India's MAS Financial Services rises; Equirus initiates with 'long', Street-high PT
** Shares of non-banking finance co MAS Financial Services MASF.NS rise 2.6% to 290 rupees
** Equirus Securities initiates coverage with "long" rating, equivalent to a "strong buy" as per LSEG data
** Sets PT of 401 rupees, the highest of four brokerages covering MASF
** Forecasts 25% and 24% CAGR for assets under management and profit after tax respectively over FY24-27
** MASF's growth aided by huge opportunities in MSME lending, diversified portfolio and geo-diversification, brokerage says
** MASF has maintained healthy asset quality trends in the last two decades alongside strong tech front to facilitate operations, it says
** "Promoter pedigree, stellar asset quality track record and healthy capitalisation" aids growth for MASF
** Avg rating on the stock is equivalent of a "strong buy", median PT is 355 rupees
Reporting by Dimpal Gulwani in Bengaluru
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