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

Motilal Oswal

External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<ul><li>AXSB has progressed well over past few years and has strengthened its balance sheet by making it granular, increasing the mix of retail loans and improving its PCR.</li><li>As a result, its key metrics such as loan growth, margins and profitability have improved.</li><li>Loan growth is witnessing a healthy recovery with 14-18% growth over the past four quarters (vs 13% CAGR over FY19-22), driven by retail loans (18% CAGR).</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.

AXSB has progressed well over past few years and has strengthened its balance sheet by making it granular, increasing the mix of retail loans and improving its PCR.As a result, its key metrics such as loan growth, margins and profitability have improved.Loan growth is witnessing a healthy recovery with 14-18% growth over the past four quarters (vs 13% CAGR over FY19-22), driven by retail loans (18% CAGR).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.

Axis Bank - Growth Outlook Gaining Traction

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.

<ul><li>Axis Bank (AXSB) showcased its transformation journey and outcomes over the past three years</li><li>The heavy Tech investments (2.5x in past 3 years) and re-jigged portfolio granularity on both sides of the balance sheet are gradually yielding positive results at the margin</li><li>While AXSB is likely to continue its investment phase, resulting in elevated opex ratios, the bank is incrementally focused on high-yielding profit pools by leveraging its branch network, digital capabilities and partnerships to drive productivity gains</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.

Axis Bank (AXSB) showcased its transformation journey and outcomes over the past three yearsThe heavy Tech investments (2.5x in past 3 years) and re-jigged portfolio granularity on both sides of the balance sheet are gradually yielding positive results at the marginWhile AXSB is likely to continue its investment phase, resulting in elevated opex ratios, the bank is incrementally focused on high-yielding profit pools by leveraging its branch network, digital capabilities and partnerships to drive productivity gainsContent 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.

Axis Bank (Update): Future-Proofing Efforts Meet Early-Stage Gains. Maintain BUY

<ul><li>We attended AXSB analyst day, where the management demonstrated its investments toward building its digital capabilities.</li><li>The company continues to focus on providing an end-to-end digital journey with a seamless and improved customer experience.</li><li>Various digital capabilities along with partnerships in the ecosystem are driving strong growth and helping the bank emerge as a robust customer acquisition engine.</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.

We attended AXSB analyst day, where the management demonstrated its investments toward building its digital capabilities.The company continues to focus on providing an end-to-end digital journey with a seamless and improved customer experience.Various digital capabilities along with partnerships in the ecosystem are driving strong growth and helping the bank emerge as a robust customer acquisition engine.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.

Axis Bank - Growing Franchise Through Technological Capabilities

Axis Bank - Future-Proofing Efforts Meet Early-Stage Gains

Thematic (Sector/Industry)

<ul><li>Q2FY23 earnings season saw an overall in-line performance, with wide divergences across sectors and companies</li><li>Aggregate revenue/PAT grew by 31%/4% YoY across the HSIE coverage universe (~206 stocks), their three-year CAGR being 17%/13%</li><li>Our coverage universe saw strong YoY growth in auto, banking, consumer discretionary, industrials, chemicals, and real estate segments</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.

Q2FY23 earnings season saw an overall in-line performance, with wide divergences across sectors and companiesAggregate revenue/PAT grew by 31%/4% YoY across the HSIE coverage universe (~206 stocks), their three-year CAGR being 17%/13%Our coverage universe saw strong YoY growth in auto, banking, consumer discretionary, industrials, chemicals, and real estate segmentsContent 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 Equity Strategy: Cost inflation peaked out; margin recovery on the horizon

India

Axis Bank Limited provides a full range of banking services throughout India. The Group's activities include retail banking, investment management, merchant banking, treasury and NRI services, cash and credit management services, and ATM facilities.

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Axis Bank Ltd (AXSB IN)

Axis Bank - Growth Outlook Gaining Traction

AXSB has progressed well over past few years and has strengthened its balance sheet by making it granular, increasing the mix of retail loans and...

Motilal Oswal

Axis Bank (Update): Future-Proofing Efforts Meet Early-Stage Gains. Maintain BUY

The heavy Tech investments (2.5x in past 3 years) and re-jigged portfolio granularity on both sides of the balance sheet are gradually yielding...

HDFC Securities

Axis Bank - Growing Franchise Through Technological Capabilities

We attended AXSB analyst day, where the management demonstrated its investments toward building its digital capabilities.

Motilal Oswal

Axis Bank - Future-Proofing Efforts Meet Early-Stage Gains

The heavy Tech investments (2.5x in past 3 years) and re-jigged portfolio granularity on both sides of the balance sheet are gradually yielding...

HDFC Securities

India Equity Strategy: Cost inflation peaked out; margin recovery on the horizon

Q2FY23 earnings season saw an overall in-line performance, with wide divergences across sectors and companiesAggregate revenue/PAT grew by 31%/4% YoY

HDFC Securities

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