Muthoot Microfin is currently trading at Rs. 246.20, up by 3.70 points or 1.53% from its previous closing of Rs. 242.50 on the BSE.
The scrip opened at Rs. 248.40 and has touched a high and low of Rs. 258.00 and Rs. 241.75 respectively. So far 73368 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 280.80 on 26-Dec-2023 and a 52 week low of Rs. 196.10 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 258.00 and Rs. 239.15 respectively. The current market cap of the company is Rs. 4212.01 crore.
The promoters holding in the company stood at 55.47%, while Institutions and Non-Institutions held 28.63% and 15.90% respectively.
Muthoot Microfin has secured a corporate agent license from the Insurance Regulatory and Development Authority of India (IRDAI) that would enable it to offer tailored insurance plans to its customer base. This license strengthens the company’s commitment to financial inclusion by providing insurance coverage that addresses the risks faced by the most vulnerable segments of society. By offering cover for natural calamities and medical emergencies in addition to life insurance, Muthoot Microfin ensures a holistic approach to its customers' financial security. This initiative stems from Muthoot Microfin’s customer-first approach, which allows the company to offer both financial and insurance solutions under one roof to its 3.35 million customers.
The corporate agent license will help the company negotiate better with insurance partners and customize products to suit the needs of its BOP (Bottom of the Pyramid) customers in rural and semi-urban areas across India. With this new license, the company can offer the right insurance products to its customers while augmenting its sources of revenue and earnings.
Muthoot Microfin is primarily engaged in providing financial assistance through micro loans to women engaged in small income generating activities.
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