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Nomura Bets on Three NBFCs for Up to 26% Gains
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Nomura Bets Big: 3 NBFCs Poised for Up to 26% Upside, Initiates 'Buy' Ratings
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CNBC TV18
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12-03-2026, 08:33
Nomura Bets Big: 3 NBFCs Poised for Up to 26% Upside, Initiates 'Buy' Ratings
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Nomura initiates 'buy' ratings on Piramal Finance, L&T Finance, and Tata Capital, projecting up to 26% upside; HDB Financial Services gets 'neutral'.
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Piramal Finance target ₹2,150 (21.2% upside), L&T Finance target ₹325 (19.5% upside), Tata Capital target ₹400 (26% upside).
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NBFC sector faces rising competition and AI-driven transformation; RBI anticipated to establish an AI framework for the financial sector.
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Piramal Finance expects 26% AUM CAGR (FY26-28); L&T Finance achieved "Lakshya 2026" goals with strong AI engines.
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Tata Capital's RoA projected to expand to 2.3% by FY28, driven by better credit costs, operating leverage, and high-yield segments.
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