Magma Fincorp - Change In Controlling Stake, Promoter, Management - A Welcome Move: ICICI Securities  
Adar Poonawalla. (Photographer: Dhiraj Singh/Bloomberg)

Magma Fincorp - Change In Controlling Stake, Promoter, Management - A Welcome Move: ICICI Securities  

BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Magma Fincorp Ltd.’s proposal for change in controlling stake, new promoter and stronger management to Rising Sun Holdings (controlled by Mr. Adar Poonawalla) bodes well for an otherwise niche franchise that has been in transition for several years.

Business re-organisation and consolidation phases have depressed the stock’s valuation for long.

We expect the new promoter group and management to leverage the niche positioning of Magma’s product, geography and customer franchise to improve the group’s market positioning and capitalise on upcoming opportunities.

Click on the attachment to read the full report:

ICICI Securities Magma_Fincorp Update.pdf

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