Shares of Shriram Finance are in focus after Kotak Institutional Equities maintained a ‘Buy’ rating on the stock with a target price of Rs 750 per share.
Kotak highlighted that Shriram Finance reported a marginal rise in delinquencies across various segments, which has raised some market anxieties. However, the brokerage noted that while the trends are worth monitoring, they are not considered alarming at this stage.
Kotak Institutional Equities further stated that although growth remains calibrated, liability-side tailwinds are expected to provide a buffer to earnings going forward.
At the current market price of Rs 655.20 per share, Kotak’s target price of Rs 750 implies a potential upside of about 14%.
Disclaimer: This article is for informational purposes only. Investors are advised to consult certified financial advisors before making any investment decisions.
