Muthoot Finance jumped 4.71% to Rs 117.80 at 14:12 IST on BSE on bargain hunting after the stock fell 6.99% in the preceding three trading sessions to Rs 112.50 on Tuesday, 3 September 2013, from a recent high of Rs 120.95 on 29 August 2013.
Meanwhile, the BSE Sensex was up 203.08 points, or 1.11%, to 18,437.74.
On BSE, 1.98 lakh shares were traded in the counter compared with average volume of 1.21 lakh shares in the past one quarter.
The stock hit a high of Rs 120.75 and a low of Rs 113 so far during the day. The stock hit a record low of Rs 73.60 on 6 August 2013. The stock hit a record high of Rs 246 on 3 January 2013.
The stock had outperformed the market over the past one month till 3 September 2013, rising 48.61% compared with the Sensex's 4.85% decline. The scrip had, however, underperformed the market in past one quarter, sliding 14.51% as against Sensex's 7.02% fall.
The mid-cap company has an equity capital of Rs 371.71 crore. Face value per share is Rs 10.
Net profit of Muthoot Finance declined 21.22% to Rs 193.89 crore on 0.9% decline in operating income to Rs 1278.85 crore in Q1 June 2013 over Q1 June 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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