India's Ugro Capital up after Emkay starts with "buy", sees 47% upside

Ugro Capital

25/10/2023 10:09

** Shares of Ugro Capital  UGRO.NS  up 2.8% at 289.40 rupees
after Emkay Global starts with "buy"
    ** Emkay's 425 rupees target implies 47% upside in non-bank
lender's stock (no other brokerage covers UGRO, per LSEG data)
    ** Says MSME-focused lending, data-centric business model,
unique asset underwriting skills to help UGRO's earnings growth
    ** Adds UGRO's execution track record, earnings momentum to
aid gradual re-rating
    ** UGRO shares now up 91% in 2023 so far

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))