Surge in Cash-for-Gold Lender Opens Path to MSCI India Gauge
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An astounding rally in the shares of Muthoot Finance Ltd. has made the lender big enough to be added to the MSCI India Index, analysts say.
Shares of India’s largest cash-for-gold lender have surged 71% this year, the third-biggest gain on a gauge of the nation’s top 200 firms. The company is now valued at $7 billion, a size that may spur MSCI Inc. to include the stock in its gauge at the quarterly review due in August, according to Edelweiss Financial Services Ltd. and Target Investing.