{"id":311497,"date":"2026-10-15T17:24:18","date_gmt":"2026-10-15T11:54:18","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=311497"},"modified":"2026-10-15T17:24:18","modified_gmt":"2026-10-15T11:54:18","slug":"gold-stocks-to-watch-multibagger-potential","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/","title":{"rendered":"3 Top Gold Stocks to Watch for Future Multibagger Potential: Muthoot Finance, Manappuram Finance and IIFL Finance"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Muthoot Finance Rs 2,600. Manappuram Finance Rs 323.40. IIFL Finance Rs 598. Market caps from Rs 25,393 crore to Rs 1.04 lakh crore. Data as of 15 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Muthoot Finance, Manappuram Finance and IIFL Finance are the 3 picks in this gold stocks watchlist, with market caps between Rs 25,393 crore and Rs 1.04 lakh crore. Muthoot Finance stands out for the highest return on equity at 28.01%, while Manappuram Finance offers the strongest latest-quarter profit growth at 341.44%. PE ratios run from 9.06 to 21.12, so compare each one with its industry PE before investing. All figures are as of 15 October 2026.<\/p>\n<\/p><\/div>\n<p>Gold stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Muthoot Finance, Manappuram Finance and IIFL Finance meet that test, with market caps from Rs 25,393 crore to Rs 1.04 lakh crore and Muthoot Finance offering the highest return on equity at 28.01%. Household gold is a large pool of collateral, and gold loan companies convert it into quick credit, with loan books that tend to grow when gold prices are firm.<\/p>\n<p>This list covers listed gold loan lenders with complete, verifiable financials, ranked by market capitalisation, and it treats gold-linked finance as the listed way to play the metal. Not every name here is a largecap, so the list takes the leading companies of the sector by market capitalisation. Investors screening gold stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 15 October 2026 and are drawn from NSE and BSE data and company filings.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=gold-stocks\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#What_Are_Gold_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\" title=\"What Are Gold Stocks and Why Do They Attract Multibagger Interest?\">What Are Gold Stocks and Why Do They Attract Multibagger Interest?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#Gold_Stocks_at_a_Glance_Price_Market_Cap_PE_ROE_and_Price_to_Book\" title=\"Gold Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book\">Gold Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#Muthoot_Finance_2736_Profit_CAGR_Since_FY22\" title=\"Muthoot Finance: 27.36% Profit CAGR Since FY22\">Muthoot Finance: 27.36% Profit CAGR Since FY22<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#Manappuram_Finance_Quarterly_Profit_Up_34144\" title=\"Manappuram Finance: Quarterly Profit Up 341.44%\">Manappuram Finance: Quarterly Profit Up 341.44%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#IIFL_Finance_Revenue_Up_3064_in_FY26\" title=\"IIFL Finance: Revenue Up 30.64% in FY26\">IIFL Finance: Revenue Up 30.64% in FY26<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#Gold_Stocks_Financial_Comparison_on_Growth_and_Margins\" title=\"Gold Stocks: Financial Comparison on Growth and Margins\">Gold Stocks: Financial Comparison on Growth and Margins<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#Institutional_Holding_in_Muthoot_Finance_Manappuram_Finance_and_IIFL_Finance\" title=\"Institutional Holding in Muthoot Finance, Manappuram Finance and IIFL Finance\">Institutional Holding in Muthoot Finance, Manappuram Finance and IIFL Finance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#Risks_to_Weigh_in_Gold_Stocks\" title=\"Risks to Weigh in Gold Stocks\">Risks to Weigh in Gold Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#How_to_Choose_Between_Gold_Stocks\" title=\"How to Choose Between Gold Stocks\">How to Choose Between Gold Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#Frequently_Asked_Questions_on_Gold_Stocks_to_Watch\" title=\"Frequently Asked Questions on Gold Stocks to Watch\">Frequently Asked Questions on Gold Stocks to Watch<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#Which_are_the_best_gold_stocks_to_watch_for_multibagger_potential\" title=\"Which are the best gold stocks to watch for multibagger potential?\">Which are the best gold stocks to watch for multibagger potential?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#Is_Muthoot_Finance_a_good_stock_for_long-term_investors\" title=\"Is Muthoot Finance a good stock for long-term investors?\">Is Muthoot Finance a good stock for long-term investors?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#Can_IIFL_Finance_become_a_multibagger_from_here\" title=\"Can IIFL Finance become a multibagger from here?\">Can IIFL Finance become a multibagger from here?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#What_is_the_market_cap_of_Muthoot_Finance_Manappuram_Finance_and_IIFL_Finance\" title=\"What is the market cap of Muthoot Finance, Manappuram Finance and IIFL Finance?\">What is the market cap of Muthoot Finance, Manappuram Finance and IIFL Finance?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#What_are_the_risks_of_investing_in_gold_stocks\" title=\"What are the risks of investing in gold stocks?