Indian equity benchmarks closed higher on Friday after a highly volatile session, driven by buying interest in banking, financials and IT stocks. The BSE Sensex pack gained 193 points or 0.23 per cent to end at 83,433, while the NSE Nifty index advanced 56 points or 0.22 per cent to close at 25,461. However, broader
George Alexander Muthoot, Managing Director, Muthoot Finance Muthoot Finance has become the first listed company from Kerala to cross the coveted ₹1 lakh crore market capitalisation (m-cap) milestone. The share price touched an all-time high of ₹2,545.90 on BSE on Wednesday. The company now ranks amongst the top 100 listed Indian companies in terms of
The Muthoot Finance share price has been in the limelight after the RBI‘s final gold loan norms relaxed some of the tighter norms proposed in the draft. The stock ended the session with nearly 4% gains. The stock is Jefferies preferred pick in this space. The international brokerage house has a price target of Rs
Shares of Muthoot Finance Ltd. jumped up to 8%, while those of Manappuram Finance Ltd., and IIFL Finance Ltd. surged up to 5% after RBI Governor Sanjay Malhotra’s remarks on gold loans during the RBI policy press conference. The Governor said that the Loan to Value (LTV) or small loans up to ₹2.5 lakh per
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