Muthoot Finance drops 6.94% in two days

Muthoot Finance lost 5.46% to Rs 216.30 at 12:08 IST on BSE, with the stock extending yesterday's fall triggered by poor Q3 result.

Meanwhile, the BSE Sensex was up 210.86 points, or 0.73%, to 29,216.88

On BSE, so far 69,380 shares were traded in the counter, compared with an average volume of 72,829 shares in the past one quarter.

The stock hit a high of Rs 229 and a low of Rs 216 so far during the day. The stock hit a 52-week high of Rs 234.90 yesterday, 22 January 2015. The stock hit a 52-week low of Rs 120.25 on 30 January 2014.

The stock had outperformed the market over the past one month till 22 January 2015, rising 19.54% compared with the Sensex's 4.71% rise. The scrip also outperformed the market in past one quarter, gaining 24.38% as against Sensex's 8.28% rise.

The mid-cap company has an equity capital of Rs 397.71 crore. Face value per share is Rs 10.

Muthoot Finance reported 20.5% fall in net profit to Rs 154.44 crore on 11% fall in total income to Rs 1069.25 crore in Q3 December 2014 over Q3 December 2013. The result was announced during market hours yesterday, 22 January 2015, when the stock declined 1.57% to settle at Rs 228.80. The stock fell 6.94% in two trading days from recent high of Rs 232.45 on 21 January 2015.

Muthoot Finance is the largest gold financing company in India in terms of loan portfolio. The company provides personal loans secured by gold jewellery, or gold loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements.

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