JM Financial Services has initiated coverage on Tata Capital from the very first day of the stock’s trading. The brokerage has an ‘Add’ rating, with a target price of Rs 360, implying an upside of 10% from the current market price.

Here are four factors powering JM Financial’s investment decision and why they initiated coverage on the newly listed financial arm of the Tata Group-

JM Financial on Tata Capital: Highest credit rating

Tata Capital benefits significantly from its strong parentage of the Tata group, which is recognised as one of India’s most respected business conglomerates with a legacy spanning over 150 years. This Group backing provides the company a high credibility and easy access to capital.

Plus, Tata Capital enjoys the highest possible credit rating of AAA/Stable fro

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