23 Sep 2025 | 5 Mins Read
JM Financial recommends largecap and bank stocks over NBFCs and midcaps
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JM Financial favors large-cap banks over midcaps, with preferential ratings for ICICI Bank, HDFC Bank, and SBI, and for NBFCs, Bajaj Finance and AB Capital. Kumar also recommends affordable housing names like Aadhar Housing Finance and Aavas Financiers, citing low valuation and limited risk. Credit growth remains low at around 10% YoY, expected to increase to 11-12% by FY26.