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Reduce Indostar Capital Finance; target of Rs 303: HDFC Securities

HDFC Securities recommended reduce rating on Indostar Capital Finance with a target price of Rs 303 in its research report dated November 07, 2020.

November 12, 2020 / 12:38 PM IST
 
 
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HDFC Securities' research report on Indostar Capital Finance


INDOSTAR’s earnings were below estimates on account of worse-thanexpected operating performance. The company, like many of its peers, reported a sharp improvement in retail collection efficiency (~100% in October; incl. overdues). De-growth in the corporate portfolio will continue to weigh down on overall growth in the near term, and this portfolio could continue to pose asset quality risks.


Outlook


This drives our REDUCE rating (target price of Rs 303). In the near term, we will watch for steps towards compliance with promoter shareholding requirements and possible inorganic growth.


For all recommendations report, click here


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Broker Research
first published: Nov 12, 2020 12:38 pm

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