Leveraged Financials: ‘Pause and Effect’ - interesting trade-offs ahead
As banks and NBFCs navigate the growth-margin trade-off, we argue that the combination of lower growth and lower spreads is not priced into valuations
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Housing Finance: New market structures open up investment universe
India’s home loan (HL) market (INR26trn, 17% of overall credit) is poised to double by FY28E on the back of secular trends around improving...
496 Views
India Equity Strategy: Commodity pressure easing, margin expansion on the cards
Aggregate revenue/PAT grew by 19%/6% YoY across the HSIE coverage universe (~208 stocks), their three-year CAGR being 15%/15%
247 Views
HSIE Results Daily: Axis Bank, UltraTech Cement, Tanla Platforms, Karur Vysya Bank
Axis Bank (AXSB) delivered a beat, led by better margins (4.3%) and strong fee income traction (+18% QoQ), partly offset by a one-off impairment...
260 Views
HSIE Results Daily: Axis Bank, UltraTech Cement
Axis Bank (AXSB) delivered a beat, led by better margins (4.3%) and strong fee income traction (+18% QoQ), partly offset by a one-off impairment...
256 Views