Read more about Volumes spurt at CRISIL Ltd counter on Business Standard. CRISIL Ltd registered volume of 11276 shares by 10:49 IST on BSE, a 5.88 fold spurt over two-week average daily volume of 1918 shares
Read more about Muthoot Finance spurts after Q4 PAT grows 22% to Rs 1,024 cr on Business Standard. Muthoot Finance rallied 7.68% to Rs 1,409 after the company s consolidated net profit jumped 22.49% to Rs 1,023.76 crore on 18.43% rise in total income to Rs 3,118.97 crore in Q4 March 2021 over Q4 March 2020.
Gold loan-focused non-banks like Manappuram Finance have auctioned a record 1 tonne, worth Rs 404 crore, of the pawned gold in the last quarter of 2020-21, indicating deepening distress among the public due to the pandemic and have warned that banks are headed to an NPA crisis from September quarter when gold loans with one-year tenure mature. During the first wave of the pandemic, among the many measures the Reserve Bank announced to alleviate the financial distress of the public, one was to allow banks to offer 90 per cent of the value of gold in loans. This helped millions of households, as it came amidst a massive spike in gold prices, which had crossed Rs 5,600/gram in the peak of the pandemic last year.
Read more about Karnataka Bank Ltd Falls 7.02% on Business Standard. Karnataka Bank Ltd has added 9.14% over last one month compared to 5.31% gain in S&P BSE Finance index and 4.08% rise in the SENSEX
Financials stocks were trading in the negative zone, with the S&P BSE Finance index falling 60.21 points or 0.78% at 7637.9 at 13:49 IST. Among the components of the S&P BSE Finance index, Union Bank of India (down 8.33%), PNB Housing Finance Ltd (down 4.93%),SBI Cards & Payment Services Ltd (down 4.89%),Cholamandalam Investment & Finance Company Ltd (down 4.37%),Angel Broking Ltd (down 3.37%), were the top losers. Among the other losers were Computer Age Management Services Ltd (down 3.31%), Aditya Birla Money Ltd (down 3.16%), ICICI Prudential Life Insurance Company Ltd (down 2.86%), Shriram City Union Finance Ltd (down 2.79%), and Motilal Oswal Financial Services Ltd (down 2.59%). On the other hand, Cholamandalam Financial Holdings Ltd (up 5.7%), Muthoot Capital Services Ltd (up 5.39%), and Equitas Holdings Ltd (up 4.3%) moved up.