Overweight Bharat Financial Inclusion with a target of Rs 1125: Morgan Stanley

Morgan Stanley has an overweight call on Bharat Financial Inclusion Ltd. with a target price of Rs 1125 . The current market price of Bharat Financial Inclusion Ltd. is 858 . Time period given by the brokerage firm is a year when Bharat Financial Inclusion Ltd. price can reach defined target. Good numbers with better risk metrics add to our positive outlook but a net profit of 3 per cent was below MS estimates. The net interest income (NII) was below estimates, operating costs were higher which was partially offset by lower provisions. The operating efficiency was good and asset quality was stable, said the MS note. The non-AP AUM growth was strong at 66 per cent year-on-year (YoY), and 7 per cent on a quarter-on-quarter (QoQ) basis. The disbursements growth strong at 51 per cent YoY.