Manappuram, Muthoot Finance soar on RBI gold report

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
    Manappuram, Muthoot Finance soar on RBI gold report
    Manappuram Finance: Quotes, News
    BSE 88.45BSE Quote0.6 (-0.68%)
    NSE 88.50NSE Quote0.6 (-0.68%)
    Muthoot Finance: Quotes, News
    BSE 471.95BSE Quote8.1 (-1.72%)
    NSE 471.55NSE Quote9.75 (-2.07%)
    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
    Story first published: Thursday, January 3, 2013, 10:35 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more