ICICI Securities gives Muthoot Finance buy rating, sets ₹3,070 target

Business Nov 03, 2026

ICICI Securities just gave Muthoot Finance a thumbs up with a "buy" rating and a target price of ₹3,070.

This comes after the company's strong FY26 performance, thanks to high gold prices and solid demand.

H1 AUM advanced to ₹2.1 trillion, a growth of 15.1% from the FY26 base, and they're aiming for 25% AUM growth for FY27 (fiscal year 2026-27).

Muthoot Finance expands branches, manages loans

Muthoot's smart branch expansion and careful loan management help it stay ahead in the gold loan game, even as competition heats up.

The new price target reflects steady confidence in their growth plans, backed by healthy margins and a solid business strategy.