delinquency control until clarity emerging on credit bureau stands credible. Against this backdrop and strong price momentum, we believe BAF is entering into a priced-to-perfection zone. Hence, we downgrade the stock to Accumulate (earlier BUY) valuing BAF at 6.7x PABV Mar'23E implying price target of Rs 5,491. BAF stands poised to deliver 19-20% ROEs/3.8% RoAs by...