Muthoot Finance Ltd Share Price (MUTHOOTFIN)

Muthoot Finance Board Approves $2 Billion ECB Plan - 19 Apr, 2024

Muthoot Finance's board has approved a $2 billion External Commercial Borrowing (ECB) plan to fund business expansion. The update of the existing Global Medium Term Note Programme will aggregate to $2 billion.

Muthoot Finance Updates GMTN Programme - 18 Apr, 2024

Muthoot Finance has approved the update of its existing Global Medium Term Note Programme for $2 billion. The Notes proposed to be issued pursuant to the programme are set to be listed on NSE IFSC.

Gold Loan Book of Muthoot Finance Expected to Grow in Q4FY24 - 15 Apr, 2024

Muthoot Finance's gold loan book is expected to grow at a higher rate than previously assumed in Q4FY24, with elevated gold prices and stable asset quality. Analysts expect 16.8% CAGR in gold loans AUM for Muthoot between Q3FY24 and FY26. Regulatory tightening on unsecured loans could be a sentiment positive for gold-backed lenders.

Muthoot Finance Likely to Benefit from Sector Tailwinds - 13 Apr, 2024

Muthoot Finance and Manappuram Finance are likely to benefit from increasing gold prices, reduced competition from banks post-Covid, and regulatory interventions. Muthoot Finance is preferred due to strong customer acquisition and retention measures, entry into new geographies and customer segments, economies of scale, and growth based on internal accruals. Earnings estimates have been raised for FY24E-FY26E, with a Buy rating and revised target price of Rs 1,927.

Muthoot Finance Seeks Funds Through Debenture Issue; Earnings Estimates Revised Upward - 10 Apr, 2024

Muthoot Finance is set to raise up to Rs 360 crore through a public issue of debentures. Meanwhile, Nirmal Bang Institutional Equities has revised its earnings estimates for the company upward due to various factors such as strong customer acquisition and retention measures, entry into new geographies and customer segments, economies of scale, and growth based on internal accruals.

Muthoot Finance Set to Benefit from Gold Price Surge - 09 Apr, 2024

Muthoot Finance is set to benefit from the surge in gold prices as it lifts the value of collateral held by the company. Additionally, Kochi-based microfinance institution, Muthoot Microfins, reported a 32% YoY growth in assets under management for the March quarter.

Muthoot Microfin Reports Strong Growth in AUM and Disbursements - 08 Apr, 2024

Muthoot Microfin reports a 32% YoY growth in assets under management (AUM) and loan disbursement at a record high of Rs 10,662 crore during the financial year 2023-24. The company also expands its branch network by 29%, reaching a total count of 1,508 branches.

Muthoot Finance Misrepresented Information to CCI - 05 Apr, 2024

The Competition Commission of India found Muthoot Finance guilty of misrepresenting information and indulging in forum shopping in a 2021 complaint against debenture trustees. The gold loan company's stock is performing well due to high gold prices, but competition within NBFCs remains a concern.

Muthoot Finance Shares Surge on Gold Prices, Receives Show-Cause Notice from CCI - 04 Apr, 2024

Shares of Muthoot Finance reached a 52-week high due to the surge in gold prices. However, the company also received a show-cause notice from the Competition Commission of India for alleged misrepresentation of data.

Muthoot Finance's TSR for the last 5 years was 165% - 01 Apr, 2024

Muthoot Finance's five-year earnings growth trails shareholder returns, but its TSR for the last 5 years was 165%, exceeding share price return. The dividend payments largely explain the divergence.

Muthoot Microfin Raises $75 Million Through ECBs - 28 Mar, 2024

Muthoot Microfin has raised $75 million via external commercial borrowings from Standard Chartered Bank, Doha Bank, Rakbank (National Bank Of Ras Al Khaimah), Union Bank of India (UK) Ltd, and Canara Bank, GIFT City. The funds will be used for on-lending and financing of eligible social loans.

Muthoot Finance Excluded from Nifty Next 50 List; Sees Sharp Jump in Gold Auctions - 26 Mar, 2024

Muthoot Finance has been excluded from the Nifty Next 50 list by Nuvama. Additionally, Muthoot and Manappuram have seen a sharp increase in gold auctions, with Muthoot conducting ₹381 crore worth of auctions in December 2023.

Muthoot Finance Increases Stake in Belstar Microfinance - 22 Mar, 2024

Muthoot Finance has invested Rs 300 crore to acquire an additional 4.48% stake in Belstar Microfinance, increasing its total shareholding to 63.50%.

Gold Prices Boost Muthoot Finance and Manappuram Finance Shares - 21 Mar, 2024

Shares of Muthoot Finance and Manappuram Finance jumped nearly 5% and over 3%, respectively, as gold prices surged to a new high. Gold loan companies tend to benefit from rising gold prices as the value of their collateral increases, leading to an increase in ticket size of loans and loan growth for gold financiers.