16 Jul 2018 | 11:20 PM
Research Report

Equity Research Report: Religare Investment Pick

CIFC is a part of the Murugappa group, a leading business conglomerate founded in 1900. The company leases industrial plant and machinery. It offers fund-based financial services like hire purchase, leasing, auto finance, trade finance and services in non-fund areas like merchant banking.
30 Mar 2015 | 10:26 AM

Key Triggers


  • CIFC has invested heavily towards building its branch network in the last 3-4 years, growing at a 35% CAGR over FY10-FY14 to ~600 branches from 171 in FY10.
  • CIFC plans to cross-sell small loans to customers of group companies. The cost of sourcing these loans will be lower.
  • Strong and reputed promoter enhances market credibility.
  • Recent stake sale to boost tier 1 capital– precursor for a better credit rating.