&w=3840&q=100)
Muthoot Finance rallies 10% in 2 days, mcap crosses ₹1 trillion; here's why
RBI's revised guidelines are structurally positive for small-ticket credit lenders like Muthoot and Manappuram Finance, believe market analysts.
Mumbai
Listen to This Article
Share price movement of gold finance companies today
Shares of gold finance companies like Muthoot Finance (₹2,523.75) and Manappuram Finance (₹253.90) were trading higher for the second straight day, hitting new highs on the BSE in Monday's intra-day trade. These stocks were up in the range of 2 per cent to 3 per cent in intra-day deals.
In the past two trading days, the stock prices of gold finance companies have rallied up to 10 per cent after the Reserve Bank of India (RBI) on Friday issued its final rules on loans against gold collateral, detailing

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
26 minutes ago
- Time of India
United Breweries receives Rs 18.60 cr GST order
Liquor major United Breweries on Wednesday said that the company has received orders and demand notices from the Kerala State Goods & Services Tax Department , Palakkad. The demand was raised alleging non-payment of turnover tax on the sale of beer, the company said in an exchange filing. The total tax demand stands at Rs 18.60 crore plus applicable interest and pertains to FY 2022-23 and 2023-24. United Breweries shares were trading at Rs 2059.85 apiece on the BSE, down 0.26 per cent in the final session of Wednesday. The maker of Kingfisher beer said that it has made adequate provision in the financials for the above demand, hence it will not have any material impact. "The Company is exploring appropriate legal remedies against the said orders," United Breweries said.


Mint
an hour ago
- Mint
Govt to launch nationwide drive to return unclaimed bank deposits, dividends and policies
New Delhi: The central government is gearing up to launch a sweeping drive across 500 districts to return unclaimed financial assets, ranging from dormant bank deposits and unpaid dividends to lapsed insurance policies and pension funds, to their rightful owners, a person familiar with the matter told Mint. The initiative was proposed by finance minister Nirmala Sitharaman during the 29th meeting of the Financial Stability and Development Council (FSDC) held in Mumbai on Tuesday. The meeting was attended by senior officials from the Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi), Ministry of Corporate Affairs (MCA), Insurance Regulatory and Development Authority of India (Irdai), and Pension Fund Regulatory and Development Authority (PFRDA). As part of the plan, regulators have agreed to hold coordinated outreach camps at district headquarters to help citizens claim these unclaimed assets, the person said, requesting anonymity. To simplify financial access, the council also decided to implement a unified Know Your Customer (KYC) framework, which is expected to be completed by the end of the current financial year (FY26). 'While all regulators will follow common KYC norms in general, individual regulators may include additional sector-specific requirements if needed. Standardised KYC will enhance ease of living,' the person said. 'The objective is to enhance ease of living for citizens and simplify financial access.' Spokespersons for the ministry of finance, RBI, Sebi, MCA, Irdai, and PFRDA did not respond to emailed queries. During Tuesday's meeting, Sitharaman called for expedited efforts to return unclaimed financial assets and pushed for streamlining the KYC process to improve user experience across the financial system. The FSDC also reviewed India's macro-financial stability and preparedness, and discussed the need to bolster cyber resilience in the financial sector. 'In light of the analysis of cybersecurity regulations, sectoral preparedness, and the recommendations of the Financial Sector Assessment Programme (FSAP) 2024-25, the FSDC considered strengthening the cyber resilience framework of the Indian financial sector through a financial sector-specific cybersecurity strategy,' the finance ministry said in a statement. The council also discussed the implementation of earlier decisions and Budget announcements, with a focus on regulatory efficiency, investor onboarding, and return of unclaimed assets.


Time of India
an hour ago
- Time of India
Modi 3.0 has got inflation & growth right but jobs, land reforms are still a challenge
Narendra Modi government completes 11 years with strong economic growth. Inflation is under control and forex reserves are ample. However, job creation and private investment remain concerns. Experts say land and labor reforms are crucial. Political stability may help revisit reforms. Free trade agreements could pose challenges without reforms. The government needs to address these issues. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads What helped? Lower oil prices, fiscal discipline Private investment and jobs remain pain points Reforms on hold, but political stability may help Tired of too many ads? Remove Ads As Prime Minister Narendra Modi enters in his 12th year leading the government, India's economy stands on solid macroeconomic foundations, but economists warn that generating jobs and reviving private investment will be key challenges in the years ahead, TOI has GDP growth averaging 6.2 per cent over the past 11 years (2014-15 to 2024-25), and inflation largely within the Reserve Bank of India 's (RBI) comfort zone, the government has pointed to a decade of fiscal prudence and economic stability. If the distortions of the COVID-19 pandemic years (2020-21 contraction and 2021-22 rebound) are excluded, the average growth rate stands at a healthier 7.1 per though, the World Bank has brought down India's growth projection at a steady 6.3 per cent, New Delhi continues to be the fastest growing economy in the world, ready to get past the growing global uncertainties.'The economy delivered an average growth of 6.2% and an inflation rate of 5% over the last 11 years, despite the pandemic,' TOI quoted Crisil chief economist DK Joshi as saying. 'The economy is currently in a healthy shape with inflation under control, corporates and banks having healthy balance sheets, a low current account deficit, and ample forex reserves. Rains and crude oil prices, which are luck factors, are expected to be favorable this year. We expect India's GDP to grow at 6.5% in fiscal 2026, with risks tilted to the downside due to weak global prospects amid heightened uncertainty.'Inflation during the Modi years averaged 5 per cent, compared with 8.1 per cent under the previous UPA government. While part of this can be attributed to better food price management and more responsive supply chains, economists also credit global factors, particularly lower crude oil June 10, 2014, when Modi took office, the Indian crude oil basket cost $107 per barrel (Rs 6,331 per barrel at Rs 59.26/$). Eleven years later, it stood at $67.38 per barrel or Rs 5,711 at Rs 85.60/$, a drop of nearly 11% in rupee Sanyal, chief economist and head of research at Bandhan Bank , highlighted the Centre's cautious approach to spending.'India demonstrated exemplary commitment to fiscal prudence and discipline over the last one decade despite the unprecedented Covid shock. Accordingly, India's public debt profile turns out to be a strong advantage today, much in contrast to the current global trend. Lower public debt, along with better anchored inflation and current account deficit, political stability and strong domestic demand amidst the current uncertain global economic environment, has enormously enhanced India's attractiveness as a preferred investor destination over the past decade.'Despite the macroeconomic optimism, the biggest concern going forward is the lack of private sector investment and sluggish job creation. Corporates are yet to expand capacity in a meaningful way, a move seen as essential to creating new jobs, particularly in the organised say the government must revive key reforms to unlock private capital. Land acquisition laws and labour flexibility have long been seen as barriers to business investment. Early efforts in 2014 to ease land acquisition rules met with political backlash and were shelved. On labour, the government passed four major codes, but has yet to notify them, citing delays from opposition-led and the rapid rise of AI have further complicated job creation, especially in sectors where automation is replacing entry-level the BJP reliant on coalition partners after the recent election, bold reforms like strategic disinvestment and asset monetisation, key tools for funding capital expenditure, have been pushed to the back burner. However, a surge in political confidence post-election may now allow the government to revisit these has been negotiating several free trade agreements , which are expected to bring down tariffs. Experts warn that unless land and labour reforms are addressed in parallel, Indian industry may struggle to compete under these FTAs.(With inputs from TOI)