NBFC Stocks Rally After RBI Postpones Asset Classification Norms
Автор: ET Now
Загружено: 2022-02-15
Просмотров: 169
Описание:
NBFC stocks rallied between 2-8% after RBI deferred the new asset classification norms till Sept. 30. In Q3FY22 most of the NBFCs had to provide additional provisioning in order to align with RBI directives. A significant spike in NPAs was seen for vehicle financiers.
One of the biggest beneficiaries for this announcement includes Mahindra Finance, where Morgan Stanley reported that the company is likely to postpone Rs 500-1500 crore provision for Q4FY22, which the management had guided.
NPA ratios are expected to come down in Q4FY22, however, the reversal of additional provisions made in Q3FY22 is unlikely to happen.
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