Photo: BloombergMumbai: Gold loan companies have been among the top gainers so far this year in the BSE 500 pack. Strong investor interest in non-banking finance companies (NBFCs) has also augured well for this pack. While the BSE 500 index has rallied 11.44% year to date, Manappuram Finance Ltd and Muthoot Finance Ltd jumped 205.60% and 102.55%, respectively, in the same period. “Gold lending companies were not doing well earlier, as gold prices came down. Recovering gold prices and improving overall business condition for NBFCs has led to a significant re-rating of these stocks,” added Dua.

Source: Mint September 05, 2016 05:15 UTC