\">What are the risks of investing in gold stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#Is_Muthoot_Finance_trading_below_its_industry_PE\" title=\"Is Muthoot Finance trading below its industry PE?\">Is Muthoot Finance trading below its industry PE?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/gold-stocks-to-watch-multibagger-potential\/#How_much_do_institutions_hold_in_Muthoot_Finance_Manappuram_Finance_and_IIFL_Finance\" title=\"How much do institutions hold in Muthoot Finance, Manappuram Finance and IIFL Finance?\">How much do institutions hold in Muthoot Finance, Manappuram Finance and IIFL Finance?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Gold_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\"><\/span><strong>What Are Gold Stocks and Why Do They Attract Multibagger Interest?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Gold stocks in this list are non-banking lenders that give loans against household gold. The collateral is physical gold held at branches, so loans are quick to process, and a higher gold price lifts the value of the pledged collateral and the size of each loan.<\/p>\n<p>A larger share of gold lending moving to organised lenders, wide branch networks and digital loan products support growth. Lenders with strong asset quality and steady margins are the ones investors check first when comparing gold stocks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Gold_Stocks_at_a_Glance_Price_Market_Cap_PE_ROE_and_Price_to_Book\"><\/span><strong>Gold Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Prices are as of 15 October 2026, mid-session. Muthoot Finance combines the lowest PE of the group, 9.06, with the highest return on equity, 28.01%.<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">PE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Industry PE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">ROE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Price to Book<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">52-Week Range (Rs)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/muthootfin\/muthoot-finance-ltd-share-price-today\">Muthoot Finance<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2,600<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,03,780<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9.06<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.97<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">28.01%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2.56<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2,550.00 to 4,149.50<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/manappuram\/manappuram-finance-ltd-share-price-today\">Manappuram Finance<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">323.40<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">30,528<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">21.12<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.97<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">6.25%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1.97<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">245.15 to 381.55<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/iifl\/iifl-finance-ltd-share-price-today\">IIFL Finance<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">598<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">25,393<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">11.26<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.97<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">11.93%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1.82<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">409.10 to 705.00<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Muthoot_Finance_2736_Profit_CAGR_Since_FY22\"><\/span><strong>Muthoot Finance: 27.36% Profit CAGR Since FY22<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Muthoot Finance is India&#8217;s largest gold loan NBFC by loan assets, with a branch network across the country. It reported FY26 total income of Rs 31,263.41 crore, up 54.27% year on year, and net profit of Rs 10,606.87 crore, up 98.17%. Net profit has compounded at 27.36% a year since FY22, while total income has grown 26.42% a year.<\/p>\n<p>In the June 2026 quarter, total income rose 34.48% to Rs 8,694.81 crore and net profit grew 43.08% to Rs 2,824.84 crore. The share price has gained 66.76% over five years. Foreign investors raised their holding from 10.84% in June 2025 to 11.61% in June 2026. The stock trades at a PE of 9.06 against an industry PE of 17.97, below the sector average, with a return on equity of 28.01%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Manappuram_Finance_Quarterly_Profit_Up_34144\"><\/span><strong>Manappuram Finance: Quarterly Profit Up 341.44%<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Manappuram Finance is a major gold loan NBFC that also runs microfinance and vehicle finance businesses. It reported FY26 total income of Rs 9,524.70 crore and net profit of Rs 993.16 crore. Total income has compounded at 11.66% a year since FY22.