Muthoot Finance, Manappuram Finance: Fall in gold prices pose risk; fresh target prices
Shares of Manappuram Finance Ltd and Muthoot Finance Ltd have climbed up to 52 per cent in the past six months and ICICI Securities believes the prevailing valuations are factoring in continuity in the ongoing positive cycle for gold loan NBFCs. The domestic brokerage has downgraded Manappuram Finance to ‘Hold’ from ‘Buy’ with an unchanged