News for Muthoot Finance Limited (MUTHOOTFIN.BO)

Several brokerages have upgraded the target prices of various stocks over the past month. According to Trendlyne data, 10 BSE midcap index stocks, Coforge, Persistent Systems, Lupin, Aurobindo Pharma, Muthoot Finance, and United Breweries have received up to four analysts' target price upgrades in the last month. Here is a list of these stocks: Target Price Upgrades

Bajaj Finance share price: The central bank's decision to reduce risk weights on loans to NBFCs from 125% to 100%, effective April 1, is expected to enhance credit flow to the sector. This move reverses a measure introduced in November 2023, which had raised capital requirements for banks lending to NBFCs, thereby limiting credit availability.

Among the top gainers from the Sensex pack, Bajaj Finance, IndusInd Bank, Bajaj Finserv, Tata Steel, and HDFC Bank rose by up to 2%. On the other hand, UltraTech Cement, Kotak Bank, Power Grid, and NTPC opened in the red. Sector-wise, the Nifty Bank and Financial Services indices gained 0.45% and 0.65%, respectively.

The analysis revealed that nearly 96% (255) of low beta stocks have dropped by double digits from their 52-week peak, with 5% (13 stocks) falling over 50%.

SpiceJet Q3 results: Total revenue surged 35 per cent, driven by strong passenger demand, improved yields and enhanced operational efficiency.

Muthoot Finance approved for 115 new branches by RBI, reports 21% increase in Q3 PAT to ₹1,392 crore.

Stock market update: Auto and pharma indices decline, Nifty 50 and Sensex fall, Hindalco, Tata Steel lead gainers.

Bajaj Finance leads in absolute market capitalization growth, adding Rs 1.02 lakh crore this year, while SBI Cards and Payment Services takes the top spot in percentage terms with a 30% rise. Bajaj Finances m-cap grew by 24%, while SBI Cards 30% increase added Rs 19,127 crore. Maruti Suzuki India and Bajaj Finserv outpaced SBI Card in absolute growth, with their market caps rising by Rs 60,346 crore (18%) and Rs 51,955 crore (21%), respectively, though they trailed in percentage gains.

Muthoot said that cost of funds are likely to come off only marginally and therefore he does not expect that to translate into lower lending rate.

Indian frontline indices ended in the red for the seventh day in a row with selling pressure in bank, FMCG and IT stocks. The 50-stock index Nifty 50 closed at 23,031.40, lower by 0.06% or 13.85 points while the S&P BSE Sensex closed at 76,138.97, down by 0.04% or 32.11 points.Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities sees bearish trends in Nifty.

The Nifty Realty index closed 0.81 per cent up at 846.15.

Adani Ent., Adani Ports SEZ, Hero MotoCorp, Infosys and ONGC were among the top losers on NSE in today's trade.

The Nifty Bank index closed 0.24 per cent down at 49359.85.

In the Nifty50 index, 25 stocks closed in the green, while 25 stocks ended in the red.

The Nifty Pharma index closed 1.35 per cent up at 21427.1.

In the Nifty 50 index, 25 stocks ended in the green, while 25 stocks closed in the red in today's trade.

Redington, Muthoot Finance, Dr. Agarwals Health, SBI Card and Norben Tea Exp, hit their fresh 52-week highs during the day.

In the Nifty pack, 25 stocks closed in the green, while 25 stocks ended in the red.

The Nifty Auto index closed 0.28 per cent down at 22344.3.