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Muthoot Finance shares jump 4%; analysts see up to 34% upside after Q3 results


Muthoot Finance shares jump 4%; analysts see up to 34% upside after Q3 results
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Last Updated: Feb 10, 2021, 10:18 AM IST
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The NBFC on Tuesday reported a 22 per cent jump in standalone profit after tax at Rs 991.4 crore for the December quarter compared with Rs 815.2 crore for the year-ago quarter.
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NEW DELHI: Muthoot Finance shares climbed 4 per cent in Wednesday s trade as brokerages raised their price targets for the scrip following the company s better-than-expected financial results for the December quarter. The new targets suggest a potential upside of up to 34 per cent over Tuesday s price.
With credit risk a structural non-issue and medium-term super-normal profitability, Edelweiss Securities said Muthoot Finance remains its top pick among NBFCs. It said that the company is on track for 25 per cent loan growth in FY21 and noted that the management has marked 15 per cent mediu ....

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