NBFC Stocks: Piramal Finance,

LTF

, Tata Capital, and HDB Financial get bullish nod as Nomura flags AI-led growth

Nomura has turned bullish on select NBFC stocks, initiating coverage on Piramal Finance, L&T Finance, and Tata Capital with 'Buy' ratings. The brokerage also initiated coverage on HDB Financial Services with a 'Neutral' rating, citing strong sector tailwinds from rapid loan-book diversification, rising retail focus and increasing adoption of artificial intelligence in lending. The brokerage expects intensifying competition and AI-led underwriting to drive faster credit penetration and higher-yield growth, while projecting robust AUM expansion across leading NBFCs over a period of time. Nomura has assigned Piramal Finance a target price of Rs 2,150, and L&T Finance received a target price of Rs 325. The brokerage gave a target price of Rs 400 to Tata Capital and a target price of Rs 760 to HDB Financial Services.