13 Oct 2025 | 5 Mins Read
JM Financial sees limited upside in Tata Capital shares
Flipitmoney
JM Financial initiated coverage on Tata Capital with an "Add" recommendation, setting a ₹360 price target, implying a 10.4% upside. It cites Tata Capital's AAA credit rating, expecting 20% AUM CAGR and 34% net profit CAGR, but notes valuations at 2.7 times estimated 2027 price-to-book value limit upside potential, despite a 1.98 times subscription rate.