New Delhi, Oct. 31 -- Shares of MAS Financial Services Limited have declined nearly 8.32% in two weeks and around 28.22% over the last six months. Despite the decline, InCred Equities sees 58.1% upside potential in the NBFC stock given its healthy quarterly earnings, strong MSME demand, diversified lending and distribution channels.

MAS Financial Services share price closed 3.69% lower on Friday, October 30. The correction in the NBFC stock came despite it reporting a 23% annual jump in its consolidated net profit and accelerated asset under management (AUM) growth in the second quarter of financial year 2026-27.

The Gujarat-headquartered NBFC is well-positioned to post healthy growth, supported by strong MSME demand, diversified lendin...