India's Five-Star Business Finance jumps as Nomura starts coverage with 'buy'

Five-Star Business Finance

19/06/2023 05:24

** Shares of non-banking finance firm Five-Star Business
Finance Ltd  FIVS.NS  rise as much as 7.6% to 645 rupees,
highest since Jan. 9
    ** Analysts at Nomura initiates coverage with 'buy' rating
on stock and target price of 750 rupees
    ** Estimates FIVS to deliver 30% AUM CAGR during FY23-26
driven by opportunities in MSME, small business loans, expansion
with new branches, increase in fleet and ticket size - Nomura
    ** Brokerage says co's strong underwriting practices have
led to superior asset quality performance through cycles 
    ** Stock trading above its 50- and 100-day moving averages,
suggesting bullish bias
    ** Relative Strength Index (RSI) above 70, indicating stock
is overbought
    ** Stock up ~28% since its market debut in November last
year


 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))