Stock To Buy: Top Brokerage Bullish On Small cap NBFC Stock, Sees 50% Strong Gains

ICICI Securities in its recent report on Fusion Micro Finance Ltd. has assigned a "Buy" for a target price of Rs 600 apiece. The brokerage with the given target price claims a potential upside of up to 50% from its current market price (CMP). This is a small-cap stock operating in the Financial Services sector as NBFC. It has a market capitalisation of Rs 4,036.30 crore.

Stock Overview - CMP, Returns, 52-Week Low & High

The stock of Fusion Micro Finance is currently trading at Rs 397.40 apiece, down 0.92%. on NSE, it opened at Rs 402.75 apiece, while the previous close was Rs 401.10 apiece.

The stock traded 52 week high on 8 February 2023 at Rs 444.40 apiece and 52 week low on 15 November 2022 at Rs 321.10 apiece, respectively.

The stock has fallen 0.91% in the past 1 week, and 2.28% in the past 1 month, respectively. However, in the past 3 months, it has given 13.01% positive return. Since its listing on NSE i.e. 15 November 2022, it has given 22.48% positive return.

Buy For a Target Price of Rs 600 apiece

According to ICICI Securities, Fusion's continued investment towards distribution expansion (opened >250 branches during the past 1.5 years) and deep presence in underpenetrated states (e.g. Uttar Pradesh, Bihar, Jharkhand, Punjab, Haryana) would ensure sustainability of robust growth in the near term, in our view. Collection efficiency at 109.5% in Q3FY23 in the new book (comprising ~97% of MFI AUM originated post Mar'21), NNPL at

Disclaimer - The stock has been picked from the brokerage report of ICICI Securities. 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 consult with certified experts before making any investment decision.