Gold finance stocks could be a less risky way to play formalisation theme

CLSA initiated coverage on both Muthoot Finance and Manappuram Finance with 'buy' ratings and projected 24 per cent and 33 per cent upside, respectively, over the next 12 months. “Such high profitability with low balance sheet risk justifies a high PB multiple,” CLSA said.

First published here: Gold finance stocks could be a less risky way to play formalisation theme