Gold prices in India have escalated significantly, hitting record levels, which is expected to support further growth for gold NBFCs such as Muthoot Finance and Manappuram Finance, according to foreign brokerage firm Jefferies. Jefferies has initiated coverage on Muthoot Finance and Manappuram Finance with a ‘Buy’ rating. It has Muthoot […]
gold loans
Investors in IIFL Finance Ltd have found some relief following the completion of the Reserve Bank of India’s (RBI) special audit. However, the damage to the company’s Q4FY24 earnings and brand image has already been done. The RBI had observed several regulatory breaches in IIFL’s gold loan portfolio, which comprised […]
Shares of gold financing companies – Muthoot Finance, and Manappuram Finance – were trading under pressure on Thursday after the Reserve Bank of India (RBI) sent the companies an advisory concerning cash disbursal of loans. The RBI has instructed Non-Banking Financial Companies (NBFCs) to strictly follow the provisions of the […]