JM Financial has recommended a ‘Buy’ call on Five-Star Business Finance with a revised target price of INR 1020. The company has shown a strong growth trajectory, achieving healthy AUM growth and sustained profitability metrics. With its unique positioning and deep understanding of the customer segment, Five-Star is expected to maintain its growth and deliver on profitability and asset quality metrics.
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Bain Capital, Advent International, and CVC Capital are among the private equity funds that are competing to buy Shriram Housing Finance Ltd (SHFL), an arm of Chennai-based non-banking finance company Shriram Finance. The shortlisted bidders are currently conducting due diligence, with binding bids due in a fortnight. SHFL expects a valuation of Rs 6,500 crore for the business, while the initial offers have been in the Rs 5,000-5,500 crore range.
JM Financial has buy call on Prince Pipes & Fittings with a target price of Rs 770. The current market price of Prince Pipes & Fittings Ltd. is Rs 699.85. Find out more about the company and its financials.
JM Financial predicts that the Nifty may see a gain of about 1,000 points in September, with a target of 20,432. This implies a 4.6% upside for the index. The brokerage also identified PNB Bank and Hindalco as potential beneficiaries of the market rally.
