29-Oct-2026 07:57:26

JEFFERIES ON CHOLA FINANCE ; BUY | TP ₹1,960 VS ₹2,100 EARLIER

• Target Cut: Jefferies reduces target price by 6.67% to ₹1,960 from ₹2,100. • Q2 Performance: PAT UP 41% YoY to ₹1,630 Cr, beating estimates by 3%. • AUM Growth: AUM UP 25% YoY to ₹2.48 lakh Cr. • Asset Quality: Improvement in asset quality supports business outlook. • Margin Pressure: Higher funding costs continue to pressure NIMs. • FY27 Guidance: Management retains AUM growth guidance of 22–23%. • Impact: Mixed 🟡

J.A. Finance Limited

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