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Muthoot Group: Kerala gold loan company's glitter marred by personal tragedies


Muthoot Group: Kerala gold loan company’s glitter marred by personal tragedies
© Jagyaseni Biswas
Muthoot Group: Kerala gold loan company’s glitter marred by personal tragedies
The business of offering loans using gold as collateral has mushroomed across the country in recent years. But nowhere has this business been as enmeshed in the social fabric of a people than in Kerala. And no company in Kerala has been so closely identified with this business than the Muthoot group.
Sample this: about 90 per cent of the contribution to the group’s consolidated loan assets is from Muthoot Finance, the flagship company that focusses on the gold loan business, according to its latest investor presentation.  Around 90 per cent of the Muthoot Finance assets are in gold loans. ....

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Shares of Muthoot Finance fall after chairman's death


Shares of Muthoot Finance fall after chairman s death
George Muthoot took charge as chairman in 1993, overseeing its expansion into more than 4,500 branches across the country and growing its market capital nearly eight folds in the past decade
Reuters
  |  
Bangalore
  |  
Published 09.03.21, 02:19 AM
Shares of Indian non-banking financial firm Muthoot Finance Ltd fell the most in nearly two months on Monday, after group chairman M.G. George Muthoot died over the weekend, with media reports saying he fell from his fourth floor house in New Delhi.
On the BSE, the stock opened sharply lower at Rs 1,205 and later recovered to touch an intra-day high of Rs 1,271 before closing at Rs 1,259.90, down Rs 29.85, or 2.31 per cent, ....

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