Edelweiss maintains buy on Muthoot Finance
Edelweiss maintained "buy" call on Muthoot Finance with revised target price of Rs 410 compared to Rs 290 earlier. Muthoot Finance's Q1 net profit surpassed estimates on account of better collections. The stock is trading at 1.9 times FY18 estimated price to average book value, is still at a discount to un-secured lenders, which we expect to narrow as the company delivers on growth.
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