Aaj Muthoot Finance, Manappuram Finance aur IIFL Finance ke shares **3%** se **6%** tak toot gaye hain. Wajah simple hai—domestic market mein sone ke daam 1-week ke low par aa gaye hain.
Sona gira toh stocks kyu hile?
Gold loan companies ka pura business model gold ki price par depend karta hai. Aaj domestic market mein 24-karat gold ka bhav girkar ₹1,45,803 (per 10 grams) ke aas-paas aa gaya hai. Jab gold price girta hai, toh in companies ka Loan-to-Value (LTV) ratio bigad jata hai. Iska matlab hai ki jo collateral (gehna) bank ke paas girvi rakha hai, uski value loan ki amount ke muqable kam ho rahi hai. Agar ye trend jari raha, toh companies ko margin calls leni pad sakti hain ya phir risk badh sakta hai.
Market mein itni chinta kyu hai?
Is girawat ke piche kuch bade reasons hain:
- Rupee ka mazboot hona: Indian Rupee ki strength aur crude oil prices ki volatility ne gold ko dabav mein daal rakha hai.
- US Federal Reserve: Market wale October 27-28 ki Fed meeting ka wait kar rahe hain. Agar interest rates badhe, toh gold aur bhi pressure mein aa sakta hai, kyunki gold ek non-yielding asset hai.
RBI aur Risk Management
Reserve Bank of India (RBI) lagatar in NBFCs ke loan books aur safety margins par nazar rakhe huye hai. Agar gold price lambe time tak niche raha, toh in companies ko apne collection methods sakht karne padenge ya phir apni lending policies badalni pad sakti hain. Filhal, market Fed ke decision aur gold ki stability par apni nazar jamaye baithe hain. Agar aap in stocks mein ho, toh management ki commentary aur gold price ke daily moves par zaroor dhyan dein.