External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Bandhan reported a sequential improvement in credit growth,with advances growing at 12/4% YoY/QoQ.</li><li>This was led by the EEB segment growing at 5% QoQ (flat YoY) and the nonEEB book growing healthily at 28/3% YoY/QoQ.</li><li>Disbursements rebounded after a seasonally weak Q1 and grew by 26/75% YoY/QoQ. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Bandhan reported a sequential improvement in credit growth,with advances growing at 12/4% YoY/QoQ.This was led by the EEB segment growing at 5% QoQ (flat YoY) and the nonEEB book growing healthily at 28/3% YoY/QoQ.Disbursements rebounded after a seasonally weak Q1 and grew by 26/75% YoY/QoQ. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>India’s heterogenous unsecured retail credit market (US$160bn, 3-year CAGR at ~23%) has been in the headlines ever since the RBI clamped down on select categories of consumer credit</li><li>Our discussions with experts suggest that the RBI’s note of caution is largely centred on small-ticket personal loans (STPL) (ticket size</li><li>The RBI’s risk-weight measures are likely to increase the hurdle rate for banks and NBFCs towards unsecured consumer loans, resulting in a material growth deceleration</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India’s heterogenous unsecured retail credit market (US$160bn, 3-year CAGR at ~23%) has been in the headlines ever since the RBI clamped down on select categories of consumer creditOur discussions with experts suggest that the RBI’s note of caution is largely centred on small-ticket personal loans (STPL) (ticket sizeThe RBI’s risk-weight measures are likely to increase the hurdle rate for banks and NBFCs towards unsecured consumer loans, resulting in a material growth decelerationContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Leveraged Financials: Emerging Long-Tail Risks in Unsecured Credit

<ul><li>Wipro: Wipro’s (WPRO) revenue regressed with the third successive quarter of sequential decline</li><li>Factors driving the underperformance of WPRO continued such as (1) higher consulting/discretionary mix in portfolio (including Capco), (2) broad-based impact across verticals (two-thirds of the business posted sequential decline), and (3) disconnect between bookings and revenue growth (USD 3.5bn large deal wins yet annual revenue run-rate lower by USD 0.8bn in three quarters)</li><li>This was exacerbated by a weak guide for Q3 (-3.5% to -1.5% QoQ CC) due to the higher-than-usual impact of furloughs</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro: Wipro’s (WPRO) revenue regressed with the third successive quarter of sequential declineFactors driving the underperformance of WPRO continued such as (1) higher consulting/discretionary mix in portfolio (including Capco), (2) broad-based impact across verticals (two-thirds of the business posted sequential decline), and (3) disconnect between bookings and revenue growth (USD 3.5bn large deal wins yet annual revenue run-rate lower by USD 0.8bn in three quarters)This was exacerbated by a weak guide for Q3 (-3.5% to -1.5% QoQ CC) due to the higher-than-usual impact of furloughsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Wipro, LTIMindtree, Bajaj Auto, IndusInd Bank, Bandhan Bank, Can Fin Homes

<ul><li>Avenue Supermarts: Revenue grew by 18.1% (four-year CAGR: 19.0%)</li><li>Sales density remains sub-par vis-a-vis the pre-pandemic level (~INR34.2k/sq ft in Q1FY24 vs INR36.7k/sq ft in Q1FY20, in-line)</li><li>Lower discretionary purchases vs pre-pandemic levels (general merchandise’s contribution trending towards pre-pandemic times though) kept underlying profitability/unit economics weak</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Avenue Supermarts: Revenue grew by 18.1% (four-year CAGR: 19.0%)Sales density remains sub-par vis-a-vis the pre-pandemic level (~INR34.2k/sq ft in Q1FY24 vs INR36.7k/sq ft in Q1FY20, in-line)Lower discretionary purchases vs pre-pandemic levels (general merchandise’s contribution trending towards pre-pandemic times though) kept underlying profitability/unit economics weakContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Avenue Supermarts, Bandhan Bank

HSIE Results Daily -  Avenue Supermarts, Bandhan Bank

India

Punjab & Sind Bank is a commercial bank. The Bank offers its customers a wide range of banking products and services.

PNB Housing Finance Ltd. (PNBHFL) provides lending services. The Company offers housing loans to individuals and corporate bodies for construction, purchase, repair, and upgradation of houses, as well as loans for commercial space, loan against property, and loan for purchase of residential plots. PNBHFL serves customers in India.

Federal Bank Limited operates branches and regional offices throughout India. The Bank offers a wide range of financial services, including merchant banking, international banking and foreign exchange, leasing facilities, money markets and agricultural advances. The Bank also provides lending for hi-tech agricultural and government sponsored schemes.

Bank of Maharashtra Ltd. provides a full range of banking services throughout India. The Group's activities include retail banking, commercial and personal banking, investment management, treasury & NRI services, cash management and assorted ATM facilities. Bank of Maharashtra also sponsors regional rural banks jointly with the Central Government and State Government.

Karur Vysya Bank Ltd. provides a full range of commercial banking services for retail and institutional customers. The Bank offers mutual funds, insurance, personal loan, fixed deposits, internet banking, gold and silver, lockers, credit cards, and agricultural finance. Karur Vysya Bank serves customers throughout India.

