It is worthwhile to mention here that the RBI announcement came on 06 Aug 2020 that banks can lend up to 90% of the gold loan portfolio. It is surprising that loan to value ratio for gold loans from 75 percent to 90 percent has been increased leading to likely default on the gold loans as gold is ruling at 52 week high.
However, this is not the case to which we are pointing the fingers but is wrt to the fall seen in the gold loan providing companies basically Muthoot finance and Manappuram finance.
As you can see that both these companies are seeing a fall in the stock prices for the past 5 days which means that news has been out in the market that banks will be able to offer loans up to 90% of the gold value which will offer stiff competition to these NBFC.
May we ask SEBI to investigate the role of finance deptt and RBI who might have had led to the leak of the information as this news was out only on 06 Aug 2020 and no way anyone can get hold of it except for RBI and finance deptt. You can access enhanced loan on gold news here.
Have a look at the chart of Manappuram and Muthoot finance and it clearly shows when the information might be known to select operators who did a massive selling in these stocks.
Leakage of sensitive information is detrimental to the health of the Indian stock market and checks and balances should be in place to ensure that such things do not occur again in the future. When gold prices are rising the fall in gold NBFC companies just prior to RBI monetary policy where this announcement on gold loans is going to be made is a key point that a weak link do exist and needs to be investigated.
You can get suggestions for intraday trading and make money on a daily basis.
However, this is not the case to which we are pointing the fingers but is wrt to the fall seen in the gold loan providing companies basically Muthoot finance and Manappuram finance.
As you can see that both these companies are seeing a fall in the stock prices for the past 5 days which means that news has been out in the market that banks will be able to offer loans up to 90% of the gold value which will offer stiff competition to these NBFC.
May we ask SEBI to investigate the role of finance deptt and RBI who might have had led to the leak of the information as this news was out only on 06 Aug 2020 and no way anyone can get hold of it except for RBI and finance deptt. You can access enhanced loan on gold news here.
Have a look at the chart of Manappuram and Muthoot finance and it clearly shows when the information might be known to select operators who did a massive selling in these stocks.
Leakage of sensitive information is detrimental to the health of the Indian stock market and checks and balances should be in place to ensure that such things do not occur again in the future. When gold prices are rising the fall in gold NBFC companies just prior to RBI monetary policy where this announcement on gold loans is going to be made is a key point that a weak link do exist and needs to be investigated.
You can get suggestions for intraday trading and make money on a daily basis.
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