ICICI Direct's research report on Muthoot Finance
Muthoot Finance is a leading gold financier in India with standalone AUM of Rs 56689 crore as on June 2022. It has a large footprint across India with 4617 gold lending branches • The company also has a presence in other lending segments like microfinance, housing, vehicle finance via its subsidiaries.
Outlook
We downgrade the stock from BUY to HOLD rating. We value the core business (gold loan) at ~2.1x FY24E ABV and assign Rs 31 to subsidiaries, maintaining our target price at Rs 1300 per share.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.