NEW DELHI:
Muthoot Finance shares plunged 7 per cent on Monday after the NBFC s chairman, MG George Muthoot, passed away on Friday evening by falling from the fourth floor of his house.
Muthoot was largely credited for making Muthoot Finance a pan-India company, and the largest gold loan NBFC.
Following the development, the scrip fell 6.57 per cent to hit a low of Rs 1,205 on BSE.
Police received information on Friday at 9:21 pm regarding the admission of MG George Muthoot at a hospital after he fell from the fourth floor of the house, and was later declared dead, a senior officer said.
Stock in news: Adani Ports, Muthoot Finance, BEML, Just Dial, Ircon, Tata Chemicals and others
Shares of Adani Ports, Muthoot Finance, BEML, Just Dial, Ircon, Tata Chemicals others will be in focus in Monday s trading session
BusinessToday.In | March 8, 2021 | Updated 09:15 IST
Stocks to watch today: Adani Ports, Muthoot Finance, BEML, Just Dial, Ircon, Tata Chemicals
Indian benchmark indices, Sensex and Nifty, are likely to start week on positive note, tracking firm cues from global peers and positive trading at Nifty futures on the Singapore Exchange. Asian stocks were trading higher on $1.9 trillion stimulus bill passed by the US Senate as well as strong macro data which indicates recovery in global economic outlook.
Muthoot Finance fell 3.76% to Rs 1241.25 after the company s chairman and whole-time director, M G George Muthoot, passed away on Friday, 5 March 2021.
The media reported that M G George died on Friday night after he allegedly fell from the fourth floor of his house in southeast Delhi s East of Kailash. George was 72-years-old. He was rushed to Fortis Escort Hospital where he was declared dead during treatment. His postmortem report which was conducted by AIIMS suggests no foul play, reports added.
Under the stewardship of M G George Muthoot, the company saw new heights of growth and became the market leader in gold loan industry. He was responsible for scaling up the Muthoot Group s presence beyond South India by expanding its branch presence across North, East and West India and thereby transforming the company into a pan India organization.
Story
Share Market Highlights: Sensex ends 35 pts higher, Nifty below 15k; L&T, ONGC, HCL Tech, NTPC top gainers
Stock Market Updates Today: Larsen & Toubro, ONGC, HCL Technologies, NTPC and Axis Bank were among top gainers, while Bajaj Finance, IndusInd Bank, UltraTech Cement and HDFC were among top losers
BusinessToday.In | March 8, 2021 | Updated 17:34 IST
Share Market News: Larsen & Toubro, ONGC, HCL Technologies, NTPC and Axis Bank were top gainers
Indian benchmark indices ended marginally higher on Monday, paring most of early gains, weighed down by losses in realty and FMCG space, weak Asian markets, falling US futures and rising oil prices. The BSE Sensex ended 35.75 points or 0.07 per cent higher at 50,441.07 and the NSE Nifty closed at 14,956.2, up by 18.1 points or by 0.12 per cent. Outperforming the benchmark indices, the broader market settled with decent gains. The BSE MIDCAP closed 0.36 per cent higher, while the BSE SMLCAP up by 0.66 per cent. The Market breadt
Muthoot Finance share price declined as much as 6.57 per cent in opening deals to hit low of Rs 1,205 as investors reacted to sudden demise of MG George Muthoot, the chairman of the company