Motilal Oswal reiterates Buy on Cholamandalam Inv, target Rs 2160
Motilal Oswal says Cholamandalam Inv and Fin’s scale remains supported by a growing mix beyond core vehicle finance, including mortgage, consumer, MSME and gold loans. Expects ~20%+ AUM growth.
Motilal Oswal said Cholamandalam Inv and Fin’s (CIFC) core vehicle-finance franchise continues to provide scale, while the next phase of growth is increasingly being supported by mortgage, consumer finance, MSME and gold loans. The brokerage expects CIFC to sustain ~20%+ AUM growth.