May 17, 2018 / 5:11 AM / 6 days ago

BUZZ-India's Muthoot Finance sinks as financing revenue dips

** Shares of Muthoot Finance Ltd fall as much as 7.6 pct to 387.60 rupees, lowest since March 26

** Stock posts biggest daily pct loss since Feb 2

** Co reports 8 pct decline in revenue from financing segment for March qtr on Wednesday; total rev falls 6 pct

** Posts 40 pct rise in net profit aided by lower expenses

** Kotak Institutional Equities cuts target price to 480 rupees from 500 rupees; says rise in NPLs is primary concern

** Expects earnings growth in core business to remain muted due to moderate loan growth offset by lower interest margins and higher credit costs - Kotak

** Of eight brokerages covering stock, seven have ‘buy’ or higher rating while one has ‘hold’ rating; median price target 515 rupees

** More than 1.7 mln shares traded vs 30-day avg volume of around 0.7 mln

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below