Motilal Oswal, a financial services firm, has issued a research report recommending a buy rating on the stock of Home First Finance. They have set a target price of Rs 1180. This report indicates that Motilal Oswal is optimistic about the future performance of Home First Finance in the finance industry.

Home First Finance Company India Stock Price Declines

On January 22, 2024, the stock price of Home First Finance Company India has witnessed a decline of -2.58%. The stock closed at Rs 1008.95 per share. This decrease in share price is a significant event for investors and shareholders of Home First Finance, as it reflects a negative performance of the company in the stock market.

Growth in AUMs and Disbursement

One of the factors that contributed to the growth of Assets Under Management (AUMs) of Home First Finance was the substantial increase in disbursement during the third quarter. With a year-on-year jump of 29.1%, the company reached a milestone by crossing the Rs 1000 crore-mark for the first time. This achievement highlights the success and expansion of Home First Finance in providing financial services.

Impact on Home First Finance Share Price

Following weak earnings, Home First Finance Company India shares experienced a drop, leading to a decline in the stock price. Investors and market participants observed this downward movement in share price, reflecting the financial performance of the company. However, the news of strong net profit and growth in assets during Q3 resulted in a subsequent 8% soar in the share price of Home First Finance, reaching a 52-week high. This positive event indicates a potential recovery for the company in terms of market value and investor confidence.

In summary:

• Motilal Oswal issued a research report recommending a buy rating on Home First Finance stock with a target price of Rs 1180.
• On January 22, 2024, Home First Finance Company India stock price declined by -2.58% to Rs 1008.95 per share.
• During Q3, the company achieved a landmark by surpassing the Rs 1000 crore-mark in disbursement, contributing to the growth in AUMs.
• Weak earnings led to a drop in Home First Finance share price, while strong net profit and asset growth in Q3 resulted in a subsequent 8% increase.

Sources: Motilal Oswal, NSE