Views of Mr. George Alexander Muthoot, MD, Muthoot Finance on RBI announcement today

"We welcome the RBI announcement to cut the repo rate by 40 bps which will infuse liquidity into the system in such challenging times. Also, the reduction in reverse repo rates will discourage banks to park idle money with RBI and lend further.

We appreciate the decision of extending the moratorium by three months thereby providing the much needed relief to the borrowers. It will help in reducing the repayment pressure and provide necessary time to analyze the cash flow status. We believe RBI measures will aid in restoring the financial health of the economy."

Shares of MUTHOOT FINANCE LTD. was last trading in BSE at Rs.806 as compared to the previous close of Rs. 826.45. The total number of shares traded during the day was 70479 in over 3221 trades.

The stock hit an intraday high of Rs. 830.95 and intraday low of 778. The net turnover during the day was Rs. 56415878.

Source : Equity Bulls

Keywords