MAS is a really respected company, hence valuations are higher. Vehicle finance is an easy play. Like AU bank. Cheaper spectrum like 2/3 wheeler has bigger margins. Maybe this market will be big hit in next few quarters.
Microfin is likely explained here:
I have not followed it in detail. It is like Bajaj Fin, pent up demand for finance with good recovery rates. Banks do not reach the lower spectrum and margins are good, but lately market is getting crowded. Though as economy recovers/becomes 5 trillion takas, hopefully some benefits will spread.
Spandana has survived two big blows and is among the top 2-3 by size in this sector, and their metrics are simply amazing. This one is going to be with me for few years looks like.
The problem for sometime, maybe till year end will be lack of fresh loan issues. So growth will come down for FY21. This can pick up only after 1-2 more quarters, though agriculture is showing good growth so it might be earlier.