Shares of Muthoot Finance and Muthoot Capital Services were trading with a loss of 1-2 percent on March 8 following the death of Muthoot Group Chairman MG George Muthoot.
George Muthoot has admitted to a hospital after falling from the fourth floor of the house and was later declared dead, a senior police officer said.
"We regret to inform you of the sudden and sad demise of Shri. M G George Muthoot, Chairman & Whole Time Director of the Company, on Friday, March 5, 2021," Muthoot Finance said in the release.
As the chairman of the company, he played a pivotal role in taking Muthoot Finance a pan-India and the largest gold loan NBFC to new heights, expanding its reach across the country and even overseas especially to the Middle East.
At 1518 hours, Muthoot Finance was quoting at Rs 1,257.80, down Rs 32.05, or 2.48 percent and Muthoot Capital Services was quoting at Rs 397.65, down Rs 3, or 0.75 percent on the BSE.
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