Muthoot & Manappuram's Stocks Rally Amid RBI Action!

Muthoot, Manappuram Finance Surge 11% Post RBI Order on IIFL Finance

RBI cites "material supervisory concerns" prompting halt on gold loans by IIFL.
Muthoot Finance & Manappuram Finance shares rise 11% after the RBI directive to IIFL Finance.
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Competitive Landscape Boosts Muthoot, Manappuram

Despite the competition, Muthoot and Manappuram show improved gold loan yields.
Gold loan competition intensifies from banks and NBFCs like Bajaj Finance.
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Financial Outlook and Market Response

Muthoot anticipates higher borrowing costs in the near term but expects a strong 4QFY24.
Manappuram Finance's borrowing costs have risen and expected a further increase in 4QFY24.

Market Response and Outlook

Muthoot aims to reduce GS3 to 3.8% by Mar ’24, focusing on higher auctions in Q4FY24.
IIFL Financial shares plummet 20% following RBI order.
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