Muthoot Finance Share Price Hits Record High: Hear What Muthoot Finance's MD Has To Say

Описание: Muthoot Finance Ltd.'s share price hit a record high, and IIFL Finance Ltd. emerged as a top gainer among gold loan stocks. These stocks are continuing their rally as the Reserve Bank of India raised the loan-to-value ratio for lending against gold to small borrowers with a ticket size of up to Rs 2.5 lakh to 85% from 75% earlier. Muthoot Finance will likely benefit the most because the lender has 63% of its loan book below Rs 3 lakh. Positive sentiment for gold loan companies after RBI revised the loan-to-value (LTV) ratio for gold loans under Rs 2.5, said Vikas Jain, head of research at Reliance Securities. The move is to take effect after the Department of Financial Services suggested exempting borrowers availing loans under Rs 2 lakh.

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