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Muthoot, Manappuram: Key levels to track as gold loan lenders stocks slide

Muthoot, Manappuram Finance outlook: Shares of gold loan lenders could see limited downside in the near-term, as broader trend remain up; charts show.

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Rex Cano Mumbai

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Shares of Gold loan lenders, namely Muthoot Finance and Manappuram Finance tanked up to 9 per cent in Thursday's intra-day trades; day after the Reserve Bank of India (RBI) cautioned them against breaching the Rs 20,000-cap on cash gold loan disbursals.

On Wednesday, the RBI drew the attention of gold loan financiers asking them to adhere to the Income Tax act, when it comes to cash loans.

Muthoot Finance tumbled 8.8 per cent (Rs 1510); while Manappuram Finance shed 8.3 per cent (Rs 165.15) on the BSE in trades so far. READ MORE

Meanwhile, here's a technical check

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First Published: May 09 2024 | 11:33 AM IST

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