muthoot finance share price: Buy Muthoot Finance, target price Rs 1270: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on with a target price of Rs 1270. The current market price of Muthoot Finance Ltd. is Rs 1212.15.

Muthoot Finance Ltd., incorporated in the year 1997, is a Large Cap company (having a market cap of Rs 48612.90 Crore) operating in NBFC sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 3016.43 Crore, up 6.81 % from last quarter Total Income of Rs 2824.19 Crore and up 16.58 % from last year same quarter Total Income of Rs 2587.40 Crore. Company reported net profit after tax of Rs 1006.63 Crore in latest quarter.

Investment Rationale
Price volume breakout on daily scale along with negation of lower top – lower bottom on weekly charts.

Promoter/FII Holdings
Promoters held 73.4 per cent stake in the company as of Dec 30, 2020, while FIIs held 15.1 per cent, DIIs 7 per cent and public and others 4.5 per cent.

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