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

HDFC Asset Management Co Ltd / Equity Bottom-Up

<ul><li>3QFY25 operating revenue grew 39% YoY/5% QoQ to INR9.3b (in line with est.).</li><li>The sequential growth was driven by AUM growth and a 0.7bp QoQ improvement in yield to 47.5bp (1.1bp YoY decline).</li><li>For 9MFY25, operating revenue grew 37% YoY to INR26b. </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>

3QFY25 operating revenue grew 39% YoY/5% QoQ to INR9.3b (in line with est.).The sequential growth was driven by AUM growth and a 0.7bp QoQ improvement in yield to 47.5bp (1.1bp YoY decline).For 9MFY25, operating revenue grew 37% YoY to INR26b. 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.

Hdfc Amc - Improvement in Yield, Cost Control Boost Margins

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

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>HDFC AMC saw a good quarter as revenue was 1.5% higher to PLe owing to better-than-expected yields at 46.2bps (PLe 45.5bps) led by strong growth in equity QAAuM of 11.5% QoQ to Rs4.1trn.</li><li>Core income saw a slight miss as opex escalated QoQ owing to (1) higher staff cost due to employee addition and engagement expenses, and (2) higher other opex led by costs related to the NFO, business, KYC, etc.</li><li>Equity performance within the 1-year/3-year buckets remains best-in-class, which resulted in strong net flows’ market share of 20% in FY24 (vs 8.6% in FY23).</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>

HDFC AMC saw a good quarter as revenue was 1.5% higher to PLe owing to better-than-expected yields at 46.2bps (PLe 45.5bps) led by strong growth in equity QAAuM of 11.5% QoQ to Rs4.1trn.Core income saw a slight miss as opex escalated QoQ owing to (1) higher staff cost due to employee addition and engagement expenses, and (2) higher other opex led by costs related to the NFO, business, KYC, etc.Equity performance within the 1-year/3-year buckets remains best-in-class, which resulted in strong net flows’ market share of 20% in FY24 (vs 8.6% in FY23).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.

HDFC Asset Management Company - Core Earnings Further Upgraded Due to Equity

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>HDFC AMC is among the largest and profitable mutual funds with an QAAUM of ~Rs 4.2 lakh crore as on September 2022.</li><li>Market share as on Q2FY23 was at ~11%</li><li>Strong distribution network with 228 branches and more than 80,000 empanelled distribution partners.</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>

HDFC AMC is among the largest and profitable mutual funds with an QAAUM of ~Rs 4.2 lakh crore as on September 2022.Market share as on Q2FY23 was at ~11%Strong distribution network with 228 branches and more than 80,000 empanelled distribution partners.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.

HDFC AMC - Steady Market Share; Other Income Boost PAT…

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.

Thematic (Sector/Industry)

<ul><li>AMCs—tepid flows to drag earnings: Active equity schemes witnessed a deceleration in net inflows at INR339bn (Q1FY23: INR598bn), despite an all-time high SIP flow run rate (Q2 average: INR126bn)</li><li>Increased volatility in capital markets, rising concerns on global macros, and higher interest rates appear to have resulted in muted lumpsum flows; however, a sharp recovery in capital markets resulted in a 12% QoQ rise in Active Equity AUM</li><li>Interest rate hikes are likely to keep treasury gains under check</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>

AMCs—tepid flows to drag earnings: Active equity schemes witnessed a deceleration in net inflows at INR339bn (Q1FY23: INR598bn), despite an all-time high SIP flow run rate (Q2 average: INR126bn)Increased volatility in capital markets, rising concerns on global macros, and higher interest rates appear to have resulted in muted lumpsum flows; however, a sharp recovery in capital markets resulted in a 12% QoQ rise in Active Equity AUMInterest rate hikes are likely to keep treasury gains under checkContent 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.

Non-Leveraged Financials - Volatile Markets and Weak Macros Drive Slowdown

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

<ul><li>Performance contains market share loss: Overall QAAUM growth was 4% YoY while it declined by 3.4% QoQ.</li></ul><div><div><div><ul><li>Equity mix improves further: The company reported third consecutive quarter of increase in equity mix.</li></ul><div><div><div><div><ul><li>New product launches in MF space; ramping up alternatives: The company highlighted that it continues to work on launching new products.</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>

Performance contains market share loss: Overall QAAUM growth was 4% YoY while it declined by 3.4% QoQ.Equity mix improves further: The company reported third consecutive quarter of increase in equity mix.New product launches in MF space; ramping up alternatives: The company highlighted that it continues to work on launching new products.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.

HDFC Asset Management Company - Fixed Income Decline Drags AUM Growth

India

HDFC Asset Management Co. Ltd. operates as an investment management firm. The Company offers portfolio management and advisory services to individuals, institutions, trusts, private funds, charitable organizations, and investment companies. HDFC Asset Management serves customers in India.

HDFC Asset Management Co Ltd (HDFCAMC IN)

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HDFC Asset Management Co Ltd (HDFCAMC IN)

Hdfc Amc - Improvement in Yield, Cost Control Boost Margins

Total opex grew 7% YoY to INR1.7b (10% lower than est.), driven by 6% YoY growth in employee costs (2% lower than est.) and 8% YoY growth in other...

Motilal Oswal

HDFC Asset Management Company - Core Earnings Further Upgraded Due to Equity

HDFC AMC saw a good quarter as revenue was 1.5% higher to PLe owing to better-than-expected yields at 46.2bps (PLe 45.5bps) led by strong growth in...

Prabhudas Lilladhar

Non-Leveraged Financials - Volatile Markets and Weak Macros Drive Slowdown

Active equity schemes witnessed a deceleration in net inflows at INR339bn (Q1FY23: INR598bn), despite an all-time high SIP flow run rate (Q2...

HDFC Securities

HDFC Asset Management Company - Fixed Income Decline Drags AUM Growth

HDFC AMC reported revenue growth of 2.7% YoY as against AUM growth of 3-4% YoY. In 4QFY22, the company saw debt and liquid assets decline sequentially

Nirmal Bang

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hdfc Amc - Improvement in Yield, Cost Control Boost Margins

Total opex grew 7% YoY to INR1.7b (10% lower than est.), driven by 6% YoY growth in employee costs (2% lower than est.) and 8% YoY growth in other...

Motilal Oswal

HDFC Asset Management Company - Core Earnings Further Upgraded Due to Equity

HDFC AMC saw a good quarter as revenue was 1.5% higher to PLe owing to better-than-expected yields at 46.2bps (PLe 45.5bps) led by strong growth in...

Prabhudas Lilladhar

HDFC AMC - Steady Market Share; Other Income Boost PAT…

HDFC AMC is among the largest and profitable mutual funds with an QAAUM of ~Rs 4.2 lakh crore as on September 2022. Market share as on Q2FY23 was...

ICICI Securities Limited

Non-Leveraged Financials - Volatile Markets and Weak Macros Drive Slowdown

Active equity schemes witnessed a deceleration in net inflows at INR339bn (Q1FY23: INR598bn), despite an all-time high SIP flow run rate (Q2...

HDFC Securities

HDFC Asset Management Company - Fixed Income Decline Drags AUM Growth

HDFC AMC reported revenue growth of 2.7% YoY as against AUM growth of 3-4% YoY. In 4QFY22, the company saw debt and liquid assets decline sequentially

Nirmal Bang