Gold Duty Hike Lifts Loan Stocks As Shares Surge 8%
Manappuram Finance and Muthoot Finance shares surge 8% following a gold duty hike, according to Goodreturns.
A recent gold duty hike has triggered a sharp rally in gold loan stocks, with shares of Manappuram Finance and Muthoot Finance surging by 8 percent, according to Goodreturns.
Market Reaction
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The policy adjustment impacting gold duties immediately shifted investor focus toward major lending institutions backed by precious metal collateral. Both Manappuram Finance and Muthoot Finance recorded substantial equity gains amid the broader sector movement.
Key facts
- Manappuram Finance shares surged 8 percent
- Muthoot Finance shares surged 8 percent
- The rally was triggered by a gold duty hike
Source: news.google.com
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