MUMBAI: Non-banking financial companies (NBFCs) are increasingly looking overseas for funds as domestic banks have been slow in passing on the benefits of the recent 50 basis points (bps) repo rate cut, according to experts. Many banks have only marginally reduced their marginal cost of funds-based lending rate (MCLR) by 5-10 bps, prompting NBFCs to
Muthoot Finance Ltd reported an operationally healthy March quarter, with a strong 41 per cent year-on-year (YoY) growth in gold loans. Profit for the Kochi-based NBFC grew 42.7 per cent YoY in Q4, led by robust loan growth, controlled increase in opex and sequential decline in provisions. Net interest margin (NIM), however, fell sequentially. While
Muthoot Finance Ltd shares continued their sharp fall for the second consecutive session in Friday’s trade. The stock slumped 8.22 per cent to hit a day low of Rs 1,964.35. At this price, it has tumbled 14.37 per cent in just two trading days. Market experts suggested investors to maintain a cautious approach on the