April 26, 2018 / 4:08 AM / a month ago

BUZZ-India's Mahindra & Mahindra Fin Services hits record high; Q4 profit surges

** The non-banking financial services company’s shares rise as much as 5 pct to hit a record high of 533.05 rupees

** March-qtr profit surges 79 pct to 5.13 bln rupees ($76.69 mln) with total assets under management up 18 pct at 551.01 bln rupees as on March 31, 2018

** Jefferies analysts say loan growth surprised positively, and raise PT to 595 rupees from 575 rupees

** Expect trend of falling gross non-performing assets to continue ... with net interest margins and operating expenses ratio to improve - Nomura says, raising PT to 600 rupees from 565 rupees

** Co’s confidence on future growth is from visibility of cash flow in rural India, expectation of decent monsoon and upcoming state elections in major states - Credit Suisse writes, revising PT to 600 rupees from 570 rupees

** 21 of 31 brokerages rate the stock “buy” or higher, five “hold” and five “sell” or lower; their median PT is 562.50 rupees ($1 = 66.8900 Indian rupees)

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