Sell Muthoot Finance, target price Rs 1175: Kotak Securities

Kotak Securities has sell call on Muthoot Finance with a target price of Rs 1175. The current market price of Muthoot Finance is Rs 1215.1. Time period given by analyst is Intra Day when Muthoot Finance Ltd. price can reach defined target.

Muthoot Finance Ltd., incorporated in the year 1997, is a Large Cap company (having a market cap of Rs 48693.21 Crore) operating in NBFC sector.

Muthoot Finance Ltd. key Products/Revenue Segments include Interest, Income From Sale Of Share & Securities, Service Charges, Sale of services and Dividend for the year ending 31-Mar-2021.

Financials

For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 3168.09 Crore, up 3.37 % from last quarter Total Income of Rs 3064.81 Crore and up 5.03 % from last year same quarter Total Income of Rs 3016.43 Crore. Company reported net profit after tax of Rs 1043.64 Crore in latest quarter.

Investment Rationale
Close below support levels with rising volumes on the daily chart suggests a fresh downside


Promoter/FII Holdings
Promoters held 73.37 per cent stake in the company as of 31-Mar-2022, while FIIs owned 12.13 per cent, DIIs 9.68 per cent.

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