Buy Power Finance Corporation; target of Rs 500: Motilal Oswal
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Motilal Oswal recommends buying Power Finance Corporation (PFC) with a target price of Rs 500. PFC's 3QFY26 PAT rose 15% YoY to INR 47.6 billion, with NII increasing 19% YoY to INR 56.1 billion. The company reported a 14% YoY growth in other operating income, including dividend income of INR 6.7 billion. PFC's cost-to-income ratio improved, and the outlook remains positive, trading at attractive multiples. The report emphasizes the lack of material impact from the new labor code policy.
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