India's AU Small Finance Bank up on earnings growth outlook

AU Small Finance Bank

18/08/2023 05:56

** Shares of AU Small Finance Bank  AUFI.NS  rise as much as
3.01% to 719.40 rupees
    ** Domestic brokerage Motilal Oswal upgrades the non-banking
financial company's stock to "buy" from "hold", citing potential
acceleration in earnings growth from FY25
    ** Expects AUFI to maintain industry-leading lending growth
over FY23-25
    ** Adds focus on diversifying loan book, investments in
vehicle loans, housing loans, gold loans to aid business growth
    ** Loan growth to remain steady at 28% CAGR over FY23-25:
Motilal Oswal
    ** Of 22 analysts tracking AUFI, two maintain "strong buy",
six have "buy", seven retain "hold", six suggest "sell" and one
recommends "strong sell" - Refinitiv data
    ** AUFI up 9.5% in 2023 so far, including day's gains,
compared to 20% rise in Nifty Midcap 100 index  .NIFMDCP100  

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))