Financial Insights That Matter
** Muthoot Finance MUTHOOTFIN falls 2.4% to 2,155.6 rupees; set to snap four-day winning streak
** CEO of co’s unit, ex employee misappropriate 119.2 million rupees ($1.4 million) in gift cards from insurance cos meant for distribution to employees
** Says fraud has no financial impact on gold loans financier
** Projects notional rev loss of 312.8 mln rupees, representing estimated business that could have been generated had employees received the rewards
** Stock rated “buy” on avg, same as Shriram Finance ShriramfinWheel Display Manapuram Finance
Manabuplam rated “hold”; median PT on MUTT is 2,490.5 rupees, per data compiled by LSEG
** YTD, MUTT gains 2.9% vs SHMF, MNFL’s 9%, 9.6% rise
($1 = 87.0300 Indian rupees)
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