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Business News/ Markets / Stock Markets/  Muthoot Finance to turn ex-dividend next week worth 220%: Should you buy?
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Muthoot Finance to turn ex-dividend next week worth 220%: Should you buy?

Muthoot Finance is a large-cap firm with a market valuation of ₹41,483 Cr that operates as a leading non-banking financial company (NBFC) in the financial services industry.

Muthoot Finance has announced an equity dividend of 200.00% at a face value of ₹10, or ₹20 per share, for the fiscal year ended March 2022 or FY22.Premium
Muthoot Finance has announced an equity dividend of 200.00% at a face value of 10, or 20 per share, for the fiscal year ended March 2022 or FY22.

Muthoot Finance is a large-cap firm with a market valuation of 41,483 Cr that operates as a leading non-banking financial company (NBFC) in the financial services industry. Considering its loan portfolio, the firm is India's largest gold finance institution.

“The Board of Directors of Muthoot Finance Limited at their meeting held today at the registered office of the Company has considered and approved payment of an interim dividend of Rs. 22 (Rupees Twenty-Two) per equity share (220%). Shareholders whose names appear as on close of business hours of April 18, 2023 (a) as Beneficial owners as per the list to be furnished by the Depositories in respect of the shares held in electronic form and (b) as Members in the Register of Members of the Company in respect of shares held in physical form, would be entitled to receive the interim dividend. The interim dividend will be paid to the shareholders within 30 days from the date of declaration," said Muthoot Finance in a stock exchange filing.

Muthoot Finance has announced an equity dividend of 200.00% at a face value of 10, or 20 per share, for the fiscal year ended March 2022 or FY22. The dividend yield at the current share price of Rs. 1,034.25 is 1.94%. The company has a solid track record of dividend declarations during the past five years. Since August 16, 2012, Muthoot Finance Ltd. has issued 16 dividends, according to statistics from Trendlyne. 

On Thursday the shares of Muthoot Finance closed on the NSE at 1,034.25 apiece level, up by 0.90% from the previous close of 1,025.00 apiece level. The stock touched a 52-week-high of 1,377.60 on (12-Apr-2022) and a 52-week-low of 911.25 on (16-Mar-2023). During Q3FY23, the company recorded a promoter shareholding of 73.35%, FIIs stake of 10.00%, DIIs stake of 12.02% and a public stake of 4.62%. According to Trendlyne data, promoter stake in Muthoot Finance remained constant at 73.35% in the December 2022 quarter, while FII/FPI holdings rose from 9.93% in the September 2022 quarter to 10.00% in the December 2022 quarter, mutual fund holdings grew from 10.38% to 10.63%, and institutional investors' holdings risen from 21.69% in the Q2FY23 quarter to 22.02% in the Q3FY23 quarter. 

Commenting on the technical outlook of the stock, A R Ramachandran, Co-founder & Trainer - Tips2trades said “Even though fundamentally, Muthoot finance looks strong, FY23 margins have been impacted by aggressive competition from banks. This could impact the stock price from a short term perspective as well with 1050 acting as a strong resistance on the Daily charts. Investors should book profits at current levels and wait for a dip near support of 932 to initiate fresh buy positions."

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 15 Apr 2023, 06:27 PM IST
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