Buy Poonawalla Fincorp, target price Rs 450: Axis Securities

economictimes.indiatimes.com:

Poonawalla Fincorp with a target price of Rs 450. The current market price of Poonawalla Fincorp is Rs 412.75.

Axis Securities recommended to keep stop loss at Rs 375. Poonawalla Fincorp, incorporated in the year 1978, is a Small Cap company (having a market cap of Rs 30909.90 Crore) operating in NBFC sector.

Poonawalla Fincorp key Products/Revenue Segments include Interest, Fees & Commission Income, Income From Financial Services, Rental Income and Income From Sale Of Share & Securities for the year ending 31-Mar-2023.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 707.30 Crore, up 21.80 % from last quarter Total Income of Rs 580.71 Crore and up 23.73 % from last year same quarter Total Income of Rs 571.67 Crore. Company has reported net profit after tax of Rs 225.99 Crore in latest quarter. Investment Rationale Strong uptrend forming series of higher tops & bottoms, well placed above 20, 50, 100 & 200 day SMA.Promoter/FII Holdings Promoters held 62.12 per cent stake in the company as of 30-Jun-2023, while FIIs owned 7.18 per cent, DIIs 7.91 per cent.