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Muthoot Finance Share Rate Slumps 15% the Near-Term Outlook is Bleak

The Muthoot Finance share rate has plummeted 15%. The company's gold loan growth trajectory will be determined by net new customer acquisition in coming days.

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Muthoot Finance Share Rate Slumps 15% the Near-Term Outlook is Bleak

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  1. Muthoot Finance Share Rate Slumps 15% the Near-Term Outlook is Bleak In response to the non-banking financial company’s poor Q1FY23 earnings, Muthoot Finance share rate was crushed on Tuesday. As the Muthoot Finance share rate has slumped, it has surely created some reactions in the market. According to a regulatory filing, financial institution Muthoot Finance said on Monday that its board has recommended an interim dividend of Rs 20 per equity share (200%) for the company. More on Muthoot Finance Share Rate The Muthoot finance dividend will be paid to shareholders whose names are listed as of April 26, 2022, at the close of business, both as Beneficial Owners on

  2. the list that the Depositories will provide for shares held electronically and as Members in the Company’s Register of Members for shares held physically. On the opening trades on NSE Muthoot Finance, the stock decreased by 15%. One of the most disappointing results was a 17.4% decline in net profit due to difficulties in its primary gold lending business. It was due to teaser loans that the company’s yields were low throughout the quarter. Despite a weak Q1, management maintained its 10-15% AUM growth estimate for FY23. After the results were announced, management stated that it expects AUM for gold loans to grow over the next few quarters. Additionally, this goal loan provider announced that the Reserve Bank of India had approved 150 new branches to open by October, which is anticipated to help the expansion of gold AUM. The Cautions Approach of Traders and Analysts Analysts are cautious about the company’s near-term success. Kotak Institutional Equities analysts predict Muthoot’s earnings will continue to be under pressure for another quarter. As a result of the teaser scheme’s termination, the domestic brokerage business will monitor gold loan expansion. The concern is whether the company will be able to retain the customers if the advertised rates are removed. You can read the full content: https://www.businessupside.in/muthoot-finance-share-ratemuthoot-finance-share-rate-sl umps-15-the-near-term-outlook-is-bleak/ Business Upside India Email ID: support@businessupside.co m Phone No.: 1800-270-3002 Visit Us: https://www.businessupside.in/

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