Last Updated: May 04, 2023, 14:11 IST
Cholamandalam Investment and Finance Company
Cholamandalam Investment and Finance Company’s share worth surged to 9.4 per cent in Thursday’s commerce
Cholamandalam Investment and Finance Company’s share worth surged to 9.4 per cent in Thursday’s commerce to hit its 52-week excessive of Rs 970.20 on BSE. This is after it reported a 24% rise in standalone revenue for the quarter ended March 31 at Rs 852.8 crore.
The agency had registered a revenue of Rs 689.6 crore throughout the corresponding quarter of the earlier yr.
The standalone complete revenue for the quarter below evaluation rose 44.17 per cent YoY to Rs 3,794.26 crore from Rs 2,631.75 crore registered in the identical quarter of final yr.
The firm stated the disbursements throughout the March quarter grew by 65 per cent YoY to Rs 21,020 crore whereas for the monetary yr 2022-23 (Fy23), it grew 87 per cent YoY to Rs 66,532 crore.
Should you Invest?
Akshay Ashok, a analysis analyst on the brokerage agency Prabhudas Lilladher identified that initially look, Cholamandalam Investment’s outcome was excellent as AUM progress beat the brokerage’s lofty expectations which is a optimistic.
He has a ‘hold’ score on the inventory with a goal worth of ₹820.
Ashok additional stated that the robust traction seen in new enterprise can be a powerful optimistic. He stated the inventory is richly valued at 4.7 occasions FY24 P/ABV.
JP Morgan maintained an obese score on Cholamandalam Investment with a goal worth of Rs 1,020. “The company recorded a margin improvement while maintaining system-leading growth which addresses our primary concern,” it stated.
“All the growth vectors are firing. The asset quality remains solid, and the premium valuations can sustain in the near term,” it added.
Motilal Oswal has a optimistic outlook on Cholamandalam Investment and Finance with a purchase score.
“The susceptible asset pool (Stage 2 + 3) declined 170bp QoQ to six.7%. The enchancment within the 30+dpd pool means that natural collections with none extraordinary write-offs contributed to this enchancment. The key issues to be careful for would be the demand outlook for each new and used autos, its evolving technique in new product segments within the SME and Consumer ecosystem, and the margin trajectory,” it said.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Read all of the Latest Business News, Tax News and Stock Market Updates right here
