Research house upgraded the stock to outperform and raised the target price to Rs 390 per share.
Assam MFI bailout package to aid recoveries & credit costs as it accounts for 12% of MFI loans for the company, said Credit Suisse.
Over 25% of Assam exposure written off which could see recoveries.
The potential stress from the second wave will keep slippages elevated and expect credit costs to moderate to 3% in FY22 versus 6% in FY21, it added.
News source:- Moneycontrol