Buy: Piramal Finance Limited (current price: ₹2,110)
- Why it’s recommended: Strong parentage of Piramal Group, diversified lending portfolio, focus on retail loan expansion, improving asset quality trends, strong brand credibility, large distribution network, growing housing finance opportunity, adequate capital position, reduced dependence on wholesale lending, beneficiary of rising credit demand, experienced management team, cross-selling opportunities across products, strong risk management framework, potential earnings growth from retailization, and long runway for financial inclusion growth
- Key metrics: P/E: NA, 52-week high: ₹2,175.00, volume: ₹72.99 crore
- Technical analysis: Flat base pattern breakout
- Risk factors: Sensitive to economic slowdowns, asset quality deterioration risk, exposure to real estate sector, credit cost volatility, interest rate fluctuation risk, high competition in retail lending, regulatory changes in NBFC sector, funding cost pressure, collection efficiency challenges, dependence on borrowing markets, slower loan growth risk, margin compression risk, geographic concentration in some segments, unsecured lending risks, and market sentiment toward NBFCs can be volatile
- Buy at: ₹2,089–2,121
- Target price: ₹2,390 in two to three months
- Stop loss: ₹1,985
Nifty 50: How the benchmark index performed on 23 June
Indian equities ended sharply lower, with broad-based selling pressure dragging benchmark indices lower through the session. Nifty 50 declined 278.80 points, or 1.16%, to close at 23,824.10, after trading in a range of 23,784.95–24,135.50. Market breadth remained distinctly weak, reflecting widespread risk aversion, with 1,020 stocks advancing against 2,280 declines, translating into an advance-decline ratio of roughly 0.45:1. On the sectoral front, losses were led by Metals (-3.22%), IT (-2.23%), PSU Banks (-1.97%), and Consumer Durables (-1.50%). On the other hand, defensive pockets provided some support, Pharma (+0.92%), Healthcare (+0.54%), and Midcap Healthcare (+1.08%) outperformed. Financials, Autos, Realty, and Oil & Gas also ended in the red, adding to the broader market weakness. The intraday trend remained negative after a subdued opening, with selling intensifying in the second half and Nifty closing near the day’s low, indicating persistent bearish sentiment.
About The Author
