Muthoot Finance: Stock down 15 per cent today, impact of sharp fall in Q1 profit
The stock ‘s year low is 961 . At the same time, the stock touched the highest level of 1722 during the year. That is, the stock has broken more than 36 percent from its year’s high levels.
Muthoot Finance stock fell
There is a sharp decline in the stock of Muthoot Finance today. The stock has fallen up to 15 percent in today’s trading. Today’s sharp fall in the stock of NBFCs has been behind the weak first quarter results. Muthoot Finance Profits in the July quarter declined by 17 percent compared to the previous year. In view of the company’s forward outlook with weak results, investors have sold heavily in the stock today.
Where did the stock reach today?
Today Muthoot Finance stock opened with weakness. At the beginning of trading, the stock opened at the level of 1095 against the previous closing level of 1188. With the trading, its decline dominated and the stock reached the day’s low of 1009.8. At the time of writing the news, the stock was down by more than 12 percent, the year’s low of the stock is 961. At the same time, the stock touched the highest level of 1722 during the year. That is, the stock has broken more than 36 percent from its year’s high levels.
Stocks fall after weak results
The fall in the stock has been seen after the weak results of NBFCs. Net profit declined by 17 percent in the first quarter to Rs 802 crore. At the same time, the total income is at the level of Rs 2509 crore with a decline of 7.6 percent. At the same time, there has been a decline of 16.48 percent in net profit and 6.31 percent in total income as compared to the previous quarter.
