TCSs Japan moment

TCSs Japan moment

Others would do well to emulate TCS' tie-up strategy.
Preparing for El Nio

Preparing for El Nio

Immediately, more oilseed/pulse imports and income stabilisation fund...

Gold finance firms Manappuram Finance, Muthoot Finance shares surge

Comments 0
Manappuram Finance Ltd and Muthoot Finance Ltd had been hit hard by RBI tightening rules. Manappuram Finance Ltd and Muthoot Finance Ltd had been hit hard by RBI tightening rules.
SummaryManappuram Finance, Muthoot Finance shares jumped on positive news emanating from RBI over gold loans.

Shares of Indian finance companies like Manappuram Finance Ltd and Muthoot Finance Ltd which provide loans against gold rallied on Monday on speculation the RBI may allow them to lend 75 per cent of the value of jewellery compared with 60 per cent earlier, traders said.

However, a person familiar with the central bank's thinking said the loan-to-value ratio had not been increased. "It (LTV) wasn't changed," the person said.

Last month, the Reserve Bank of India had tightened rules for gold non-banking finance companies, and had kept the loan-to-value ratio at 60 per cent.

Shares of Manappuram Finance Ltd Ltd and Muthoot Finance Ltd were up 5 per cent and hit the day's upper trading limit.

Officials at the two companies declined to comment.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...