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IIFL Institutional Equities is bullish on NBFCs Bajaj Finance, Cholamandalam, CreditAccess, Manappuram and M&M Finance.

IIFL Institutional Equities is bullish on NBFCs Bajaj Finance, Cholamandalam, CreditAccess, Manappuram and M&M Finance.
“Bajaj Finance will continue to make higher provisions to buffer or strengthen their balancesheet. We have an estimate of around Rs 1,150-1,180 crore for the quarterly profit after tax (PAT). That is a very healthy sort of quarterly performance if that comes. It will be reasonably healthy given the kind of environment we are in. From a long-term fundamental perspective, we are positive on Bajaj Finance but in the near-term maybe one has to wait for a little bit of clarity on how the disbursement etc is picking up before you see the stock run up significantly,” Abhishek Murarka, Vice President, IIFL Institutional Equities told CNBC-TV18.
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