The Economic Times daily newspaper is available online now.

    Buy Satin Creditcare Network, target price Rs 110: Centrum Broking

    Synopsis

    Satin Creditcare Network Ltd., incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 499.46 Crore) operating in NBFC sector.

    buyThinkStock Photos
    Promoters held 37.9 per cent stake in the company as of Sept 30, 2020, while FIIs held 6.7 per cent, DIIs 17.6 per cent and public and others 37.9 per cent.
    Centrum Broking has given a buy rating to Satin Creditcare with a target price of Rs 110. The share price moved up by 4.97 per cent from its previous close of Rs 66.35. The stock’s last traded price is Rs 69.65.

    Satin Creditcare Network Ltd., incorporated in the year 1990, is a Small Cap company (having a market cap of Rs 499.46 Crore) operating in NBFC sector.

    Financials
    For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 339.53 Crore, up 9.83 % from last quarter Sales of Rs 309.14 Crore and down -7.16 % from last year same quarter Sales of Rs 365.72 Crore Company reported net profit after tax of Rs 15.53 Crore in latest quarter.
    satin

    Investment Rationale
    For FY21/22E the brokerage has lowered AuM growth/other income est. which would be partly offset by a reduction in opex/provisions resulting in FY21/22E PAT contracting by 22%/10%. It likes Satin due to its MFI business and inexpensive valuations. Maintain BUY/multiple at 0.5x FY22 ABV and revise TP to Rs110 (earlier Rs115). Risks: higher provisions.

    Promoter/FII Holdings
    Promoters held 37.9 per cent stake in the company as of Sept 30, 2020, while FIIs held 6.7 per cent, DIIs 17.6 per cent and public and others 37.9 per cent.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in