MG George Muthoot fell from the fourth floor of the house in Delhi and died on March 5, police have said.
Total assets under management declined to Rs 2,474 crore, including the assigned portfolio of Rs 45 crore, from Rs 2,760.3 crore, said its managing director Thomas George Muthoot.
The company attributed the poor set of numbers primarily to the troubles in the auto industry arising from the switchover to BS-VI emission norms and also the disruptions caused by the COVID-19 pandemic in the last 15 days of the quarter.
The non-banking finance company (NBFC) saw rise in bad loans amid flat credit growth and higher operating expenses.
Borrowing cost is likely to further go up by 20-30 basis points in the April-June quarter, before stabilizing in the coming quarters.
Shitij Gandhi of SMC Global Securities said if Nifty holds the higher level of 10,800 then short covering may be seen in the oversold stocks as well.
While pure consumption picks GM Breweries and VST Industries are trading at a discount to their respective sector leaders, Muthoot Capital is trading towards the higher end of the financial services spectrum.
Muthoot Capital Services is into two-wheeler loans, which accounts for 89.50 percent of its gross portfolio of Rs 1,749 crore as of end September and is present in 17 states/Union territories.
Muthoot Capital Services reported a good set of Q1 earnings. Profit has shown a rise of 36 percent. In an interview to CNBC-TV18, Madhu Alexiouse, COO of the company spoke about the results and his outlook for the company.
Mitessh Thakkar of mitesshthakkar.com is of the view that one may buy Glenmark Pharma and Muthoot Capital Services.