New Delhi, Oct 11 (IANS) Poonawalla Fincorp shares, which have fallen nearly 16 per cent over the past year, are likely to be in focus on Monday after the NBFC reported a nearly five-fold jump in September-quarter profit, supported by strong loan growth, improving asset quality and lower credit costs.
On a year-to-date basis, the shares have declined 7.6 per cent, or Rs 36.70. However, over the past six months, the stock has gained 9.24 per cent, or Rs 37.75.
Over the last one month, the shares remained largely flat, rising 0.28 per cent, or Rs 1.25. In the past five trading sessions, the stock has advanced 1.27 per cent, or Rs 5.60.
The company posted a consolidated profit of Rs 375 crore for Q2 FY27, a nearly five-fold increase from Rs 74 crore reported in the corresponding quarter last year.
Total income rose to Rs 2,625 crore from Rs 1,543 crore, while interest income increased to Rs 2,416 crore from Rs 1,402 crore during the same period.
Despite the strong earnings growth, Poonawalla Fincorp shares have remained under pressure over the past year. The stock closed 2.25 per cent higher at Rs 448.05 on the BSE on Friday but is still down 15.61 per cent over the last 12 months.
Emkay Global Financial Services maintained its ‘Reduce’ rating with a target price of Rs 410, signalling caution despite the company’s improving financial metrics.
Meanwhile, Indian equity benchmarks posted notable gains this week, snapping an eight‑week losing streak as crude oil prices retreated from recent highs.
Nifty added 0.44 per cent during the week and gained 1.30 per cent on the last trading day to reach 22,520. At close, Sensex was up 879 points or 1.23 per cent at 72,472. It gained 0.78 per cent during the week.
On the sectoral front, IT led the recovery supported by a positive quarterly result, while banking, FMCG and auto also witnessed buying interest.
–IANS
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