Muthoot Finance at new high on strong Q2 show; Manappuram also shines

The management of Muthoot Finance is optimistic about growing the company's gold loan book further and maintains 15 per cent growth guidance for FY22.

Shares of gold loan financiers Manappuram Finance and Muthoot Finance hit their respective record highs and rallied up to 10 per cent on the BSE in Monday’s intra-day trade after Muthoot Finance reported a strong growth in gold loan for the quarter ended September 2021 (Q2FY22).

Muthoot Finance hit a record high of Rs 1,683, surging 10 per cent after gold loan finance major posted a 8 per cent jump in consolidated net profit at Rs 1,003 crore in Q2FY22 compared to Rs 931 crore in Q2FY21, owing to an improved performance on gold loans. The stock surpassed its