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Gold financing companies look good in these trying times

August 21, 2019 / 12:29 PM IST
Gold financing companies look good in these trying times

Madhuchanda Dey Moneycontrol Research Highlights: • Good quarterly performance by Muthoot and Manappuram • Muthoot had decent gold loan growth; muted rise for Manappuram • Both cos well-placed with respect to funding • No asset quality stress • Value unlocking potential from non-gold businesses in future • Attractive valuation for a high return business FY19 was a year of revival for the two leading gold financing companies, post a very tepid FY18. The momentum of strong performance continued in Q1 FY20 and the good...

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