Flash News Investment - - DIWALI RECOMENDATION -

The com­pany is a non-de­posit NBFC, en­gaged in fund­ing ma­jorly to the MSMEs and pro­vid­ing fi­nan­cial ser­vices. It caters to the capital needs of MSMEs through its SME and re­tail lend­ing. Go­ing for­ward, for deeper pen­e­tra­tion into ru­ral In­dia, the com­pany is ex­pected to build branch net­work in MSME hubs and dis­tri­bu­tion net­work. Fur­ther, it would en­hance its re­tail lend­ing to home buy­ers ow­ing to govern­ment’s 'Hous­ing for All - Mis­sion 2022'. The com­pany has also launched an as­set man­age­ment com­pany (AMC) in strate­gic al­liance with Capri In­vest­ment Group. Fi­nan­cially, the com­pany has re­ported ro­bust rev­enue and PAT growth of 24% and 33%, re­spec­tively, in FY17.

The stock price had moved in a price band of Rs 38-82 from Oc­to­ber 2016 up to Septem­ber 2017. The stock moved in the price band of Rs 44. The stock wit­nessed break­out from this price in the sec­ond week of Septem­ber 2017 and it en­tered into a strong up­trend. As a re­sult of which, the stock moved up swiftly to reg­is­ter a high of Rs 142 within three weeks of the break­out. How­ever, the stock failed to sus­tain at higher lev­els and it re­traced back to 50% of the re­cent up move. At present, the stock is mov­ing side­ways, which is a usual oc­cur­rence af­ter a swift up move, and af­ter time-wise cor­rec­tion, the stock is likely to move up fur­ther.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.