RBL Bank Limited operates as a commercial bank. The Company offers banking products and services such as savings accounts, fixed deposits, personal and business loans, debit and credit cards, insurance, investment management, and mobile banking. RBL Bank serves customers throughout India.

AU Small Finance Bank Limited operates as a commercial bank. The Bank offers financial products and services such as savings and current accounts, term deposits, debit cards, insurance, government banking, retail loans, and microfinance lending. AU Small Finance Bank serves customers in India.

AU Small Finance Bank Limited (AUBANK IN)

Ujjivan Small Finance Bank Limited operates as a bank. The Company offers various types of financial services such as saving account, deposits, loans, and insurance solutions. Ujjivan Small Finance Bank serves customers in India.

Ujjivan Small Finance Bank  (UJJIVANS IN)

The Jammu & Kashmir Bank Limited provides banking services, including CD's, educational loans, housing loans and car loans.  The Bank also provides insurance services through a joint venture with MetLife India Insurance Company. The Group has about 475 branches throughout India.

City Union Bank Ltd. is a full service bank. The Bank offers a wide range of banking and financial services across India, including both domestic and International banking services.

Atlantic Union Bankshares Corporation provides banking services. The Bank checking accounts, lending, credit cards, online and mobile banking, and wealth and treasury management services. Atlantic Union Bankshares serves customers in the United States.

International Bancshares Corporation, through its bank subsidiaries, provides commercial and retail banking services through offices in south and southeast Texas.  The Bank accepts deposits from the general public and uses those funds to make a variety of loans.

Fulton Financial Corporation is a multi-bank holding company. The Banks offer a full range of general retail and commercial banking services, including deposits, loans, equipment leasing and financing, and credit cards. Fulton operates in Pennsylvania, Maryland, Delaware, and New Jersey.

The Bank of East Asia, Limited and its subsidiaries provide general banking, related financial, business corporate, and investor services.

Huishang Bank Corporation Limited is a commercial bank. The Bank provides banking services including loans, money market operations, treasury business, investment and trading services, and valet transactions.

Taichung Commercial Bank conducts commercial banking and trust business.  The Bank accepts deposits, offers loans, as well as  invests in bonds and stocks. Taichung Commercial Banks provides bills and notes discounting, draft endorsement, domestic remittance, guarantee, and securities underwriting and brokerage services.

The Bank of Kyoto, Ltd. is a regional bank in Kyoto.  The Bank provides banking services including deposits, savings, loans, foreign exchange transactions, and securities investments.  The Bank of Kyoto also provides financial services such as letter of credit, leasing, loans, and credit cards.

Hong Leong Financial Group Berhad is a banking and financial services holding company. The Company provides a range of services including commercial and consumer banking, investment banking, and insurance broking. Through its subsidiaries, Hong Leong Financial underwrites life/general insurance, provides funds management, corporate advisory, and stock and share broking services.

Ameris Bancorp is a multi-bank holding company. The Banks provide a broad range of retail and commercial banking services to its customers, including checking and savings deposits, commercial and consumer loans, trust services, discount brokerage services, and electronic funds transfer services. Ameris Bancorp operates in Georgia, Florida, and Alabama.

United Community Banks, Inc. is a multi-bank holding company with locations throughout north Georgia and western North Carolina.  The Banks are community oriented and offer retail and corporate banking services including checking, savings, and time deposit accounts, secured and unsecured loans, wire transfers, trust services, and rental of safe deposit boxes.

Bandhan Bank Limited operates as a commercial bank. The Bank provides accounts checking, savings deposits, money market, mortgage, and term loans services, as well as card facilities and Internet banking services. Bandhan Bank serves customers in India.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Bandhan Bank Ltd (BANDHAN IN)

Bandhan Bank Ltd - Asset Quality Weak

Bandhan reported a sequential improvement in credit growth,with advances growing at 12/4% YoY/QoQ. This was led by the EEB segment growing at 5%...

Axis Direct

Leveraged Financials: Emerging Long-Tail Risks in Unsecured Credit

India’s heterogenous unsecured retail credit market (US$160bn, 3-year CAGR at ~23%) has been in the headlines ever since the RBI clamped down on...

HDFC Securities

HSIE Results Daily: Wipro, LTIMindtree, Bajaj Auto, IndusInd Bank, Bandhan Bank, Can Fin Homes

Factors driving the underperformance of WPRO continued such as (1) higher consulting/discretionary mix in portfolio (including Capco)

HDFC Securities

HSIE Results Daily: Avenue Supermarts, Bandhan Bank

Avenue Supermarts: Revenue grew by 18.1% (four-year CAGR: 19.0%) Sales density remains sub-par vis-a-vis the pre-pandemic level (~INR34.2k/sq ft...

HDFC Securities

HSIE Results Daily - Avenue Supermarts, Bandhan Bank

Avenue Supermarts: Revenue grew by 18.1% (four-year CAGR: 19.0%). Sales density remains sub-par vis-a-vis the pre-pandemic level

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)