AgenciesEdelweiss has buy call on Muthoot Finance with a target price of Rs 1370. The current market price of Muthoot Finance Ltd. is Rs 1305.3.
Muthoot Finance Ltd., incorporated in the year 1997, is a Large Cap company (having a market cap of Rs 52112.27 Crore) operating in NBFC sector.
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2821.03 Crore, up 8.31 % from last quarter Sales of Rs 2604.48 Crore and up 17.67 % from last year same quarter Sales of Rs 2397.38 Crore Company reported net profit after tax of Rs 930.80 Crore in latest quarter.
Investment Rationale
The stock is getting ready for another round of upside as it breaks out from its previous trading range of Rs 1,150-1,250. Volumes on the breakout are above average, suggesting momentum could continue.
Promoter/FII Holdings
Promoters held 73.4 per cent stake in the company as of Sept 30, 2020, while FIIs held 13.9 per cent, DIIs 7.7 per cent and public and others 5 per cent.
Muthoot Finance Ltd., incorporated in the year 1997, is a Large Cap company (having a market cap of Rs 52112.27 Crore) operating in NBFC sector.
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2821.03 Crore, up 8.31 % from last quarter Sales of Rs 2604.48 Crore and up 17.67 % from last year same quarter Sales of Rs 2397.38 Crore Company reported net profit after tax of Rs 930.80 Crore in latest quarter.
Investment Rationale
The stock is getting ready for another round of upside as it breaks out from its previous trading range of Rs 1,150-1,250. Volumes on the breakout are above average, suggesting momentum could continue.
Promoter/FII Holdings
Promoters held 73.4 per cent stake in the company as of Sept 30, 2020, while FIIs held 13.9 per cent, DIIs 7.7 per cent and public and others 5 per cent.
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