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Muthoot Finance Ltd Q3FY21 consolidated net profit up at Rs 1004 83 crore

Quick Loans Market to witness Massive Growth| Key Players: SBI, Standard Chartered, Credit Agricole, Capital Float

Quick Loans Market to witness Massive Growth| Key Players: SBI, Standard Chartered, Credit Agricole, Capital Float
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Financials shares fall

Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 76.46 points or 1.04% at 7246.72 at 13:48 IST. Among the components of the S&P BSE Finance index, Shriram Transport Finance Company Ltd (down 6.05%), Magma Fincorp Ltd (down 5.05%),Cholamandalam Investment & Finance Company Ltd (down 4.93%),Dolat Investments Ltd (down 4.71%),Dewan Housing Finance Corporation Ltd (down 4.64%), were the top losers. Among the other losers were Dhanlaxmi Bank Ltd (down 4.2%), Muthoot Finance Ltd (down 4.13%), Bandhan Bank Ltd (down 3.93%), Bajaj Finance Ltd (down 3.63%), and Housing Development Finance Corporation Ltd (down 2.91%). On the other hand, Housing & Urban Development Corporation Ltd (up 12.3%), Jammu and Kashmir Bank Ltd (up 8.63%), and Paisalo Digital Ltd (up 4.31%) moved up.

Moody s affirms Muthoot Finance s outlook to stable from negative

Moody s affirms Muthoot Finance s outlook to stable from negative ANI | Updated: Dec 14, 2020 14:24 IST It said the affirmation and change in outlook to stable reflect Muthoot s steady credit profile despite the economic contraction caused by coronavirus pandemic. In addition, the rating action reflects Moody s expectation that Muthoot s financial performance will remain stable over the next 12 to 18 months, supported by its leading franchise and track record of providing loans against gold jewellery, superior profitability and strong capitalisation. Over the past six months, a surge in gold price which backs about 90 per cent of the company s loans helped improve loan collections and disbursements with both exceeding their five-year averages in the quarter ended September.

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