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Buy Muthoot Finance; target of Rs 1910: Hem Securities

Hem Securities is bullish on Muthoot Finances has recommended buy rating on the stock with a target price of Rs 1910 in its research report dated December 01, 2021.

December 02, 2021 / 04:22 PM IST
 
 
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Hem Securities report on Muthoot Finance


Q2FY22 saw a good growth traction compared with Q1FY22. Gold loan AUM grew 5% QoQ and 18% YoY to INR54700. Increased QoQ tonnage (178 tonnes), increased share of online gold loan customers (29.4% of total) assisted growth momentum. The total customers reached 8.8 million.


Outlook


We value the company at 14.9x FY23 EPS to arrive at the target of 1910.


For all recommendations report, click here

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first published: Dec 2, 2021 04:22 pm

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