India's Tata Capital gains as Citi starts with 'buy'

Tata Capital

23/09/2026 05:00

** Shares of Tata Capital TATC.NS up 1.3% at 345.45 rupees after climbing as much as 3.2%
** Citi initiates coverage on the non-bank lender with "buy" and a PT of 450 rupees
** Brokerage says TATC's three earnings drivers are converging: retail and SME mix expansion, operating leverage, and motor finance normalization
** Expects assets under management to grow at a 24% CAGR through FY29, aided by retail and SME lending momentum
** Avg rating of 12 analysts on stock at "buy"; median PT is 407.50 rupees - LSEG compiled data
** YTD, stock up 1.1%


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))