Value of assets financed declined 10.2% YoY to Rs. 10,856cr Net Interest income grew 9.0%/1.5% YoY/QoQ in Q2FY20. Higher operating expenses and provisioning were the main reasons behind adj. PAT declining 6.7% YoY to Rs. 356cr in Q2FY20. Asset quality improved as GNPA/NNPA ratio improved to 7.2%/5.8% in Q2FY20 (vs 9.0%/6.0% in Q2FY19). We value the company at a target price of Rs. 412 based on SOTP, and retain our BUY rating on the stock....