Muthoot Finance jumps on eyeing 10% business growth in current fiscal

Muthoot Finance is currently trading at Rs. 1088.50, up by 14.65 points or 1.36% from its previous closing of Rs. 1073.85 on the BSE.

muthoot finance raises 450 million from international bond markets
Muthoot Finance

The scrip opened at Rs. 1073.60 and has touched a high and low of Rs. 1100.50 and Rs. 1073.60 respectively. So far 20446 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1722.55 on 15-Nov-2021 and a 52 week low of Rs. 950.05 on 26-Sep-2022.

Last one week high and low of the scrip stood at Rs. 1140.65 and Rs. 1040.85 respectively. The current market cap of the company is Rs. 43656.19 crore.

The promoters holding in the company stood at 73.35%, while Institutions and Non-Institutions held 21.69% and 4.96% respectively.

Muthoot Finance is eyeing a 10 per cent business growth in current fiscal. The company expects that by the end of the last quarter of this fiscal, it should be able to stage the comeback as one of the main reasons for decline in interest income was due to the low-interest scheme which is disbanded now.

The non-banking finance company (NBFC) posted a decline of 10 per cent in its net profit from a year ago period at Rs 901.60 crore in quarter ended September 2022.

Muthoot Finance is a non-banking financial company (NBFC), which is engaged in providing loan (financing) against collateral of gold jewelry. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking etc.

Check Also

Stand-Up India: Empowering Entrepreneurship and Financial Inclusion

Stand-Up India is a transformative initiative launched by the Government of India to promote entrepreneurship …