reports
- Alpesh Mehta
MOSL: DEWAN HOUSING FINANCE (Buy)-Fuelled with capital-Upgrading estim...
​Dewan Housing Finance: Fuelled with capital; Upgrading estimates and target price(DEWH IN, Mkt Cap USD1.8b, CMP INR374, TP INR500, 34% Upside, Buy)DEWH has received all approvals for the sale of stake in its insurance JV to a wholly-owned subsidiary. The final valuation for the 50% stake has been set at INR20b (upper end of the range provided earlier).We upgrade our estimates as well as target price, given significant accretion to net worth without any shareholding dilution. Given the suffici...
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