Muthoot Finance Kerala Flood Effect
Calamity-stricken residents of Kerala could end up pledging, or selling, their gold ornaments to re-build their homes or meet exigencies arising from the worst floods in a hundred years. Muthoot Finance and Manappuram Finance, whose core business is lending against gold, and local jewelers from the state could see a rush of customers in the coming weeks.
Traditionally, Keralites splurge on gold jewelLery this time of the year, coinciding with the wedding season and Onam. Trade sources estimate countrywide jewelLery demand at 594 tonnes. Of this, Kerala alone accounted for almost 18%. Further, 60% of this demand i.e. 10.8% occurred in can be muted this September and December quarters.
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This above lines are copied from ET Now or some newspaper. But the point is - Muthoot Finance is a fundamental screaming buy for this quarter.
Technically, it is going up in a swing channel and in the lower channel with a confirmed green candle.
Traditionally, Keralites splurge on gold jewelLery this time of the year, coinciding with the wedding season and Onam. Trade sources estimate countrywide jewelLery demand at 594 tonnes. Of this, Kerala alone accounted for almost 18%. Further, 60% of this demand i.e. 10.8% occurred in can be muted this September and December quarters.
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This above lines are copied from ET Now or some newspaper. But the point is - Muthoot Finance is a fundamental screaming buy for this quarter.
Technically, it is going up in a swing channel and in the lower channel with a confirmed green candle.
Trade fermée: cible de profit atteinte
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Get trades instantly and discuss them with me at my Slack Channel @ unofficed.com/chat/
Our community is full with traders who actually trade!
Telegram: t.me/unofficed
Our community is full with traders who actually trade!
Telegram: t.me/unofficed
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.