Muthoot Finance surges 18%, hits new high on robust March quarter results

According to analysts, the company is likely to benefit from sharp run-up in gold prices
Shares of Muthoot Finance on Thursday jumped nearly 18 per cent after the company reported a 52.4 per cent jump in consolidated net profit in March 2020 quarter.

The scrip zoomed 17.71 per cent to close at Rs 1,177.30 on the BSE.

During the day, it rallied 19.99 per cent to Rs 1,200.20 — its 52-week high. On the NSE, shares of the company jumped 16.07 per cent to settle at Rs 1,160.30 per unit.

The company's market valuation also rose by Rs 7,103.12 crore to Rs 47,214.12 crore on the BSE.

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