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Poonawalla Fincorp is surging in trade today after Motilal Oswal initiates coverage with a ‘Buy’ Rating and a target price of Rs. 350/share, which implies an upside potential of ~35%. In May 2021, the Poonawalla Group acquired a controlling stake. With new promoters on board, Poonawalla Fincorp’s access to liabilities rose multifold. Additionally, CARE recently upgraded both PFL and PHFL to AAA. Credit rating upgrades led to a decline in the cost of borrowings, down ~190bp over the last 12 months. In fact, the company now has one of the lowest costs of borrowings in the NBFC cohort. To know more, listen in.
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