#AngelBroking Recommendation! Company: Shriram City Union Rat | Angel Broking

#AngelBroking Recommendation!

Company: Shriram City Union
Rating: Buy
Target price: 2,100

Rationale to invest:
Shriram City Union Finance is part of the Shriram group and is in the high margin business of lending to small businesses which account for 57.3% of the loan book as of the end of FY20. The company posted a good set of numbers for the quarter due to positive surprise on the asset quality front. It reported a strong 50% sequential growth in disbursement for the quarter which led to a 3.7% QoQ growth in AUM to Rs. 28,500 crore.