“The valuation of the stocks is reasonable, though still not cheap. The relative premium to the region has halved from a record peak and the returns would be driven by 17%/15% earnings growth in 2023/24. Returns will likely be backloaded,” it added.
Muthoot Finance, Manappuram, other gold financier stocks jump up to 4% as gold prices rise above Rs 1.58 lakh/10 grams
Shares of gold loan companies Muthoot Finance, Manappuram Finance and IIFL Finance rose as much as 4% as gold prices surged following the US Treasury’s