WEEKLY REPORT OF MUTHOOT FINANCE

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Muthoot Finance stock price closed higher yesterday after the gold financing firm said its board of directors would meet on July 18 to consider the proposal for stock split. Share price of Muthoot Finance gained 4% intraday to Rs 1150 compared to the previous close.Muthoot Finance stock has gained 6% in last five days.

Muthoot Finance stock price closed higher yesterday after the gold financing firm said its board of directors would meet on July 18 to consider the proposal for stock split. Share price of Muthoot Finance gained 4% intraday to Rs 1150 compared to the previous close.Muthoot Finance stock has gained 6% in last five days.

In one year, the large cap stock has gained 79.87% and risen 50.46% since the beginning of this year. Market cap of the firm rose to Rs 45970 crore.

The stock hit all-time high of Rs 1283 on June 19, 2020 after  Muthoot Finance reported a 59% growth in Q4 profit. For quarter ended March, the firm reported standalone net profit of Rs 815 crore against Rs 512 crore in Q4FY19. Standalone loan assets stood at Rs 41611 crore in Q4 against Rs 34,246 crore as on March 31, 2019, Y-o-Y growth of 22%.During the quarter, gold loan assets increased by Rs 3,113 crore. The firm reported 51%  year-on-year increase in its consolidated net profit at Rs 3, 169 crore for the financial year ended March 31, 2020 (FY20).Stock split is a process, in which the company divides its existing shares into multiple shares to boost the liquidity of the shares.