FPIs hike stake in gold loan companies Muthoot, Manappuram Finance in Q3

Manappuram Finance (up 36 per cent) and Muthoot Finance (up 32 per cent) outperformed the market by surging over 30 per cent since October 2018, as compared to 0.25 per cent rise in Sensex.

Foreign portfolio investors (FPIs) are accumulating equity shares of gold loan companies, as they increased their holdings in Muthoot Finance and Manappuram Finance for the second consecutive quarter on expectations of healthy growth going forward.

In Manappuram Finance, FPIs bought an additional 1.26 percentage point stake to 39.44 per cent during the October-December quarter (Q3FY19). They hold 38.18 per cent stake in the company at the end of the September quarter (Q2FY19).

FPI holding in Muthoot Finance has increased by 0.82 percentage points to 11 per cent from 10.18 per cent in the previous quarter, according to the