POONAWALLA share Fresh Entry Levels Post Budget 2024:- Last week Poonawalla Fincorp Ltd released their strong Q1FY4 results. Brokerage firm JM Financial Services remains bullish on Poonawalla Fincorp, highlighting the company's strong performance in the first quarter of FY25. Here’s a closer look at the key metrics: Poonawalla Fincorp reported an impressive operational beat of 7.4%, with Profit Before Provisioning (PPoP) growing by 48% year-on-year (YoY) and 6% quarter-on-quarter (QoQ) to Rs 430 crore. This growth was driven by a higher non-interest income of 28% QoQ and an improved cost to income ratio of 36%, down by 34 basis points (bps) QoQ. NII growth was steady at Rs 580 crore, up 37% YoY and 2.4% QoQ. However, Net Interest Margins (NIMs) on Assets Under Management (AUM) declined by 72 bps QoQ to 8.9%. Credit costs increased to Rs 44.5 crore, representing 68 bps of AUM compared to 41 bps QoQ. This resulted in an in-line PAT of Rs 290 crore, up 46% YoY but down 12% QoQ.
Poonawalla Fincorp Ltd Fresh Entry Levels Levels and targets for August 2024
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| Poonawalla Fincorp Ltd Share Latest Chart Analysis |
Based on the latest chart analysis, here are the crucial levels and targets for Poonawalla Fincorp shares:
- Support Levels: Major support is found between Rs 370 and Rs 340. Investors can consider entering the stock at these levels during dips.
- Stop Loss: It is advisable to place a stop loss below Rs 322 to manage risk effectively.
- Target Prices: With the strong financial results, the targets can be set at Rs 425 and Rs 450 in the coming months.
Why Invest in Poonawalla Fincorp Now?
Poonawalla Fincorp's robust financial performance and strategic positioning make it a compelling choice. The company’s growth in non-interest income and improved cost management reflect its operational efficiency and potential for future profitability.
Moreover, the favorable outlook from JM Financial Services and the strong quarterly results provide confidence to investors looking to capitalize on post-budget opportunities.
Conclusion
In summary, Poonawalla Fincorp stands out as a promising stock post Budget 2024. With strong financials and strategic support levels, it offers a compelling entry point for investors. Keep an eye on the specified targets and manage risk with the recommended stop loss.
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