New Delhi, Feb. 11 -- Muthoot Finance shares witnessed a decline in intra-day trading on Tuesday, February 11, despite receiving an upgrade from global brokerage firm CLSA. The downgrade came even as gold prices surged to new highs, prompting discussions on the impact of gold price movements on the company's future performance.

CLSA upgraded Muthoot Finance's rating to 'Outperform' from its previous 'Hold' stance while raising the target price to Rs.2,400 per share. The brokerage firm highlighted that gold loan momentum remained strong throughout the first nine months of FY25 (9MFY25), with banks reporting a 70 percent year-on-year surge in this segment as of December 2024. CLSA noted that the growth was led by the State Bank of India (S...