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What is the story about?
Global brokerage firm CLSA has turned positive on gold financiers, upgrading its outlook on Muthoot Finance while maintaining a cautious stance on Manappuram Finance.
CLSA has reiterated an 'Outperform' rating on Muthoot Finance and raised its price target to ₹4,500.
The brokerage said it sees three key drivers for strong profit growth at Muthoot: rising gold prices, scope to increase loan-to-value ratios, and operating leverage as the loan book scales up.
On the back of these factors, CLSA has upgraded its FY26-FY28 consolidated PAT estimates for Muthoot Finance by 4% to 9%, driven largely by expectations of higher loan growth over the medium term.
In contrast, CLSA has maintained a 'Hold' rating on Manappuram Finance with a price target of ₹305 per share.
Muthoot Finance shares ended Tuesday's session 2.86% higher at ₹3,888. Manappuram Finance shares settled 0.36% higher at ₹307.80.
CLSA has reiterated an 'Outperform' rating on Muthoot Finance and raised its price target to ₹4,500.
The brokerage said it sees three key drivers for strong profit growth at Muthoot: rising gold prices, scope to increase loan-to-value ratios, and operating leverage as the loan book scales up.
On the back of these factors, CLSA has upgraded its FY26-FY28 consolidated PAT estimates for Muthoot Finance by 4% to 9%, driven largely by expectations of higher loan growth over the medium term.
In contrast, CLSA has maintained a 'Hold' rating on Manappuram Finance with a price target of ₹305 per share.
Muthoot Finance shares ended Tuesday's session 2.86% higher at ₹3,888. Manappuram Finance shares settled 0.36% higher at ₹307.80.
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