External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

External broker reports(aggregated public sources)

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

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

AU Small Finance Bank Limited / Equity Bottom-Up

<div><div><div><div><ul><li>Strong growth momentum but may face margin headwinds in a rising interest rate scenario</li></ul><div><div><div><ul><li>Bank finally shores up specific PCR, drawing down counter-cyclical buffer</li></ul><div><div><div><div><ul><li>Outlook and valuations: We expect the bank to report healthy RoA/RoE of ~1.9%/18%-21% over FY22-25E, led by strong growth and moderating LLP.</li></ul></div></div></div></div></div></div></div></div></div></div></div><p><em>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.</em></p>

Strong growth momentum but may face margin headwinds in a rising interest rate scenarioBank finally shores up specific PCR, drawing down counter-cyclical bufferOutlook and valuations: We expect the bank to report healthy RoA/RoE of ~1.9%/18%-21% over FY22-25E, led by strong growth and moderating LLP.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.

AU Small Finance Bank - Healthy Earnings Beat; Contingency Buffer Draw-Down Boosts PCR

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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.

<div><div><div><div><ul><li>PCR takes a giant leap; business momentum robust; declares 1:1 bonus</li></ul><div><div><div><ul><li>Strong all-round performance; Net NPA ratio significantly lower than pre-COVID levels</li><li>Highlights from the management commentary - The bank is building a tech-led robust retail franchise with several industry-first initiatives.</li></ul></div></div></div></div></div></div></div><p><em>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.</em></p>

PCR takes a giant leap; business momentum robust; declares 1:1 bonusStrong all-round performance; Net NPA ratio significantly lower than pre-COVID levelsHighlights from the management commentary - The bank is building a tech-led robust retail franchise with several industry-first initiatives.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.

AU Small Finance Bank - Stellar Performance!

External broker reports(aggregated public sources), Axis Direct

Axis Direct

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.

<ul><li>AU Small Finance Bank Ltd. (AUSFB) reported a strong performance which was broadly in line with our expectations.</li><li>The asset quality improvement trend continued as GNPA improved by 60bps to 2% vs 2.6% QoQ aided by strong recoveries/upgrades along with moderation in slippages</li><li>We maintain our BUY recommendation on the stock and value AUSFB at 4.8x FY24E ABV to arrive at a target price of Rs 1,560/share, implying an upside of 10% from CMP.</li></ul><p><em>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.</em></p>

AU Small Finance Bank Ltd. (AUSFB) reported a strong performance which was broadly in line with our expectations.The asset quality improvement trend continued as GNPA improved by 60bps to 2% vs 2.6% QoQ aided by strong recoveries/upgrades along with moderation in slippagesWe maintain our BUY recommendation on the stock and value AUSFB at 4.8x FY24E ABV to arrive at a target price of Rs 1,560/share, implying an upside of 10% from CMP.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.

AU Small Finance Bank: Excellent Quarter, Growth Outlook Robust

Thematic (Sector/Industry)

<ul>
<li>We expect loan growth momentum for banks to sustain on a sequential basis, mainly driven by Retail/SME segments</li>
<li>Deposit growth continues to remain range-bound. However, most banks have reported a healthy CASA growth aiding CoF, thereby supporting margins.</li>
<li>Positive result plays: SBI, ICICI Bank, HDFC Bank, CanFin Homes, SBI Cards, AU Small Finance Bank</li>
</ul>
<p><em>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.</em></p>


We expect loan growth momentum for banks to sustain on a sequential basis, mainly driven by Retail/SME segments
Deposit growth continues to remain range-bound. However, most banks have reported a healthy CASA growth aiding CoF, thereby supporting margins.
Positive result plays: SBI, ICICI Bank, HDFC Bank, CanFin Homes, SBI Cards, AU Small Finance Bank

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.

BFSI Q4FY22 Result Preview – Growth Momentum Robust; Asset Quality Pressures to Ease

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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.

<ul><li>AU Small Finance Bank (AU) has always remained ahead in pre-empting future business trends and building capabilities to serve the evolving needs of customers.</li><li>We derive this view from AU’s past initiatives.</li><li>.</li></ul><div class="content-highlight"><em>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.</em></div>

AU Small Finance Bank (AU) has always remained ahead in pre-empting future business trends and building capabilities to serve the evolving needs of customers.We derive this view from AU’s past initiatives..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.

Reorganises itself into 10 SBUs to ensure sustainability and scalability

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)

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AU Small Finance Bank Limited (AUBANK IN)

AU Small Finance Bank - Healthy Earnings Beat; Contingency Buffer Draw-Down Boosts PCR

AU SFB posted a PAT beat at Rs3.4bn in Q4FY22, led by better NII growth, higher fees and lower taxes, partly offset by higher opex as the bank...

Emkay

AU Small Finance Bank - Stellar Performance!

AUBANK delivered a robust performance with 9% earnings beat led by 43% YoY NII growth, stable margins and double-digit sequential business growth.

Motilal Oswal

AU Small Finance Bank: Excellent Quarter, Growth Outlook Robust

We maintain our BUY recommendation on the stock and value AUSFB at 4.8x FY24E ABV to arrive at a target price of Rs 1,560/share, implying an upside...

Axis Direct

BFSI Q4FY22 Result Preview – Growth Momentum Robust; Asset Quality Pressures to Ease

We expect loan growth momentum for banks to sustain on a sequential basis, mainly driven by Retail/SME segments. Deposit growth continues to remain...

Axis Direct

Reorganises itself into 10 SBUs to ensure sustainability and scalability

AU Small Finance Bank (AU) has always remained ahead in pre-empting future business trends and building capabilities to serve the evolving needs of...

ICICI Securities Limited

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