Muthoot Finance is currently trading at Rs. 229.65, up by 12.40 points or 5.71% from its previous closing of Rs. 217.25 on the BSE.
The scrip opened at Rs. 220.00 and has touched a high and low of Rs. 232.65 and Rs. 217.75 respectively. So far 228519 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 232.65 on 21-May-2014 and a 52 week low of Rs. 120.25 on 30-Jan-2014.
Last one week high and low of the scrip stood at Rs. 232.65 and Rs. 190.00 respectively. The current market cap of the company is Rs. 8998.24 crore.
The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 16.85% and 8.15% respectively.
Muthoot Finance, one of the pioneers and leaders in the Gold Loan industry has entered into an arrangement with Yes Bank, the fourth largest private sector bank in India, wherein it would to act as the Business Correspondent of the bank. Under this arrangement, the company would now offer services of the bank to the public through its 4256 branches spread across the country. The company is going to be the first NBFC to be entering in to the Business Correspondents segment post the revised regulations from RBI.
A business correspondent is a representative of the bank who offers services on behalf of the bank to the public. Earlier, banks were not allowed to appoint NBFCs to act as their BC; however the Reserve Bank of India through its circular in June last year permitted banks to appoint Non Deposit taking NBFCs as their Business Correspondents (BC).
Muthoot Finance is the largest gold financing company in India in terms of loan portfolio. The company is a Systemically Important Non-deposit taking NBFC headquartered in the southern Indian state of Kerala and with its corporate office in New Delhi.
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