AI to disrupt banking? Nomura initiates coverage on 3 NBFC stocks that can beat banks for next 15 years
Analysis of this story by et_markets · 12 Mar 2026, 11:22 AM IST (about 2 months ago)
AI Analysis
The banking sector is currently facing inflation fears and potential rate hikes, while NBFCs are seen as agile players leveraging technology. This report highlights a potential long-term shift in market preference towards tech-savvy NBFCs.
Trading Insight
Look for entry points in NBFCs with strong AI integration and diversified product offerings, maintaining a medium to long-term bullish bias.
Quick check: TATACAPITAL neutral, LTF bearish bias (-3.6% 1d).
Key Evidence
- •Nomura initiated 'Buy' ratings on Tata Capital, L&T Finance, and Piramal Finance.
- •The brokerage cited expanding product portfolios and rapid adoption of AI-driven lending engines as key drivers.
- •Nomura expects NBFCs to outpace banks over the next 15 years.
- •Growth drivers include MSME credit gaps, digital data analytics, and rising retail penetration.
- •Risk flag: Regulatory changes impacting NBFCs
Affected Stocks
TATACAPITALTata Capital
Positive
Nomura initiated 'Buy' rating due to expanding product portfolio and AI-driven lending.
LTFL&T Finance Holdings Ltd
Positive
Nomura initiated 'Buy' rating due to expanding product portfolio and AI-driven lending.
PIRAMALENTPiramal Enterprises Ltd
Positive
Nomura initiated 'Buy' rating due to expanding product portfolio and AI-driven lending.
Sources and updates
Original source: et_markets
Published: 12 Mar 2026, 11:22 AM IST
Last updated on Anadi News: 12 Mar 2026, 11:39 AM IST
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