Muthoot Finance shares jump over 7% on strong Q3 results; NIM at 17.1% highest in 12 quarters

Shares of Muthoot Finance ltd jumped over 7 percent on Monday, buoyed by a strong third quarter performance. The gold finance company’s shares quoted at Rs 792.35 apiece, up 6.3 percent on BSE at 9.36 am. The stock opened at Rs 774, up over 3.5 percent from its Friday’s close of Rs 746.60. The stock surged to a new 52-week high of Rs 801.70 per share. So far this year, the stock has gained nearly 3 percent, while the one year return on the stock is more than 50 percent…

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Small finance banks start on a strong wicket: ICRA

Mumbai: Rating agency ICRANSE 3.23 % expects small finance banks (SFBs) to grow at a compounded annual growth rate of 25% to 30% led by diversified loan growth, deposit mobilisation, improving asset quality and better return on equity. The rating agency estimates that SFBs would require external capital of Rs. 4,000-6,000 crore till FY2023 for meeting the growth requirements, part of which will come through IPOs. ICRA estimates that SFBs have reported an annualised growth of 33% in the assets under management (AUM) in 9M FY2019 to Rs. 64,325 crore. These banks have been able…

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Zika virus: scientists present strong evidence of Guillain-Barré link

Findings published as experts warn that paralysing illness could overwhelm intensive care wards of Latin America Doctor treats a patient with Guillain-Barré syndrome in Cúcuta, Colombia. Photograph: Ricardo Mazalan/AP Scientists have amassed the strongest evidence yet that the Zika virus can cause the serious neurological condition Guillain-Barré syndrome, and are warning that the potential number of cases of the paralysing illness could overwhelm the intensive care wards of Latin America. The surge in the number of people with Guillain-Barré had been linked to Zika only on the basis of the…

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