There has been a sharp rise in gold loans in recent years. But there is a seedier side to this, as is evident from the red flag the RBI raised recently. Will the regulator s move protect customers?
Shares of Muthoot Finance rose 4% today after the financial services firm Motilal Oswal announced a buy call on the gold loan NBFC. The brokerage set a target of Rs 1,750, an upside of 26% to the previous close. The stock touched an intra day high of Rs 1444, up 4% on BSE. Muthoot Finance shares stand higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.
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