Wednesday, June 19, 2024
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Poonawalla Fincorp’s stock is experiencing a significant surge in trading today following a “Buy” rating and target price of Rs. 350 per share from Motilal Oswal, indicating an upside potential of approximately 35%. In May 2021, the Poonawalla Group acquired a controlling stake in the company, leading to an increase in its access to liabilities.

Poonawalla Fincorp and its subsidiary, PHFL, have also recently received upgrades to AAA by credit rating agency CARE, which has contributed to a decrease in the cost of borrowings by approximately 190 basis points over the last year. As a result, the company now has some of the lowest borrowing costs in the non-banking financial company (NBFC) sector.

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