Credit Services
Tata Capital Limited (tatacap) Raises USD 400 Million Through International Bond Market
Tata Capital Limited (TATACAP) successfully raises USD 400 million through a 3.5-year bond, marking a significant step in diversifying its funding sources.
Tata Capital Limited (TATACAP) has successfully raised USD 400 million through a Fixed Rate Senior Unsecured Reg S Bond with a 3.5-year tenor. This transaction marks a significant milestone for the company, as it diversifies its funding sources and extends its access to international capital markets. The bond was priced at UST + 107 bps, reflecting strong demand from investors.
Key Transaction Highlights
The bond issuance has several notable features:• Tata Capital remains the only Indian private sector NBFC to have accessed the USD bond market with an Investment Grade rating at the time of issuance.• The transaction achieved the highest tightening for a single-tranche Investment Grade USD bond issuance from India in 2026, tightening by 33 bps from initial price guidance (UST + 140 bps) to final pricing (UST + 107 bps).• The bond is a USD 400 million Fixed Rate Senior Unsecured Reg S issuance.• The international issuance ratings are BBB (S&P, Stable).
Broad Participation from Global Investors
The transaction witnessed broad participation from investors in Asia and EMEA, including asset managers, insurance companies, banks, and other institutional investors. The Company engaged with global fixed income investors across Hong Kong, Singapore, and London. HSBC, MUFG, and Standard Chartered Bank acted as Joint Global Coordinators and Joint Bookrunners for the transaction.
Commenting on the successful issuance, Rajiv Sabharwal, Managing Director and Chief Executive Officer, Tata Capital Limited, said: “We’re grateful to global investors for the strong response to our second USD bond issuance. It is also our first issuance following our S&P BBB rating upgrade and successful equity listing, and an important step in further diversifying our funding mix and extending our access to international capital markets. It strengthens our liability profile and supports our long-term growth strategy.”
This bond issuance is a testament to Tata Capital Limited’s strong financial standing and its ability to attract high-quality investors globally. As the third largest diversified Indian NBFC, Tata Capital continues to expand its footprint and enhance its financial services offerings.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Tata Capital Limited
Tata Capital Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
Tata holds in the upper half of its 52-week range, a sign the market backs the stock. Industry-leading margins of 37.8% reflect exceptional pricing power and operational efficiency. Revenue grows at 0.0% CAGR. The company generates cash but does not compound aggressively. The stock trades at 83% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. The stock rises 0.0% in three months on 0.0% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Tata Capital Limited.
Credit Services
L&t Finance Limited (LTF) Records Highest Ever PAT of Rs. 975 Crore for Q2fy27
L&T Finance Limited (LTF) announced a record consolidated PAT of Rs. 975 crore for Q2FY27, up 33% YoY, with a 28% YoY growth in consolidated book.
L&T Finance Limited (LTF) announced its financial results for the second quarter ended September 30, 2026, marking a record consolidated Profit After Tax (PAT) of Rs. 975 crore for Q2FY27, up 33% year-on-year (YoY). The company also achieved its highest ever consolidated book of Rs. 1,36,635 crore, up 28% YoY. The robust Q2FY27 retail disbursements at Rs. 24,027 crore reflect continued business momentum.
Record Financial Performance
The company’s strong performance is underscored by its highest ever consolidated PAT, demonstrating a resilient business model and disciplined execution. The consolidated book growth of 28% YoY and retail disbursements growth of 27% YoY highlight the company’s focus on profitable, risk-calibrated growth.
Technological Advancements
Accelerating its technology deployment, LTF is evolving into an AI-native lender. The company’s PLANET app reinforced its status as a core digital engine, surpassing 2.7 crore downloads and servicing 94% of total service requests. The app’s dedicated rural interface with multilingual capabilities further strengthened its rural reach.
Future Outlook
As LTF progresses on its Lakshya 2031 journey, the company remains focused on strengthening its granular distribution channels, expanding its branch footprint, and enhancing its digital acquisition capabilities. Investments in artificial intelligence are expected to drive greater operational efficiency and build a more agile, scalable, and resilient organization.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of L&T Finance Limited
L&T Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
L&T falls 15.5% over three months and has not found a floor yet. D/E reaches 3.60. High leverage in this environment is a material risk the market cannot ignore. Industry-leading margins of 33.1% reflect exceptional pricing power and operational efficiency. Sellers drive 1.5x the volume of buyers. Furthermore, they controlled 17 of recent sessions versus 13 for buyers — a clear distribution signal. The business compounds at 17.7% revenue and 22.5% profit CAGR, with D/E of 3.60. Yet the stock drops 15.5% in three months. The business does not deteriorate — the stock does. That gap is what long-term investors look for. Check Fundamentals of L&T Finance Limited.
