Muthoot, Manappuram Fin: Charts show up to 12% upside in gold financiers

Muthoot Finance is headed towards Rs 1,700 levels

Shares of gold financiers traded up to 8 per cent higher at the bourses on Thursday, as gold hovered near five-month price peak. Muthoot Finance rallied 8 per cent to hit a new high of Rs 1,533 on the BSE in intra-day trade after the firm reported a strong set of numbers for the quarter ended March (Q4FY21) with healthy business growth and improved asset quality.

Among other individual stocks, CSB Bank rose 3 per cent and Manappuram Finance gained 1.6 per cent, in intra-day deals. In comparison, the benchmark S&P BSE Sensex traded 0.38 per cent higher at 52,050 levels,