Sector Update - CV Financiers Structural weakness persists for FY22; stay selective
Our extensive channel checks across first time buyers, small & large fleet operators and credit heads are suggestive of a bleak 9MFY22 for CV...
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Cholamandalam Invesment & Finance: Strong Operating Performance; Pressure on Asset Quality
We maintain HOLD with a target price of 570 (3.7x FY23 P/ABV). Cholamandalam Invesment & Finance (CIFC) Q1FY22 performance was a mixed bag.
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HSIE Results Daily: NTPC, IOC, Britannia and More
NTPC: Generation/sales increased 19.2%/19.3% YoY to 71.7bn/66.6bn unit in Q1FY22 on the back of demand recovery. Coal PAF, however, declined in...
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NBFCs: Pandemic year navigated; recovery interrupted
We reiterate CIFC among larger NBFCs and CREDAG among mid-sized ones as our top picks within our universe. As REPCO finally brought the curtain...
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