π° Jefferies picks Manappuram for gold monetization play
Jefferies has named Manappuram Finance as a top stock pick for the rising monetization of household gold. This recommendation follows the sustained 35 per cent rally in gold prices over the last year, which boosted household wealth. As of March 2026, domestic households held about 25,000 tonnes of gold valued at nearly $3.9 trillion. The brokerage noted that only about 15 per cent of this gold is currently monetized through loans. Jefferies estimates that this trend reversal could lead to an additional $15-20 billion in gold loans annually. π