Edelweiss Securities has initiated coverage on AU Small Finance Bank with a buy rating and target price of Rs 880 apiece, implying 24 percent potential upside from current levels. At 0916 hours IST, it was quoting at Rs 712, up Rs 3.85, or 0.54 percent on the BSE. The non-banking finance company continues to deliver high loan growth without any asset quality …

MUMBAI: AU Small Finance Bank’s profit grew 42 per cent to Rs 118 crore in the March quarter led by a 50 per cent growth in loans for vehicle purchases. Net Interest Income the difference between what it paid for funds and what it earned from lending, nearly to Rs 851 crore from Rs 464 crore. “Capital raise, stable asset quality, adequate liquidity, continued growth momentum …