{"id":58884,"date":"2022-08-16T14:03:00","date_gmt":"2022-08-16T08:33:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=58884"},"modified":"2022-08-16T14:01:01","modified_gmt":"2022-08-16T08:31:01","slug":"largest-gold-nbfc-stock-drops-15-on-subdued-q1-performance","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/largest-gold-nbfc-stock-drops-15-on-subdued-q1-performance\/","title":{"rendered":"Largest gold NBFC stock drops 15% on subdued Q1 performance"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3255019774\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The stock of the nation\u2019s largest gold loan NBFC, Muthoot Finance declined almost 15% in the early hours of trading on Tuesday. As of 9:40 IST, the scrip hit its low of \u20b91,009.30 per share, down 14.99% from its previous close of \u20b9 1,187.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2554710070\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Muthoot Finance is a large-cap financial services company with a market value of \u20b9 41,000 crores. It provides gold loans, housing finance, personal finance and insurance products to its customers. As of June 30, 2022, the Muthoot Group branch network stood at 5,667, an increase of 4% from 5,443 branches in Q1FY22.<\/p><p>The decline in share price is likely attributable to the subdued performance of the company in the June quarter. On a standalone basis, the net profit declined by 17.4% to \u20b9 802 crores from \u20b9 971 crores reported in the same quarter last fiscal year. Consequently, its Q1FY23 profit after tax dropped 16.5% to \u20b9 802 crores from \u20b9 960 crores in Q1FY22.<\/p><p>The consolidated gold loan assets under the management saw a decrease of 2%. They stood at \u20b9 63,444 crores in June 2023 quarter compared to \u20b9 64,494 crores for the quarter ending March 2022. The decline is noteworthy as it is in sharp contrast to the results of other financial services companies that saw a growth in their assets under management.<\/p><div class=\"trade-content_5\" id=\"trade-3868712486\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Despite this George Jacob Muthoot, Chairman of the Muthoot Group has an optimistic stance. Recently, the RBI also gave its approval for the opening of new 150 branches. This coupled with the reviving rural demand and huge untapped opportunity in the gold loan segment may bode well for the financier in the coming future.<\/p><p>After its weak results, Motilal Oswal revised its price target for the stock at \u20b9 1,250&nbsp; per share. This represents an upside of 20% from its trading price of \u20b9 1,040 as of 12:00 IST.<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Vikalp Mishra<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3989118311\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The stock of the nation\u2019s largest gold loan NBFC, Muthoot Finance declined almost 15% in the early hours of trading on Tuesday. As of 9:40 IST, the scrip hit its low of \u20b91,009.30 per share, down 14.99% from its previous close of \u20b9 1,187. Muthoot Finance is a large-cap financial services company with a market [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":49081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[],"class_list":["post-58884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Largest gold NBFC stock drops 15% on subdued Q1 performance - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/largest-gold-nbfc-stock-drops-15-on-subdued-q1-performance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Largest gold NBFC stock drops 15% on subdued Q1 performance\" \/>\n<meta property=\"og:description\" content=\"The stock of the nation\u2019s largest gold loan NBFC, Muthoot Finance declined almost 15% in the early hours of trading on Tuesday. 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