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Buy Shriram City Union Finance; target of Rs 2000: Cholamandalam Securities

SCUF’s, AUM grew by 7.7% YoY to INR 296bn in 4QFY19 predominantly led by growth in SME (14.8%YoY), 2Ws segment (6.9%YoY), and Other Non-gold loans (4.3%YoY). Consequently the loan mix was noted at SME segment (60%), Two Wheeler (18.2%), Loan against gold (9.2%) and Others (12.6%). Overall disbursements remained flat YoY (up 44.3% QoQ) in 4QFY19 at INR 66.1bn, given ... Read More »