Investec raises PT of India's OnEMI on credit upgrade prospects
28/09/2026 05:24
BUZZ-Investec raises PT of India's OnEMI on credit upgrade prospects ** Brokerage firm Investec sees OnEMI Technology Solutions' ONEE.NS recent preferential capital raise will help improve its credit profile and reduce cost of funds
** Consol net worth of OnEMI to reach 35 billion rupees ($364.85 million) by March 2027 post capital raise, similar to peers like Moneyview and Fibe, says Investec
** Firm rates the stock "buy", raises TP to 450 rupees from 400 rupees
** When CRISIL reviews rating over next 3-6 months, high likelihood of credit rating upgrade which is incremental to further decline in cost of funds
** Shares of ONEE down 2.8% at 338.35 rupees; YTD, shares up 78.1%
($1 = 95.9300 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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