Since November 18, the market price of Muthoot Finance soared 22 per cent after for FY25 the company revised its gold loan growth guidance upwards to 25 per cent from earlier guidance of 15 per cent.
Muthoot Finance on Thursday reported over 26 per cent jump in net profit at Rs 1,251.1 crore in the second quarter ended September 2024. The company had a net profit of Rs 991 crore in the second quarter of 2023-24 fiscal. Muthoot Finance's total revenue from operation rose to Rs 4,117.4 crore during the latest July-September quarter from Rs 3,059.67 crore in the corresponding period a year ago. In a regulatory filing, Muthoot Finance said its board has approved additional equity infusion of Rs 500 crore in its wholly-owned subsidiary Muthoot Money Ltd. Shares of Muthoot Finance closed at Rs 1,800, up 1.53 per cent over previous close on the BSE.
The country's largest gold finance company will pay a semi-annual coupon of 6.3750 per cent on this issue, the bankers said, adding that bids opened on Wednesday and closed earlier in the day
Derivatives market update for Sept 06: The Nifty PCR dipped from 0.74, while Bank Nifty to 0.78; reflecting a cautionary trend said Dhupesh Dhameja of SAMCO Securities. Max Financial see short buildup
In the derivatives segment, stocks such as India Cement, GMR Infra, Chambal Fertilizers seem to have witnessed long unwinding in recent trading sessions owing to the sharp rally in share prices.
The downside in Bajaj Finance, Bernstein said, was because much of the positives are priced into the stock's rich valuations
Muthoot Finance Q4: Muthoot Finance clocked its highest-ever consolidated loan asset under management (AUM) of Rs 89,079 crore in Q4FY24
Muthoot's standalone loan assets under management increased 20% to Rs 75,827 crore for the year ended March 31
Muthoot Finance has been in a steady uptrend for over 10 months, consistently forming higher highs and lows with a gradual increase in volumes
Muthoot, Manappuram Finance outlook: Shares of gold loan lenders could see limited downside in the near-term, as broader trend remain up; charts show.
The non-banking finance company will use the proceeds for onward lending and other activities permitted under external commercial borrowing guidelines
Muthoot Finance is aiming to issue benchmark-sized bonds, which means the issuance will be around $500 mn
Muthoot Finance's microfinance arm, Belstar Microfinance Ltd, on Sunday filed preliminary papers with capital markets regulator Sebi to raise Rs 1,300 crore through an initial public offering (IPO). The Chennai-based entity's IPO is a combination of fresh issue of equity shares worth Rs 1,000 crore and an offer-for-sale (OFS) of Rs 300 crore by investor shareholders, according to the draft red herring prospectus (DRHP). As a part of the OFS, Danish asset management firm MAJ Invest aims to sell shares to the tune of Rs 175 crore, followed by Arum Holdings Ltd (Rs 97 crore) and Augusta Investments Zero Pte Ltd (Rs 28 crore). Maj Invest had first invested in Belstar Microfinance in 2018 and again in 2022. At present, Muthoot Finance, which is one the promoters, holds a little over 66 per cent stake in Belstar Microfinance. Proceeds from the fresh issue worth Rs 760 crore will be used to meet future capital requirements towards onward lending and the remaining amount will be used for
The company will pay an annual coupon of 9.03% on this issue and has invited commitment bids for the same on Thursday
Manappuram Finance, Muthoot Finance and state-run REC are aiming to issue benchmark-sized bonds, which means the issuance will be around $500 million each, the three bankers said
The AUM in the March quarter soared to Rs 12,194 crore as compared to Rs 9,208 crore during the same period a year ago
Leading gold loan financier Muthoot Fincorp on Friday said it will raise Rs 300 crore through the issue of secured, redeemable, non-convertible debentures (NCDs). The issue opened for public subscription from Friday and will be open till January 25, the company said. The company said the proposed debt issuance is within the shelf limit of the board approved plan of raising up to Rs 1,100 crore this fiscal. The base size of the third tranche is Rs 75 crore with a green shoe option of Rs 225 crore. The company offers tenure options of 24 months, 36 months, 60 months, and 96 months with monthly, annual, and cumulative payment options across options with the coupon rate ranging from 9.26-9.75 per cent.
Stocks to Watch on Tuesday: DreamFloks Services to debut on Tuesday; Reliance Industries acquires majority stake in SenseHawk for $32 mn; Delta Corp in F&O ban.
Muthoot Finance is headed towards Rs 1,700 levels
Pace of new customer addition is slowing; lending to existing customers is on the rise