This report is an updated version of report published on 12th March 2026 as on 10:12 AM IST

Record Q3FY26: Can This Gold Loan Stock Mirror Gold’s Rally? 

Company overview: Muthoot Finance Limited (NSE: MUTHOOTFIN) is a leading Indian NBFC specializing in gold-backed lending. It provides retail and business loans, housing finance, insurance, investments, and digital financial services, supported by a strong nationwide branch network. Kalkine’s Daily Report covers the Key Financial Metrics, Risks, Outlook, and Technical Analysis along with the Valuation, Target Price, and Recommendation on the stock.

Section 1.0: Key Metrics in Pictures

Based on the financial metrics outlined above, the following sections provide an in-depth fundamental and technical analysis of the stock, including key support and resistance levels, indicative stop-loss, and recommendation.

Section 2.0 Muthoot Finance Limited (NSE: MUTHOOTFIN) (‘Buy’ at INR 3,133.20, current market price per share as on 12 March 2026)

2.1 Company Details

2.2 Valuation and Technical Guidance

The stock has decreased by ~15.32% in the last one months, whereas over the past three months, stock has decreased by ~6.80%. The stock has a 52-week low and 52-week high of INR 1,965.00 and INR 4,149.50, respectively, and is currently trading above the 52-week high-low average.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an indicator nor a guarantee of future performance. 

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 12 March 2026. The reference data in this report has been partly sourced from REFINITIV. 

Note 3: Investment decisions should be made depending on an individual’s appetite for upside potential, risks, holding duration, and any previous holdings. An ‘Exit’ from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above. 

Note 4: Dividend Yield may vary as per the stock price movement.

Note 5: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice. 

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock. 

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock. 

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.