Shares of gold loan financiers like Muthoot Finance and Manappuram Finance rallied 5-20% in the morning trade on BSE, after the prices of yellow metal hit record high.
Muthoot Finance was quoting 13% higher at Rs 115 on back of heavy volumes. The stock surged as much as 20% to Rs 122 in intra-day trades on BSE. A combined 1.31 million shares already changed hands on the counter till 1000 hours against an average around one million shares that were traded daily in past two weeks.
Manappuram Finance locked in upper circuit of 5% at Rs 18.61, have seen no sellers on the counter. A combined 1.08 million shares change hands so far and there are pending buy orders for 346,560 shares on BSE and NSE.
On Wednesday, in Mumbai, standard gold of 99.5% purity strengthened by Rs 680 to close at Rs 33,265 per 10 grams from Tuesday's closing level of Rs 32,585.
Muthoot Finance was quoting 13% higher at Rs 115 on back of heavy volumes. The stock surged as much as 20% to Rs 122 in intra-day trades on BSE. A combined 1.31 million shares already changed hands on the counter till 1000 hours against an average around one million shares that were traded daily in past two weeks.
Manappuram Finance locked in upper circuit of 5% at Rs 18.61, have seen no sellers on the counter. A combined 1.08 million shares change hands so far and there are pending buy orders for 346,560 shares on BSE and NSE.
On Wednesday, in Mumbai, standard gold of 99.5% purity strengthened by Rs 680 to close at Rs 33,265 per 10 grams from Tuesday's closing level of Rs 32,585.
