Shares in gold finance companies dropped sharply for a second day in a row with Muthoot Finance falling 8 per cent per cent, while Manappuram Finance was down another 9 per cent.
The drops comes largely as a result of a fall in gold prices and worries that the fall in gold prices would mean that there is lesser hedge against the jewllery collateral that gold loan companies have.
Shares of Gold and gold ornament retailers also fell with PC Jeweller dropping 1 per cent, while Tribhoovandas Bhimji Zaveri dropped another 2 per cent and Thangamayil fell 4.5 per cent.
International gold prices have now fallen by as much as 20 per cent, ever since they peaked in 2011. Also read
Notifications
Settings
Clear Notifications
No New Notifications
Notifications
Use the toggle to switch on notifications
Block for 8 hours
Block for 12 hours
Block for 24 hours
Don't block
To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar
Click it and Unblock the Notifications
Close X
Close X
To Start receiving timely alerts please follow the below steps:
Click on the Menu icon of the browser, it opens up a list of options.
Click on the “Options ”, it opens up the settings page,
Here click on the “Privacy & Security” options listed on the left hand side of the page.
Scroll down the page to the “Permission” section .
Here click on the “Settings” tab of the Notification option.
A pop up will open with all listed sites, select the option “ALLOW“, for the respective site under the status head to allow the notification.
Once the changes is done, click on the “Save Changes” option to save the changes.
Click it and Unblock the Notifications
Sign in with Google