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Hold Muthoot Finance; target of Rs 1300: ICICI Direct

ICICI Direct recommended hold rating on Muthoot Finance with a target price of Rs 1300 in its research report dated August 15, 2022.

August 16, 2022 / 05:56 PM IST
 
 
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ICICI Direct's research report on Muthoot Finance


Muthoot Finance is a leading gold financier in India with standalone AUM of Rs 56689 crore as on June 2022. It has a large footprint across India with 4617 gold lending branches • The company also has a presence in other lending segments like microfinance, housing, vehicle finance via its subsidiaries.


Outlook


We downgrade the stock from BUY to HOLD rating. We value the core business (gold loan) at ~2.1x FY24E ABV and assign Rs 31 to subsidiaries, maintaining our target price at Rs 1300 per share.


For all recommendations report, click here

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Muthoot Finance - 140822 - ic

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first published: Aug 16, 2022 05:56 pm
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