NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.Motilal Oswal ReportIn early FY24, non-banking financial companies/housing finance companies benefitted from anticipated interest rate cuts, which could happen in the later part of the fiscal year. However, the broader consensus emerging today, from both the Reserve Bank of India MPC meetings and the FOMC meetings is that interest rate cuts are not on the horizon in the near term, despite the easing of persistent inflationary pressures. Adding to the challenge, the RBI rist weighted assets's circular on bank term loans to NBFCs has resulted in a rise (in varying quantum) in borrowing costs for the NBFCs, affecting their net interest margins. As a result, NIM stabilisation/expansion has been further delayed by one/two quarters. NBFCs, with a presence in personal loans, have started calibrating their loan growth trajectory, expressing a clear intention to cut down on lower ticket personal loans and/or Buy-Now-Pay-Later. In response to the RBI's dissatisfaction with the lending yields of MFIs, many NBFC-MFIs have voluntarily cut their lending rates (in few instances by ~50 bp) on new loans.We highlight the key trends shaping sub-sectors below and then present a curated tabular representation of important guidance/insights given by each of the companies in our NBFC coverage universe.Click on the attachment to read the full report:Triveni Turbine - Charged Up; Well Positioned Across Markets: Motilal OswalDISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit. Users have no license to copy, modify, or distribute the content without permission of the Original Owner.