Mr Nandakumar continues to increase stake.
Disc: Added more recently around 60 levels. Bought initial tranche around 25-30 levels about 1.5 years back. My initial investment thesis is in a different thread ( Gold loan companies-- muthoot and manappuram finance )
The investment thesis then used to be that it was a value stock and an opportunistic bet. Now I have more conviction about the business and hence averaged up in the recent correction. Fairly confident that they will capture more business from the unorganized segment and their diversification other than gold loans should help them in the long run. Views are most likely positively biased. Please do your own research before investing.