Manappuram Finance (up 9.37%), Muthoot Finance (up 2.63%) and Muthoot Capital Services (up 1.95%), edged higher.
Meanwhile, the BSE Sensex was down 65.76 points, or 0.33% at 19,699.02.
On Thursday, 3 January 2013, Manappuram Finance, Muthoot Finance and Muthoot Capital Services surged by 7% to 19.97%.
The Reserve Bank of India (RBI) made the announcement after market hours on Wednesday, 2 January 2013. According to draft report prepared by a working group set up by RBI, under the chairmanship of K U B Rao, an adviser to RBI's department of economic and policy research, has suggested a review of the cap on the loan-to-value (LTV) of gold-loan non-banking finance companies (NBFCs) to 75%.
Currently, the ratio for gold loans by NBFCs is capped at 60%. This means for gold worth Rs 100 offered as collateral, lenders can give loans up to Rs 60.
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