Manappuram, Muthoot Finance soar on RBI gold report

Posted By:
Subscribe to GoodReturns

Manappuram, Muthoot Finance soar on RBI gold report
Manappuram Finance: Quotes, News
BSE 73.00BSE Quote1.2 (1.64%)
NSE 73.00NSE Quote1.25 (1.71%)
Muthoot Finance: Quotes, News
BSE 295.95BSE Quote5.8 (1.96%)
NSE 295.50NSE Quote6.4 (2.17%)
Shares of Manappuram Finance and Muthoot Finance soared on Thursday after latest draft report by RBI on gold.

Manappuram Finance shares zoomed 17.46% to Rs 39.75 while Muthoot Finance jumped 11% to Rs 233 on BSE at 10.25 am IST.

RBI in its latest draft report said that banks may expand their gold jewellery loan portfolio to monetise the stocks of idle gold. Also, banks can continue their role as nominated agencies in gold imports

Leverage of the gold loan NBFCs is not a cause for concern at the present juncture, going forward, there is a need for improving owned funds of the NBFCs

There is a need to thoroughly review the operational practices, transparent communication of loan terms by gold loans NBFCs.

GoodReturns.in

Read more about: gold loan, manappuram, muthoot
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?