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Muthoot Finance gains on launching Home Down Payment Loan

09 Oct 2014 Evaluate

Muthoot Finance is currently trading at Rs. 194.50, up by 1.50 points or 0.78% from its previous closing of Rs. 193.00 on the BSE.

The scrip opened at Rs. 193.45 and has touched a high and low of Rs. 194.75 and Rs. 193.25 respectively. So far 1808 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 221.00 on 20-May-2014 and a 52 week low of Rs. 92.00 on 15-Oct-2013.

Last one week high and low of the scrip stood at Rs. 201.00 and Rs. 192.00 respectively. The current market cap of the company is Rs. 7730.83 crore.

The promoters holding in the company stood at 75.00 % while Institutions and Non-Institutions held 19.10 % and 5.90 % respectively.

Muthoot Finance has launched a product ‘Home Down Payment Loan’ to finance margin money needed to avail of home loans. As per the norms, a home loan borrower has to pay 20 per cent margin money or his own contribution to avail of housing loan up to 80 per cent.

With repayment period of five years, this product has been designed for the down payment of a new property or renovation or extension of an existing property. Loan under this plan is provided instantly with no property or income documents required even before the property is selected.

It provides cheaper interest rates as compared to taking personal loans or from local pawn shops. The loan, available at 11 per cent interest rate, would range from Rs 1 lakh to 10 lakh for a period of 12 to 60 months.

Besides, the company has also launched consumer loan to offer convenient credit options to customers for buying consumer durable.

Muthoot Finance Share Price

3432.30 -55.70 (-1.60%)
05-May-2026 12:31 View Price Chart
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