Credit Services
Iifl Finance Limited (iifl) Q2fy27: PAT at ₹805 Cr, Up 13% Qoq; AUM Crosses ₹1.24 Lakh Cr
IIFL Finance Limited (NSE: IIFL) announced Q2FY27 results with PAT up 93% YoY at ₹805 Cr, AUM crossing ₹1.24 lakh Cr.
IIFL Finance Limited (NSE: IIFL), a leading retail-focused NBFC, announced its financial results for the quarter ended September 30, 2026, showcasing strong growth and robust profitability. The company reported a Profit After Tax (PAT) of ₹805.0 Cr, marking a 93% year-on-year growth, driven by its secured lending strategy and improved operating efficiency.
Performance Overview
IIFL Finance delivered a robust quarter with consistent growth across its core businesses. Total income rose 23% year-on-year to ₹2,339.6 crore, while pre-provision operating profit increased 31% YoY to ₹1,355.1 crore. Profit before tax rose 93% YoY to ₹1,073.7 crore, supported by operating leverage and lower loan losses and provisions.
Key Highlights
Consolidated Assets Under Management (AUM) grew to ₹1,24,268 Cr, up 8% quarter-on-quarter and 38% year-on-year. The Return on Equity (ROE) stood at 20.1% (annualized for H1FY27), reflecting strong gold and mortgage franchises, lower credit costs, and improved operating efficiency. The company also completed a ₹25 crore tokenised bond transaction, becoming the first Non-PSU NBFC in India to undertake such a transaction.
The company continues to focus on its strategy of ‘Resilient, Capital-Efficient Growth’ anchored on secured lending focus, expansion in underserved MSME and Bharat segments, AI-led operating model, and branch-led distribution with hyperlocal sourcing.
As the company enters the rest of FY27, it remains well-positioned to fund growth while maintaining balance-sheet resilience and capital discipline.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of IIFL Finance Limited
IIFL Finance Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
IIFL posts a 4.9% three-month gain, but softens in the last few weeks. The PEG reaches 3.62, hard to justify given the growth. The market prices in a turnaround that has not arrived. D/E reaches 3.69. High leverage in this environment is a material risk the market cannot ignore. The stock gives back 1.0% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at 13.6% CAGR and the PEG stands at 3.62. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of IIFL Finance Limited.
Credit Services
Fedbank Financial Services Limited (fedfina) Q2 FY27: PAT Up 63.1% Yoy
Fedbank Financial Services Limited (FEDFINA) reports a 63.1% YoY increase in PAT for Q2 FY27, with strong growth in net interest income and operating profit.
Fedbank Financial Services Limited (FEDFINA) has announced its financial results for the second quarter of FY27, showcasing a robust performance with a 63.1% year-on-year increase in Profit After Tax (PAT). The company, a leading retail-focused NBFC specializing in Loan Against Property and Gold Loans, reported a PAT of ₹130.8 Cr for Q2 FY27, up from ₹80.2 Cr in the same quarter last year. This impressive growth is supported by a 37.4% YoY increase in net interest income to ₹403.7 Cr and a 47.5% YoY rise in operating profit to ₹205.1 Cr.
Financial Highlights
FEDFINA’s Asset Under Management (AUM) increased by 36.6% YoY to ₹22,035 Cr in Q2 FY27, while disbursements grew by 28.3% YoY to ₹6,676 Cr. The company’s net interest income grew by 38.3% YoY to ₹404.8 Cr, and the return on average equity (ROE) stood at 17.0%, reflecting strong financial health.
Operational Growth
The company’s operational efficiency is evident with a 9.8% QoQ increase in branches, bringing the total to 831 across 18 states and union territories. The employee count also rose by 10.1% QoQ to 5,920, highlighting FEDFINA’s expansion and commitment to its workforce.
As FEDFINA continues to empower emerging India with easy access to loans, its strong financial and operational performance underscores its leadership in the NBFC sector. Looking ahead, the company remains focused on delivering sustainable growth and value to its stakeholders.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Fedbank Financial Services Limited
Fedbank Financial Services Limited belongs to the Financial Services › Credit Services sector. Here’s a quick read on where the business and the stock stand today.
Fedbank gains 15.6% over three months and trades near its 52-week highs. The PEG of 0.75 signals undervaluation relative to growth. It is a potential re-rating candidate. D/E reaches 4.10. High leverage in this environment is a material risk the market cannot ignore. The stock trades at 75% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. Both the business and the stock move in the right direction. Revenue grows at 24.2%, profits at 24.0%, and the PEG sits at 0.75 — below its growth rate. That combination is rare. Check Fundamentals of Fedbank Financial Services Limited.
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