters: Manappuram Finance shares fell sharply due to a misleading report, which the company quickly refuted.