Motilal Oswal starts India's HDB Financial with 'neutral'; stock flat

HDB Financial Services

21/08/2025 05:00

Aug 21 (Reuters) - ** Motilal Oswal starts HDB Financial HDBF.NS with "neutral"; sets PT at 860 rupees, 9% upside from last close

** Says non-banking lender's focus on under-served segments across Tier 2 and beyond, precise execution will drive profitability, scale up business

** Expects 19% annual growth over FY26–FY28 in assets under management, 8% NIM expansion

** Jefferies also initiated coverage with "buy"

** Stock trading flat at 790.40 rupees

** HDBF down 6% since listing on July 2

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com;))