The company aims to raise RS 300 billion in the current financial year, about half of which has been borrowed already, said chief executive officer and managing director Jairam Sridharan
The brokerage believes Piramal is entering a phase where scale benefits, lower operating costs and a sharper credit framework will drive meaningful expansion in return ratios.
Within the space, Kotak's preferred names are Aadhar Housing Finance and Aavas Financiers, citing their positioning and growth potential. It also finds Aptus Value attractive for its profitabilty
Shares of Piramal Finance, which debuted on BSE after its merger with PEL, hit the upper circuit at Rs 1,333.45, valuing the NBFC at over Rs 30,000 crore
Shares of Piramal Finance were locked in the 5 per cent upper circuit at ₹1,333.45 on the BSE in Friday's intra-day trade.