Mid Cap NBFC Co Sets Record Date For Dividend, Buy With TP Of Rs 800: Motilal Oswal

Mid cap company from the NBFC sector IIFL Finance Ltd shares witnessed marginal surge of 0.37% in trade today on BSE. The company today said its board will consider interim dividend on January 17, 2024 and fixed January 25, 2024 as the record date. IIFL Finance shares surged 34% in last 1-year and soared 444% in last 3-years. Check details below:

IIFL Finance Stock Performance & Return: The 52-week high price of IIFL Finance share on BSE is Rs 704.20 apiece and 52-week low price is Rs 408.40 apiece, respectively. IIFL Finance has a market capitalisation of Rs 23,958.42 crore. IIFL Finance shares surged 3.87% in last 1-week, soared 16% in last 6-months, and gained 34% in last 1-year. In last 2-years, IIFL Finance stock surged 106% and rose 197% in last 5-years.

IIFL Finance To Consider Interim Dividend & Results: According to the BSE filing of the company dated Jan 10, "Board of Directors of the Company is scheduled to be held on Wednesday, January 17, 2024 to consider inter alia:

(a) Standalone and Consolidated Unaudited Financial Results ("Financial Results") for the quarter and nine months ended December 31, 2023;

(b) Declaration of Interim Dividend for the Financial Year 2023-24. Further, the interim dividend, if declared, shall be paid to the equity shareholders of the Company whose names appear on the shares as on January 25, 2024, which is the Record Date fixed for the said purpose."

IIFL Finance Valuation: According to Motilal Oswal, "IIFL trades at 1.9x/1.5x FY25E/FY26E P/BV. We initiate coverage on the stock with a BUY rating and a TP of INR800 (based on SOTP valuation)."

IIFL has morphed into a franchise, which enjoys distribution strength, strong presence in co-lending, and superior digital loan origination and underwriting capabilities, and can effectively leverage fintech partnerships to deliver a ~25% AUM CAGR over FY23-FY26E, added the analyst.

Disclaimer:

The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.