Branch2 Intelligence
Muthoot Finance, Manappuram Finance, other stocks rise up to 5% as gold prices hit Rs 1.48 lakh/10 grams
Key takeaway
Gold prices hit ₹1.48 lakh/10g after weak US jobs data, boosting gold loan NBFCs.
- Step 11st-order: US jobs data miss fuels Fed rate-cut expectations, weakening the dollar and boosting gold prices globally.
- Step 22nd-order: Indian gold prices rise to ₹1.48 lakh/10g, increasing the collateral value held by gold loan NBFCs.
- Step 33rd-order: Muthoot and Manappuram shares rally up to 5% as higher collateral reduces credit risk and enables loan growth.
Source: IN:Economic Times
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