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The growth in assets under management (AUM) of these NBFCs has been driven by customer retention, focus on small and mid-size loans, and expanding branch networks. ....
The firm’s golden run started facing headwinds over a year back. The gold loan market is getting busier with formidable competition from well-heeled contenders such as banks and other NBFCs. ....
The consolidated loan AUM grew 11 per cent YoY to Rs 71,497 crore in FY23, compared to Rs 64,494 crore last year. During the quarter, consolidated loan assets under management increased by 10 per cent. Consolidated profit after tax increased by 8 per cent to ₹1,009 crore as against Rs934 crore last quarter. ....
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. ....