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Reduce Indostar Capital Finance; target of Rs 267: HDFC Securities

HDFC Securities recommended reduce rating on Indostar Capital Finance with a target price of Rs 267 in its research report dated August 14, 2020.

August 16, 2020 / 07:55 AM IST
 
 
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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.

For all recommendations report, click here

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Broker Research
first published: Aug 16, 2020 07:55 am

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