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Ideas for Profit | This microfinance NBFC is ripe for re-rating despite sector headwinds

February 26, 2020 / 03:08 PM IST
Ideas for Profit | This microfinance NBFC is ripe for re-rating despite sector headwinds

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

“History doesn't repeat itself, but it does rhyme.” These words of Mark Twain sound prophetic as microfinance companies stare at potential trouble brewing in Assam exactly a decade after the Andhra Pradesh crisis jolted the sector in 2010. The new fault lines in micro lending got exposed in the third quarter earnings of the largest micro lender in the country, Bandhan Bank. Does this mean that investors should shun stocks of microfinance companies (MFIs)? Not really, investors shouldn’t paint the entire sector with the...

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