Muthoot Finance shares rally on large buying

BL Internet Desk | Updated on November 14, 2019

Muthoot Finance shares surged on the stock exchanges today driven by huge volumes traded in the counter. On the BSE, the stock gained Rs 58 or 9% to Rs 708.50. The stock witnessed six-fold increase in volumes at 1.42 lakh shares when compared to the two-week average volume of 19,000 shares.

On the NSE, the stock rose nearly 9% to Rs 708 and volumes traded were to the tune of 33.17 lakh shares as at 12 noon.

Recently, Muthoot Finance has successfully priced a $450 million Fixed Rate Senior Secured issuance in 144A / Reg S format for a 3 year tenor at 6.125 per cent.

It said the proceeds will be used for permitted purposes including onward lending in accordance with RBI’s ECB guidelines and other applicable laws.

Published on November 14, 2019

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