Muthoot Capital hits a 4-month high as Bnp Paribas takes a stake in Financier

By CNBCTV18.com STI (Update)

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Muthoot Capital share price: Shares in the non-banking financial firm hit a four-month high after data showed French investment firm BNP Paribas took a stake in the non-banking financial firm bank (NBFC) based in Kerala.

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To buy to sell Muthoot Cap to share

Shares of Muthoot Capital Services rose to their highest level in nearly four months on Tuesday after BNP Paribas took a stake in the Kerala-based Non-Banking Finance Company (NBFC). The French investment company has acquired a 1.5% stake in Muthoot Capital through the open market, according to exchange data.

The stock of Muthoot Capital Services – an auto financier and microfinance lender – jumped Rs 26.4 or 13.5% to Rs 222.4 each on BSE, their highest intraday level on record since May 18.

BNP Paribas Arbitrage bought the stake in the Indian company at Rs 196 per share.

In late afternoon trading, the stock held near its intraday high on Tuesday to trade at Rs 222.2 each on BSE with heavy volumes, up Rs 26.2 or 13 .4% from its previous close.

A total of 68,000 Muthoot Capital shares changed hands on the BSE compared to a daily average of 21,000 over the past two weeks, according to data from the exchange.

National venture capital firm Elevation Capital on Monday sold a 2.2% stake in Muthoot Capital through bundled deals. As of June 30, he owned 8.9% of the company through its subsidiary Elevation Capital VI FII Holdings.

(With contributions from the agency)

Carol N. Valencia