Buy PNB Housing Finance Ltd For Target Rs. 1,150 by Motilal Oswal Financial Services Ltd
* Total loan growth of ~15% YoY and Retail Loan growth of ~18% YoY.
* NIM is expected to contract ~5bp QoQ.
* Expect provision write-backs from recoveries in both Retail and Corporate written-off pools.
* Commentaries on the asset quality of the retail loan book, NIM, and credit costs are the key monitorables.

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