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When a Phase One Stock Achieves Target Price - Views on News from Equitymaster

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When a Phase One Stock Achieves Target Price
May 2, 2018

As I write this, one of our Phase One Recommendations - Arman Financial Services Ltd, has crossed its initial target price of Rs 440.

I must say that the stock price performance has been much ahead of my expectations, and is indeed a positive surprise.

We had recommended this microfinance stock when the economy was going through the pangs of demonetization. Microfinance was undoubtedly the worst hit sector among all. And the stock had corrected 20% from its peak.

But speaking to the management, I found their approach to growth and handling risks a lot more prudent than the peers in the sector who were only focusing on expansion.

Our bet on the management has paid off quite well.

With the demontisation dust settling down, the company has emerged even stronger. It has been quick to adapt its business model (entering MSME segment, reducing concentration in microfinance segment, focusing on cashless transactions and geographical diversification) to the changing landscape. And this is evident from the strong financial performance the company has been reporting over last few quarters.

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