Last Updated : Jun 07, 2020 08:38 PM IST | Source: Moneycontrol.com

Buy Cholamandalam Inv. and Finance; target of Rs 200: Motilal Oswal

Motilal Oswal is bullish on Cholamandalam Inv. and Finance has recommended buy rating on the stock with a target price of Rs 200 in its research report dated June 04, 2020.

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Motilal Oswal 's research report on Cholamandalam Inv. and Finance

CIFC’s 4QFY20 PAT declined 85% YoY to INR427m (88% miss), weighed by an 8% operating profit miss and coupled with higher-than-expected provisions. The company took INR5b one-time provisions (0.9% of loans) for the COVID-19 impact. ~76% of CIFC’s customers have been granted moratorium.

Outlook

As a result, we have cut our estimates by 15% for FY21/22E. Maintain Buy with a TP of INR200 (1.7x FY22E BVPS).

For all recommendations report, click here

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