Muthoot Finance Ltd.'s share price hit a record high, and IIFL Finance Ltd. emerged as a top gainer among gold loan stocks. These stocks are continuing their rally as the Reserve Bank of India raised the loan-to-value ratio for lending against gold to small borrowers with a ticket size of up to Rs 2.5 lakh to 85% from 75% earlier.
Muthoot Finance will likely benefit the most because the lender has 63% of its loan book below Rs 3 lakh.
Positive sentiment for gold loan companies after RBI revised the loan-to-value (LTV) ratio for gold loans under Rs 2.5, said Vikas Jain, head of research at Reliance Securities.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The move is to take effect after the Department of Financial Services suggested exempting borrowers availing loans under Rs 2 lakh.
The market cap of these stocks advanced Rs 3,250.40 crore to Rs 14.42 lakh crore as of 10:16 a.m.
IIFL Finance Ltd. share price rose the most compared to other stocks. The share price rose 5.42% to Rs 475.20 apiece, the highest level since June 9. The share price has been rising for five days in a row.
Muthoot Finance Ltd. rose 3.34% to a record high of Rs 2,527.80 apiece. The stock rose for seven sessions in a row.
Manappuram Finance Ltd.'s share price rose 2.60% so far in Monday's session.
Meanwhile, Axis Gold fell 3.39% to Rs 79 apiece so far today.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.