Shares of Poonawalla Fincorp surged almost 14% in trade after brokerage firm Motilal Oswal assigned a Buy rating on the stock with a target price of Rs 350, a 42% upside from current levels.
So far this year, the stock has surged nearly 27%. Poonawala Fincorp (PFL) is an NBFC which focuses on consumer and small business finance via products like personal loans, loans to professionals, business loans, SME loans, LAP, pre-owned car finance, medical equipment loans and auto lease. It operates across 21 states and has a standalone AUM of Rs 132 billion as of Sep’22
