Despite a 55% rise in quarterly profit and improved credit costs, M&M Financial Services slumped nearly 10%. ICICI Securities retained its Buy rating, while Nomura lowered its target price and Nuvama maintained Hold, citing potential pressure on funding costs, margins and tractor-loan quality.
Despite a 55% rise in quarterly profit and improved credit costs, M&M Financial Services slumped nearly 10%. ICICI Securities retained its Buy rating, while Nomura lowered its target price and Nuvama maintained Hold, citing potential pressure on funding costs, margins and tractor-loan quality.
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