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Nirmal Bang Report
We are positive on auto finance non-banking financial companies due to following factors -
The asset quality stress or restructuring requirement is lower than initially anticipated; large provision buffers have already been built up in case of downside scenario.
Liquidity buoyancy providing access to lower cost of funds for NBFCs with strong parentage.
Positive data points indicating that the commercial vehicle cycle is on the cusp of a recovery.
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