External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<ul><li>Federal Bank: Federal Bank (FB) reported its highest-ever quarterly earnings, largely on the back of strong loan growth (+20% YoY), margin expansion (+19bps QoQ), sustained fee traction and lower credit costs (38bps annualised)</li><li>FB benefitted from a timing difference in asset/deposit repricing, offsetting higher employee opex (provision for wage revision) and higher provisions for security receipts as per the RBI circular</li><li>FB is confident of leveraging its differentiated FinTech ecosystem partnerships to clock market share gains in high-yield segments and driving further business productivity on both sides of the balance sheet</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.

Federal Bank: Federal Bank (FB) reported its highest-ever quarterly earnings, largely on the back of strong loan growth (+20% YoY), margin expansion (+19bps QoQ), sustained fee traction and lower credit costs (38bps annualised)FB benefitted from a timing difference in asset/deposit repricing, offsetting higher employee opex (provision for wage revision) and higher provisions for security receipts as per the RBI circularFB is confident of leveraging its differentiated FinTech ecosystem partnerships to clock market share gains in high-yield segments and driving further business productivity on both sides of the balance sheetContent 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.

Federal Bank - Closing in on True Franchise Potential

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.

<div><ul><li>Credit growth expected to remain buoyant – The bank’s expectations of doubling the share of high-yielding assets (CV, Credit Cards, and MFI), albeit on a lower base along with core segments sustaining their growth momentum should support robust credit growth of ~19% CAGR over FY23-25E.</li><li>Asset Quality continues to improve – Asset quality trends continue to remain encouraging aided by lower slippages and strong recoveries.</li><li>We expect further improvement in asset quality metrics thereby keeping credit costs steady at ~60bps over the medium term.</li></ul></div>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.

Credit growth expected to remain buoyant – The bank’s expectations of doubling the share of high-yielding assets (CV, Credit Cards, and MFI), albeit on a lower base along with core segments sustaining their growth momentum should support robust credit growth of ~19% CAGR over FY23-25E.Asset Quality continues to improve – Asset quality trends continue to remain encouraging aided by lower slippages and strong recoveries.We expect further improvement in asset quality metrics thereby keeping credit costs steady at ~60bps over the medium term.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.

Federal Bank - Stellar Quarter; RoA Expansion on Track!

Thematic (Sector/Industry)

<ul><li>The credit growth momentum has continued to remain robust as is visible from the near decadal high systemic growth of ~17% YoY, driven by the continued traction in the Retail and SME segments.</li><li>On a segmental basis, Home loans, Auto loans and Credit card outstanding continue to grow well.</li><li>Corporate loans are showing gradual recovery, albeit on a weaker base.</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.

The credit growth momentum has continued to remain robust as is visible from the near decadal high systemic growth of ~17% YoY, driven by the continued traction in the Retail and SME segments.On a segmental basis, Home loans, Auto loans and Credit card outstanding continue to grow well.Corporate loans are showing gradual recovery, albeit on a weaker base.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 Q3FY23 Result Preview – Earnings Growth to Remain Strong!

<ul><li>Axis New Year Picks: We are proud to announce our exclusive report: Axis New Year Picks 2023 – Focus on 6 Golden Themes.</li><li>The report contains deeply-researched 9 stocks that are best-placed to deliver excellent performance in 2023 and thereby strengthen your investment portfolio.</li><li>Axis Alpha: Axis Alpha reported an excellent monthly strike rate of 78% in Dec’22. It continued to deliver robust returns with absolute profits of over 5.4 Lc since its inception in May’20.</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 New Year Picks: We are proud to announce our exclusive report: Axis New Year Picks 2023 – Focus on 6 Golden Themes.The report contains deeply-researched 9 stocks that are best-placed to deliver excellent performance in 2023 and thereby strengthen your investment portfolio.Axis Alpha: Axis Alpha reported an excellent monthly strike rate of 78% in Dec’22. It continued to deliver robust returns with absolute profits of over 5.4 Lc since its inception in May’20.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.

<ul><li>Axis Top Picks basket outperformed the benchmark by a significant margin as it delivered an impressive return of 11% in 2022 as against 4.3% posted by Nifty 50 during the year.</li><li>The basket, however, declined by 1.8% in Dec’22 on account of the volatile equity market but it still managed to beat the 3.5% de-growth reported by the benchmark Nifty 50 on an MoM basis.</li><li>Furthermore, the basket has delivered an astounding return of 149% since its inception (May'20), which stands significantly higher than the 95% returns delivered by NIFTY 50 over the same period.</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 Top Picks basket outperformed the benchmark by a significant margin as it delivered an impressive return of 11% in 2022 as against 4.3% posted by Nifty 50 during the year.The basket, however, declined by 1.8% in Dec’22 on account of the volatile equity market but it still managed to beat the 3.5% de-growth reported by the benchmark Nifty 50 on an MoM basis.Furthermore, the basket has delivered an astounding return of 149% since its inception (May'20), which stands significantly higher than the 95% returns delivered by NIFTY 50 over the same period.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.

Top Picks - Near-Term Volatile, Continue ‘Buy On Dips’ Strategy for Equities

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.

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Federal Bank (FB IN)

Federal Bank - Closing in on True Franchise Potential

FB benefitted from a timing difference in asset/deposit repricing, offsetting higher employee opex (provision for wage revision) and higher...

HDFC Securities

Federal Bank - Stellar Quarter; RoA Expansion on Track!

Asset Quality continues to improve – Asset quality trends continue to remain encouraging aided by lower slippages and strong recoveries.

Axis Direct

BFSI Q3FY23 Result Preview – Earnings Growth to Remain Strong!

On a segmental basis, Home loans, Auto loans and Credit card outstanding continue to grow well. Corporate loans are showing gradual recovery,...

Axis Direct

Axis Research Scorecard Report - Dec 22

Axis New Year Picks: We are proud to announce our exclusive report: Axis New Year Picks 2023 – Focus on 6 Golden Themes.

Axis Direct

Top Picks - Near-Term Volatile, Continue ‘Buy On Dips’ Strategy for Equities

Axis Top Picks basket outperformed the benchmark by a significant margin as it delivered an impressive return of 11% in 2022 as against 4.3% posted...

Axis Direct

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