HDFC Securities' research report on Indostar Capital Finance
INDOSTAR’s 1Q earnings came in above the estimates due to lower-than-expected operating and tax expenditure. The company is now well-positioned on the liquidity, capital and funding fronts, as a result of the equity infusion by Brookfield.. While the retail portfolio under moratorium registered a sharp fall, the corporate portfolio under moratorium was sticky, which would keep asset quality risks and provisions elevated and return ratios subdued in the near term.
Outlook
We, thus, maintain REDUCE with a target price of Rs 267.
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