Muthoot Finance Ltd Fundraising Approval and Q3 Results Reaction

Board approved ₹35,000 Cr raise via NCDs (private placement) for expansion. Gold loan demand is strong due to high prices, and RBI guidelines are supportive. Shares fell 12% post-Q3 on in-line earnings and 3% gold price drop; rub-off on peers like Manappuram/IIFL. Motilal Oswal Neutral (target ₹3,800).