Motilal Oswal is bullish on Repco Home Finance has recommended buy rating on the stock with a target price of Rs 500 in its research report dated May 31, 2019.
Motilal Oswal's research report on Repco Home Finance
4QFY19 PAT grew 58% YoY to INR515m (10% miss), driven by modest loan growth, spread compression and lower credit costs (-INR24m v/s INR400m YoY). The miss v/s our estimates was driven primarily by lower NII, which the company attributed to fee income reversal of INR160m, driven by higher ECL provisions (150bp v/s 80bp earlier).
Maintain Buy with TP of INR500 (1.5x FY21E BVPS). We have not currently factored in the value of investment in the associate in our TP.
For all recommendations report, click here
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