208.75 3.10 (1.51%)
NSE Aug 07, 2020 15:31
Volume: 7.4M

HDFC Securities
Maintain BUY with a target price of Rs 249 (2.2xFY22E ABV). CIFCs 1QFY21 performance was ahead of our estimates on account of lower provisions. The management believes that COVID-19 related provisions made in 4QFY20 are sufficient. While we have reduced our provision estimates, they remain conservative. CIFCs 1QFY21 disbursal performance is creditable, given the challenging environment. The company remains our top NBFC pick, its ability to access funds, strong capital position, and diversified portfolio will enable the company to capture resurgent growth
Cholamandalam Investment & Finance Company Ltd. is trading below it's 150 day SMA of 220.7
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