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HSBC upgrades Ujjivan to ‘hold’; maintains buy call on Equitas

10 July, 2018 8:42 AM
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HSBC upgrades Ujjivan to ‘hold’; maintains buy call on Equitas

The brokerage house believes that loan book diversification could weigh on its earnings in the near term, analysts at the firm wrote in a research note.

Global investment bank, HSBC, has said that the view of declining risk reward in microfinance space is intact.

Further, it believes that loan book diversification could weigh on its earnings in the near term, analysts at the firm wrote in a research note.

HSBC believe stocks such as Equitas and Ujjivan have continued their focus on bank transition.

On a stock specific basis, HSBC has upgraded Ujjivan to hold from reduce and hiked target price to Rs 370 from Rs 329. This implies an upside of 12 percent.

It said that the current fiscal is a crucial transition year from the perspectives of asset diversification and liabilities base building.

Also read: HSBC initiates buy on Finolex Industries, target Rs 750; stock up 3%

Source: moneycontrol.com

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