Muthoot Finance drops on profit booking

Muthoot Finance lost 6.68% to Rs 163.40 at 11:21 IST on BSE on profit booking after recent sharp rally.

Meanwhile, the BSE Sensex was down 95.52 points, or 0.47%, to 20,352.97

On BSE, so far 2.21 lakh shares were traded in the counter compared with average volume of 1.47 lakh shares in the past one quarter.

The stock hit a high of Rs 177.60 and a low of Rs 152.20 so far during the day. The stock hit a record low of Rs 73.60 on 6 August 2013. The stock hit a 52-week high of Rs 222 on 18 February 2013.

The stock had outperformed the market over the past one month till 12 February 2014, rising 26.38% compared with the Sensex's 1.49% fall. The scrip had also outperformed the market in past one quarter, gaining 57.46% as against Sensex's 0.82% rise.

The mid-cap company has an equity capital of Rs 371.71 crore. Face value per share is Rs 10.

Shares of Muthoot Finance were on a roll recently, surging 32.65% in four trading days to Rs 175.10 on 12 February 2014 from a recent low of Rs 132 on 6 February 2014.

Muthoot Finance's net profit fell 28.1% to Rs 194.25 crore on 12% decline in total income to Rs 1200.75 crore in Q3 December 2013 over Q3 December 2012.

Headquartered in Kerala, 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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