In a recent report, Investec Securities highlighted a possible credit rating upgrade given its rising AUM
Synopsis
A part of Muthoot Pappachan Group, the company provides micro loans to women with a focus on rural areas. It had 1,508 branches in 353 districts across 18 states of India as of March 2024. Its AUM grew by 32.4% year-on-year to ₹12,193.5 crore in FY24.
ET Intelligence Group: The stock of Muthoot Microfin continues to trade below its IPO offer price of ₹291 six months after listing. However, it has gained 12% over the past month amid attractive valuation, improving asset quality, sustained traction in credit growth and geographic diversification of the loan book. Analysts expect a double-digit growth in the lender’s assets under management (AUM) over the next three years. The stock is expected
BY
ET Bureau
3 mins read, Last Updated:
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