Shares of gold loan financing firms such as Muthoot Finance and Manappuram Finance rose up to 4% on Monday after prices of the yellow metal hit a record high on MCX. The stocks of gold loan financing firms were trading in line with the broader market today.
Manappuram Finance shares climbed 4% to Rs 272.65 against the previous close of Rs 261.40 on BSE. Market cap of the firm rose to Rs 23,052 crore. The stock has gained 43 per cent since the beginning of this year but gained 26.26 per cent in one year. Total 1.04 lakh shares of the firm changed hands amounting to a turnover of Rs 2.81 crore on BSE.
Muthoot Finance shares rose 3.36% to Rs 2724.65 on BSE. Market cap of the firm climbed to Rs 1.08 lakh crore. The stock has gained 38 per cent in a year and risen 22.23 per cent in 2025. Total 0.10 lakh shares of the firm changed hands amounting to a turnover of Rs 2.80 crore on BSE.
For Manappuram and Muthoot Finance, gold loan business constitutes 50% and 98% of their total portfolio respectively.
Earlier, on the MCX, Gold October 3 contracts surged 2 per cent to a fresh high of Rs 1,05,937 per 10 grams.
Meanwhile, Sensex gained 490 pts to 80,300 and Nifty added 166 points to 24,592 in the afternoon session today.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.