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Buy IIFL Wealth; target of Rs 1500: Motilal Oswal

Motilal Oswal is bullish on IIFL Wealth recommended buy rating on the stock with a target price of Rs 1500 in its research report dated May 20, 2021.

June 10, 2021 / 11:14 AM IST
 
 
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Motilal Oswal's research report on IIFL Wealth


PAT grew 7% QoQ to INR1.03b (8% beat) in 4QFY21. The beat was driven largely by higher-than-expected TBR income. Core revenue (excluding other income) was largely flat at INR9.2b and PAT was up ~87% YoY to INR3.7b in FY21. Excluding the impact of other income, core operating profit was also flat YoY at INR3.5b.


Outlook


However, yields are still sub-par. In 4QFY21, net flows have been encouraging. We keep our estimates largely unchanged. Buy with a TP of INR1,500/share (25x FY23E EPS).


For all recommendations report, click here


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Broker Research
first published: May 27, 2021 01:39 pm

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