<\/p>\n<p>The stock trades at a PE of 21.12 against an industry PE of 17.97. In the June 2026 quarter, total income rose 34.23% to Rs 3,040.33 crore and net profit grew 341.44% to Rs 584.77 crore. The share price has gained 63.83% over five years and 11.86% over the past year. Domestic institutions raised their holding from 11.14% in December 2025 to 17.55% in September 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"IIFL_Finance_Revenue_Up_3064_in_FY26\"><\/span><strong>IIFL Finance: Revenue Up 30.64% in FY26<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>IIFL Finance is a diversified NBFC with a large gold loan, home loan and microfinance portfolio. It reported FY26 total income of Rs 13,373.83 crore, up 30.64% year on year, and net profit of Rs 1,816.70 crore, up 214.22%. Net profit has compounded at 11.20% a year since FY22, while total income has grown 17.47% a year.<\/p>\n<p>In the June 2026 quarter, total income rose 32.53% to Rs 3,921.88 crore and net profit grew 160.11% to Rs 713.13 crore. The share price has gained 109.22% over five years and 18.12% over the past year. The stock trades at a PE of 11.26 against an industry PE of 17.97, below the sector average.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Gold_Stocks_Financial_Comparison_on_Growth_and_Margins\"><\/span><strong>Gold Stocks: Financial Comparison on Growth and Margins<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares scale and growth across these gold stocks. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Total Income (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Net Profit (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">4-Year Income CAGR<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Latest Quarter Income Growth<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Latest Quarter Profit Growth<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Muthoot Finance<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">31,263.41<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">10,606.87<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">26.42%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">34.48%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">43.08%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Manappuram Finance<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9,524.70<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">993.16<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">11.66%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">34.23%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">341.44%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">IIFL Finance<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">13,373.83<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,816.70<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.47%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">32.53%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">160.11%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these gold stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Institutional_Holding_in_Muthoot_Finance_Manappuram_Finance_and_IIFL_Finance\"><\/span><strong>Institutional Holding in Muthoot Finance, Manappuram Finance and IIFL Finance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Institutional holding shows who is backing these gold stocks alongside the promoter. The table uses the latest reported quarter for each. Manappuram Finance has the deepest institutional backing, with FII and DII together holding 38.59% as of September 2026. Domestic institutions increased their holding over the past year in Manappuram Finance (from 11.14% to 17.55%).<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Promoter<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">FII<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">DII<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Public<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Quarter<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Muthoot Finance<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">73.35%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">11.61%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">10.76%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4.29%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">June 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Manappuram Finance<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">41.66%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">21.04%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.55%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">19.76%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">September 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">IIFL Finance<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">24.76%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">25.64%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">7.85%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">41.75%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">September 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Weigh_in_Gold_Stocks\"><\/span><strong>Risks to Weigh in Gold Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Being careful with gold stocks means looking at what can slow the story as well as what can speed it up. Four points matter most:<\/p>\n<ul>\n<li>Gold loan books are sensitive to the gold price, so a sharp move in the metal can change loan values and auction recoveries.<\/li>\n<li>Regulation on loan to value ratios and lending practices can alter growth plans.<\/li>\n<li><strong>Valuation:<\/strong> Manappuram Finance trades at a PE of 21.12 against an industry PE of 17.97, so earnings need to keep growing to support the price.<\/li>\n<li><strong>Concentration:<\/strong> Holding all 3 names puts the allocation in one sector, so size each position to match your risk appetite.