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    HomeNewsBusinessStocksBuy PTC India Financial Services; target of Rs 49: Axis Direct

    Buy PTC India Financial Services; target of Rs 49: Axis Direct

    Axis Direct is bullish on PTC India Financial Services has recommended buy rating on the stock with a target price of Rs 49 in its research report dated February 23, 2017.

    February 27, 2017 / 16:43 IST
       
       
      26 Aug, 2025 12:21
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      Axis Direct's report onPTC India Financial Services
      PTC India Finance (PFS) reported PAT growth of 20% YoY at Rs 83 cr led by strong growth of 26% YoY in interest income and similar increase in operating expenses. Loan book grew by 23% YoY to Rs 9,613 cr, management maintained their guidance of 30-40% loan book growth for next 2-3 years led by renewable energy.
      Outlook
      We expect PFS’s business to grow rapidly over next couple of years with loan book growth of 29% CAGR (FY16-18E) and PAT earnings growth of 30% CAGR (FY16-18E). At CMP the stock trades at 1.1x FY18E P/BV. We value PFS at FY18E P/BV multiple of 1.2x to arrive at target price of Rs.49 and continue to have BUY rating.
      For all recommendations, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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      first published: Feb 27, 2017 04:43 pm

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