Muthoot Finance shares zoom 7% after Q2 profit jump 21% YoY; Morgan Stanley lifts target price to Rs 1,600

Muthoot Finance reported a 21% increase in consolidated net profit for Q2, reaching Rs 1,321 crore. This growth was driven by a 37% rise in total revenue, reaching Rs 4,929 crore. Consequently, Morgan Stanley upgraded the company to 'Equal-weight' from 'Underweight', raising the target price to Rs 1,600 from Rs 1,430.