The Fall of the NBFCs

Hat Tip : D H

Source : Antique Research

One reply on “The Fall of the NBFCs”

Fall of PNB Housing by 84% is bit too harsh because at the end of the day, it is a PSU company and secondly in the housing finance sector where a huge default is beyond imagination. Remember, PNB Housing, because of a PSU tag, still enjoys very high credit rating and therefore is able to get debt at one of the lowest in the market. Almost as good as LIC Housing Finance’s credit profile.
Fall of Piramal Enterprises by 68% is also too severe because it is in the Pharma business also which contributes roughly more than 50% of revenue and profits and this pharma business cannot be hammered like this.
I think market has lost the sense of differentiating good vs bad and even sectoral valuation matrix also.

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