InCred Equities sees 58.1 per cent upside for MAS Financial Services
The brokerage maintains an 'Add' rating for the Gujarat-headquartered NBFC with a target price of ₹400 per share.
Shares of MAS Financial Services Limited closed 3.69 per cent lower at ₹244.10 on the BSE on Friday, October 30. According to Mint, the stock has declined approximately 28.22 per cent over the last six months.
InCred Equities remains bullish on the NBFC, projecting 58.1 per cent upside potential. The brokerage has maintained an 'Add' rating for the company with a target price of ₹400 per share.
The brokerage highlighted that the Gujarat-headquartered firm is positioned for growth due to strong MSME demand, diversified distribution channels, and prudent underwriting. However, it noted that NIM moderation and asset quality normalisation require monitoring.
The company recorded a consolidated net profit of ₹115.12 crore during the second quarter of financial year 2026-27. This compares to a net profit of ₹91.43 crore in the same quarter of the previous financial year.
InCred Equities stated that downside risks for the stock include material deterioration in asset quality, sustained margin pressure, and slower-than-expected growth. The firm's market capitalisation stood at ₹4,429.28 crore on Friday.