Muthoot Finance rises as its arm aims to disburse Rs 700 crore loans for affordable housing in FY22
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Muthoot Finance is currently trading at Rs. 1303.70, up by 6.55 points or 0.50% from its previous closing of Rs. 1297.15 on the BSE.
The scrip opened at Rs. 1302.00 and has touched a high and low of Rs. 1323.20 and Rs. 1284.40 respectively. So far 59851 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1405.00 on 28-Jul-2020 and a 52 week low of Rs. 477.50 on 24-Mar-2020.
Last one week high and low of the scrip stood at Rs. 1361.55 and Rs. 1276.90 respectively. The current market cap of the company is Rs. 52323.09 crore.
The promoters holding in the company stood at 73.40%, while Institutions and Non-Institutions held 22.10% and 4.50% respectively.
Muthoot Finance’s subsidiary company -- Muthoot Homefin is aiming to disburse Rs 700 crore loans in the next financial year to cater to the affordable housing segment. The company has disbursed over Rs 2,600 crore over the past five years since its inception.
For the coming year, in addition to further penetration into the existing geographies, Muthoot Homefin also plans to expand its operations in the southern states of India and aims to disburse up to Rs 700 crore of home loans in FY 2021-22.
Muthoot Finance is a non-banking financial company (NBFC), which is engaged in providing loan (financing) against collateral of gold jewelry. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking etc.
