Brokerage firm JPMorgan has initiated coverage on newly listed Tata Group stock, Tata Capital Ltd. with an "overweight" rating on Wednesday, November 19.

JPMorgan has a price target of ₹370 per share, which implies a potential upside of 15% from Tuesday's closing levels.

Tata Capital is uniquely positioned to delivery system-leading growth and gain market share, backed by its strong liability profile, a comprehensive product mix and an extensive omnichannel distribution network, JPMorgan wrote in its note.

The brokerage added that Tata Capital's "risk before growth" approach drives its best-in-industry Gross NPA levels and credit costs, and that gives JPMorgan the confidence in the company's ability to weather the asset quality downcycles without taking a major hit.

Although JPMorgan s

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