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    Are gold financing companies losing their lustre?

    Manappuram remains a great stock for risk takers. For risk averse investors, satisfied with moderate growth, any correction is an opportunity to buy Muthoot.

    Madhuchanda Dey
    August 27, 2020 / 09:05 AM IST
    Are gold financing companies losing their lustre?

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Madhuchanda Dey Moneycontrol Research Highlights - Gold financing is a highly insulated pocket of lending - Muthoot and Manappuram have smartly rallied from March lows - Muthoot a winner so far because of low share of non-gold businesses - For Manappuram asset quality performance of non-gold subsidiaries a key concern - Manappuram valued at a discount and could rally if covid scare wanes, ideal for a risk taker - Muthoot to offer moderate return from hereon, buy on correction Surging gold prices and short tenure fully secured loans have...

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