Which NBFCs will gain the most from rate hike cycle? JM Financial lists top picks

JM Financial highlights how soaring bond yields and policy rate hikes impact Indian NBFCs. While housing finance companies like LIC Housing Finance and PNB Housing Finance stand to benefit on NIMs, vehicle and MFI lenders face headwinds. Top stock picks include Aditya Birla Capital, Piramal Finance, and CreditAccess Grameen.