Improvement in CV business momentum; sell-downs in SME

Company
29 Jan 2024
5 Min read 
  • Indostar Capital Finance reported an improvement in business momentum during the quarter.
  •  Disbursements rose by approximately 6% QoQ to around INR 13.5 billion.
  •  The CV segment contributed around 83% to the retail disbursement mix.
  •  Asset quality improved with GNPA/NNPA declining 140bp/90bp QoQ to 5.3%/2.4%.
  •  The company aims to achieve an AUM of INR 100 billion by FY24 and INR 130 billion by FY25.
  •  The stock has a BUY rating with a target price of INR 245.
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