India's Poonawalla Fincorp up on strong loan growth, AUM data

Poonawalla Fincorp

04/01/2024 05:00

** Shares of Poonawalla Fincorp  POON.NS  up 1.7%, paring back early gains
of ~3%
    ** Co says total loan disbursements for qtr ended Dec. 31 up 159% Y/Y;
assets under management (AUM) grew by 57%
    ** Stock above its 200-day moving avg since early-Nov, and above 50- and
100-day avgs since early-Dec
    ** Avg analyst rating of POON is a "strong buy" per LSEG data; PT of 430
rupees is slightly below current market price
    ** Peers Mahindra & Mahindra Financial Services  MMFS.NS  and Cholamandalam
Investment and Finance  CHLA.NS  are rated "buy" on average
    ** However, no analyst on POON has a "sell"-equivalent rating, while MMFS
has 6 and CHLA has 2
    ** Stock rose 40% in 2023, outperforming 18% gain in MMFS but trailing 74%
surge in CHLA

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.Das@thomsonreuters.com;))