Muthoot Finance is currently trading at Rs. 270.00, up by 2.10 points or 0.78% from its previous closing of Rs. 267.90 on the BSE.
The scrip opened at Rs. 260.10 and has touched a high and low of Rs. 273.85 and Rs. 260.10 respectively. So far 16427 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 288.75 on 07-Jun-2016 and a 52 week low of Rs. 152.00 on 23-Sep-2015.
Last one week high and low of the scrip stood at Rs. 277.00 and Rs. 257.10 respectively. The current market cap of the company is Rs. 10870.82 crore.
The promoters holding in the company stood at 74.64%, while Institutions and Non-Institutions held 20.86% and 4.50% respectively.
Muthoot Finance has completed acquisition of Muthoot Insurance Brokers (MIBPL). The board of director of the company had approved acquisition of MIBPL by transfer of equity shares from its existing shareholders for a consideration of Rs 20 crore and to make it as a wholly owned subsidiary vide board resolution dated October 29,2015 subject to regulatory approvals. Approval for the transfer of shares has been received from Reserve Bank of India and Insurance Regulatory and Development Authority of India subsequent to which the transaction is completed.
MIBPL is an unlisted private limited company holding a licence to act as Direct Broker from IRDA since 2013. It is actively distributing both life and non-life insurance products of various insurance companies. During FY15, it has insured more than 2,92,000 lives with a premium collection of Rs 35 crore under Traditional, Term and Health products. The same has increased to 4,59,000 lives with a premium collection of Rs 49 crore in FY16.
Muthoot Finance is the largest gold financing company in India in terms of loan portfolio. The company is a Systemically Important Non-deposit taking NBFC headquartered in the southern Indian state of Kerala and with its corporate office in New Delhi.
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