JM Financial initiates coverage on India's OnEMI Tech with 'buy,' shares rise

Onemi Technology Solutions

04/09/2026 11:34

** Shares of OnEMI Technology Solutions ONEE.NS rise as much as 3.8% to 309 rupees before closing 1.3% higher
** JM Financial initiates coverage on stock with "buy" rating at 385-rupee price target
** Brokerage expects the digital-first lender's assets under management (AUM) to clock 44% compound annual growth rate (CAGR) over FY26-28, helped by continued personal loan growth and rising contribution from loans against property
** Says co's fully digital origination model, large registered customer base, proprietary AI/ML underwriting platform provide strong foundation for growth without adding costs
** Brokerage adds that falling cost of funds, improving loss experience offer scope for sustained returns
** Management is passing on lower funding costs and operating leverage to customers through better pricing, supporting asset quality but compressing total income/AUM — JM Financial
** Brokerage expects lower operating and credit costs to support 49% PAT CAGR over FY26-28
** Stock up 63% since May debut

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com;))