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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.


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

Broker Research
first published: Aug 16, 2022 05:56 pm
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