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Choose_Between_Gold_Stocks\"><\/span><strong>How to Choose Between Gold Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Picking from gold stocks comes down to four checks, applied in order.<\/p>\n<ol>\n<li>Check asset quality and net interest margin first, then return on equity and price to book. Debt-to-equity does not apply to lenders.<\/li>\n<li>Compare each PE with the industry PE (17.97) and ask whether the growth rate justifies any gap.<\/li>\n<li>Track assets under management, net interest margin and price to book to compare lender quality.<\/li>\n<li>Stagger entries across quarters and review institutional holding every reporting season.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Muthoot Finance, Manappuram Finance and IIFL Finance live prices.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among gold stocks, Muthoot Finance stands out for the highest return on equity at 28.01%, Manappuram Finance for the strongest latest-quarter profit growth at 341.44% and IIFL Finance for the biggest five-year price gain at 109.22%. Which one suits a portfolio depends on how much valuation risk it can carry, so staggering entries and reviewing each quarterly result is a sound habit. Investors comparing gold stocks should rank them on growth, financial strength and the price paid, and anyone who wants personalised guidance can consult a SEBI-registered advisor before acting.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_on_Gold_Stocks_to_Watch\"><\/span><strong>Frequently Asked Questions on Gold Stocks to Watch<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_gold_stocks_to_watch_for_multibagger_potential\"><\/span><strong>Which are the best gold stocks to watch for multibagger potential?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Muthoot Finance, Manappuram Finance and IIFL Finance are the 3 names this list highlights, with market caps of Rs 1,03,780 crore, Rs 30,528 crore and Rs 25,393 crore respectively. Muthoot Finance is notable for the highest return on equity at 28.01%. Manappuram Finance stands out for the strongest latest-quarter profit growth at 341.44%. IIFL Finance offers the biggest five-year price gain at 109.22%. These are watchlist names for gold stocks, not recommendations, so match each one to your own risk profile and time horizon.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Muthoot_Finance_a_good_stock_for_long-term_investors\"><\/span><strong>Is Muthoot Finance a good stock for long-term investors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Muthoot Finance has a return on equity of 28.01%, a PE of 9.06 against an industry PE of 17.97 and a market cap of Rs 1,03,780 crore. Net profit has compounded at 27.36% a year since FY22, and FY26 revenue rose 54.27% while June 2026 quarter net profit grew 43.08%. Long-term returns in gold stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Can_IIFL_Finance_become_a_multibagger_from_here\"><\/span><strong>Can IIFL Finance become a multibagger from here?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> IIFL Finance has already gained 109.22% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in gold stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 11.20% a year since FY22, and FY26 revenue rose 30.64%. At a PE of 11.26 against an industry PE of 17.97, valuation should be checked against that growth before investing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_market_cap_of_Muthoot_Finance_Manappuram_Finance_and_IIFL_Finance\"><\/span><strong>What is the market cap of Muthoot Finance, Manappuram Finance and IIFL Finance?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of 15 October 2026, Muthoot Finance has a market cap of Rs 1,03,780 crore, Manappuram Finance has a market cap of Rs 30,528 crore and IIFL Finance has a market cap of Rs 25,393 crore. Muthoot Finance is the largest of the group. Market cap changes daily with the share price, so check the latest figure on the Univest Screener or on NSE before taking a decision on gold stocks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_gold_stocks\"><\/span><strong>What are the risks of investing in gold stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are gold price volatility, regulation and competition from banks. Sharp changes in gold prices affect collateral values, and RBI rules on gold lending can change growth plans. Lenders with wide branch networks and diversified loan books are better placed. Manappuram Finance trades at a PE of 21.12 against an industry PE of 17.97, so earnings growth needs to hold up.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Muthoot_Finance_trading_below_its_industry_PE\"><\/span><strong>Is Muthoot Finance trading below its industry PE?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Muthoot Finance trades at a PE of 9.06 against an industry PE of 17.97. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (net profit has compounded at 27.36% a year since FY22 and FY26 revenue rose 54.27%) and balance sheet strength before drawing a conclusion.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_do_institutions_hold_in_Muthoot_Finance_Manappuram_Finance_and_IIFL_Finance\"><\/span><strong>How much do institutions hold in Muthoot Finance, Manappuram Finance and IIFL Finance?