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Mirae Asset Sharekhan flags 11 BFSI stocks for long-term buying
The brokerage said NBFCs started FY27 strongly with faster loan growth, expanded margins, and lower credit costs, plus diversified lenders’ AUM up 25% year over year.
LiveMint Markets reports that Mirae Asset Sharekhan has issued buy recommendations for 11 stocks across India’s banking, financial services, and insurance, including Bajaj Finance, HDFC Life, and Nippon Life India AMC, citing performance after Q1 results for fiscal year 2026-27.
According to the brokerage, NBFCs and asset managers reported healthy numbers, while insurance results were mixed. It highlighted that NBFCs began FY27 strongly due to faster loan growth, expanded margins, and lower credit costs, with credit costs falling and asset quality improving.
The firm pointed to diversified lenders showing robust asset under management growth of 25% year over year and 6.6% quarter over quarter, alongside pre-provision operating profit rising 27% year over year and 8% quarter over quarter, which it said supported profit growth.
On insurance, Mirae Asset Sharekhan said life insurers delivered strong results driven by protection products, while general insurers faced profit hits tied to a slump in the fire segment and court-mandated reserve adjustments. It also warned that the RBI’s proposal to ban revolving credit could affect growth for lenders and segments that rely on revolving facilities.