India Business News: Shares of Indian non-banking financial firm Muthoot Finance Ltd fell the most in nearly two months on Monday, after group chairman MG George Muthoot d
The funds would be raised by way of private placement of redeemable NCDs to be issued in one or more tranches as may be decided by the board or a committee thereof from time to time, it said in a BSE filing.
Muthoot Finance shares jump 4%; analysts see up to 34% upside after Q3 results
SECTIONS
Last Updated: Feb 10, 2021, 10:18 AM IST
Share
Synopsis
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.
Agencies
INSIGHTS
NSE
Explore Now
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 medium-term loan growth, as the low end o