Motilal Oswal starts India's Tata Capital with 'neutral'

Tata Capital

30/06/2026 07:16

** Motilal Oswal initiates coverage on India's Tata Capital TATC.NS with "neutral" and PT at 390 rupees 
** Brokerage flags strong franchise with ~2.77 trillion rupees ($29.30 billion) AUM and ~29% AUM CAGR over FY23-26
** Sees healthy growth ahead, with ~23% AUM CAGR projected over FY26-28 
** Says margins to improve gradually on shift to higher-yielding retail, unsecured segments
** Brokerage highlights strong Tata parentage, AAA rating aiding low cost funding access 
** Motilal also flags turnaround in motor finance, moderation in credit costs as positives
** TATC down 2.4% at 360.20 rupees, benchmark Nifty 50 .NSEI flat as of 11:45 a.m. IST
** Avg rating of 11 analysts at "buy"; median PT is 395 rupees - LSEG-compiled data
** YTD, stock up 5.4%


($1 = 94.5400 Indian rupees)

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