Muthoot Finance shares crash 10% after Q1 results. What Motilal, other brokerages said
Shares of Muthoot Finance plunged over 10% to Rs 2,767 on the BSE on Monday after India's largest gold loan financier reported slower asset growth in the June quarter.Standalone assets under management (AUM) grew 43% year-on-year (YoY) and 6% quarter-on-quarter (QoQ), while consolidated AUM rose 43% YoY and 5% QoQ. The moderation followed eight straight quarters of exceptionally strong growth driven by surging gold prices.Buy, sell or hold Muthoot Finance shares after Q1?Motilal Oswal has retained a Neutral rating on Muthoot Finance with a target price of Rs 2,850, signalling that intense riva