Muthoot Finance rallies 4%, hits all-time high; market cap nears Rs 1 trn

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Muthoot Finance rallies 4%, hits all-time high; market cap nears Rs 1 trn - Business Standard

Quick Summary:

Muthoot Finance is trading higher for the 3rd straight day, surging 10% after S&P Global Ratings upgraded the Long Term issuer rating of the company to 'BB+/B' from 'BB/B' with a stable outlook.

While banks have become aggressive in this lucrative segment, the rating agency believes Muthoot will retain its market position due to its extensive experience and expertise in this niche.

Muthoot benefits from strong brand recognition and a proven track record in gold loans.