Muthoot Finance hits 52-week high; surges 25% in two months

The stock hit a fresh 52-week high of Rs 512, was 3% away from its record high level of Rs 526 touched on September 13, 2017, on the BSE in intra-day trade.

Shares of gold loan company Muthoot Finance hit a fresh 52-week high of Rs 512 apiece, up 1.4% on Monday. The stock has surged 25% in the past two months, on improved assets quality and expectations of healthy growth going forward. The stock is 3% away from its record high level of Rs 526 touched on September 13, 2017, on the BSE in intra-day trade.

Muthoot Finance had reported highest ever quarterly accretion in gold loans in the September quarter (Q2FY19), resulting in an all-time high loan book as well as gold stock under possession. The company’s Q2FY19 has