Edelweiss Securities has initiated coverage with Buy rating on the stock and set a target price at Rs 199, implying potential upside of 42.5 percent.
The company is in a sweet spot to capture the financialisation story, it believes.
The research house expects multiple levers to sustain best-in-class growth & improved return ratios.
It has promising blend of businesses; and scalable and sustainable model while its business model shares similarities with successful financial entities like Bajaj and HDFC, Edelweiss said.
Execution of business strategy is key risk to potential valuation re-rating, it said.
Read more--Stocks update
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