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of the latest reported quarter, FII and DII together hold 22.37% of Muthoot Finance (11.61% and 10.76%), 38.59% of Manappuram Finance (21.04% and 17.55%) and 33.49% of IIFL Finance (25.64% and 7.85%). Rising institutional holding is a useful signal in gold stocks, though it should be read with earnings trends rather than on its own.<\/p>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best gold stocks to watch for multibagger potential?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Muthoot Finance, Manappuram Finance and IIFL Finance are the 3 names this list highlights, with market caps of Rs 1,03,780 crore, Rs 30,528 crore and Rs 25,393 crore respectively. Muthoot Finance is notable for the highest return on equity at 28.01%. Manappuram Finance stands out for the strongest latest-quarter profit growth at 341.44%. IIFL Finance offers the biggest five-year price gain at 109.22%. These are watchlist names for gold stocks, not recommendations, so match each one to your own risk profile and time horizon.\"}},{\"@type\":\"Question\",\"name\":\"Is Muthoot Finance a good stock for long-term investors?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Muthoot Finance has a return on equity of 28.01%, a PE of 9.06 against an industry PE of 17.97 and a market cap of Rs 1,03,780 crore. Net profit has compounded at 27.36% a year since FY22, and FY26 revenue rose 54.27% while June 2026 quarter net profit grew 43.08%. Long-term returns in gold stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.\"}},{\"@type\":\"Question\",\"name\":\"Can IIFL Finance become a multibagger from here?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"IIFL Finance has already gained 109.22% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in gold stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 11.20% a year since FY22, and FY26 revenue rose 30.64%. At a PE of 11.26 against an industry PE of 17.97, valuation should be checked against that growth before investing.\"}},{\"@type\":\"Question\",\"name\":\"What is the market cap of Muthoot Finance, Manappuram Finance and IIFL Finance?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"As of 15 October 2026, Muthoot Finance has a market cap of Rs 1,03,780 crore, Manappuram Finance has a market cap of Rs 30,528 crore and IIFL Finance has a market cap of Rs 25,393 crore. Muthoot Finance is the largest of the group. Market cap changes daily with the share price, so check the latest figure on the Univest Screener or on NSE before taking a decision on gold stocks.\"}},{\"@type\":\"Question\",\"name\":\"What are the risks of investing in gold stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are gold price volatility, regulation and competition from banks. Sharp changes in gold prices affect collateral values, and RBI rules on gold lending can change growth plans. Lenders with wide branch networks and diversified loan books are better placed. Manappuram Finance trades at a PE of 21.12 against an industry PE of 17.97, so earnings growth needs to hold up.\"}},{\"@type\":\"Question\",\"name\":\"Is Muthoot Finance trading below its industry PE?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Muthoot Finance trades at a PE of 9.06 against an industry PE of 17.97. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (net profit has compounded at 27.36% a year since FY22 and FY26 revenue rose 54.27%) and balance sheet strength before drawing a conclusion.\"}},{\"@type\":\"Question\",\"name\":\"How much do institutions hold in Muthoot Finance, Manappuram Finance and IIFL Finance?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"As of the latest reported quarter, FII and DII together hold 22.37% of Muthoot Finance (11.61% and 10.76%), 38.59% of Manappuram Finance (21.04% and 17.55%) and 33.49% of IIFL Finance (25.64% and 7.85%). Rising institutional holding is a useful signal in gold stocks, though it should be read with earnings trends rather than on its own.\"}}]}<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>3 top gold stocks compared on market cap, PE, ROE, growth and institutional holding: Muthoot Finance, Manappuram Finance and IIFL Finance.<\/p>\n","protected":false},"author":33,"featured_media":311496,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[8308,1195],"class_list":["post-311497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-gold-loan-stocks","tag-gold-stocks"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["311496"],"rank_math_title":["Gold Stocks 2026: Muthoot Finance, Manappuram Finance"],"rank_math_description":["Gold stocks to watch for multibagger potential: Muthoot Finance, Manappuram Finance and IIFL Finance. Compare market cap, PE, ROE, growth and institutional holding."],"rank_math_focus_keyword":["gold stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-top-gold-stocks-to-watch-for-future-multibagger-potential-muthoot-finance.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/311497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=311497"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/311497\/revisions"}],"predecessor-version":[{"id":311498,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/311497\/revisions\/311498"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/311496"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=311497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=311497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=311497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}