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Research house: Antique Stock Broking
Advice: Buy
Stock price: Rs 180
1-year target price: Rs 282
Potential upside: 56.7%
Comment: Maintain ‘buy’ due to decent performance in the September quarter led by strong volume growth. Absence of major capex, high RoE and optionality in the business to launch new products are the key positives.
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Research house: DAM Capital
Advice: Buy
Stock price: Rs 282
1-year target price: Rs 425
Potential upside: 50.7%
Comment: Initiate with ‘buy’ due to its strong asset quality (negligible write-offs & low credit cost), robust balance sheet metrics and strong focus on secured lending. Attractive valuations and likely improvement in RoA are the other positives.
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Research house: Axis Securities
Advice: Buy
Stock price: Rs 777
1-year target price: Rs 1,085
Potential upside: 39.6%
Comment: Maintain ‘buy’ due to strong execution capabilities, a healthy balance sheet, low leverage, new launches, focus on expansion across geographies and substantial increase in business development.
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Research house: Nuvama
Advice: Buy
Stock price: Rs 777
1-year target price: Rs 1,081
Potential upside: 39.1%
Comment: Maintain ‘buy’ despite soft performance in the September quarter due to a healthy launch pipeline, surge in annuity rentals, benefits of sector consolidation and expectations of better cash flows.
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Research house: Systematix
Advice: Buy
Stock price: Rs 407
1-year target price: Rs 560
Potential upside: 37.6%
Comment: Maintain ‘buy’ despite weak performance in the September quarter due to expectations of healthy growth in the home and business loan segments and decent AUM growth in 2025-26.
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