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.

Thematic (Sector/Industry)

<ul><li>The RBI kept repo rates unchanged but more importantly pivoted its stance from “withdrawal of accommodation” to “neutral”, signalling an openness to rate cuts over the coming months</li><li>Although system-wide liquidity has organically improved since our most recent publication on the liquidity conundrum, deposit growth is likely to remain a function of growth in the broader money supply (M3) and inflation targets</li><li>More importantly, in line with its ‘satark’ motto, the RBI has categorically highlighted the unscrupulous practices of NBFC/HFCs to pursue growth and profitability at the cost of compliance and fair practices, with an unusually stern directive to such regulated entities to proactively mend their ways.</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 RBI kept repo rates unchanged but more importantly pivoted its stance from “withdrawal of accommodation” to “neutral”, signalling an openness to rate cuts over the coming monthsAlthough system-wide liquidity has organically improved since our most recent publication on the liquidity conundrum, deposit growth is likely to remain a function of growth in the broader money supply (M3) and inflation targetsMore importantly, in line with its ‘satark’ motto, the RBI has categorically highlighted the unscrupulous practices of NBFC/HFCs to pursue growth and profitability at the cost of compliance and fair practices, with an unusually stern directive to such regulated entities to proactively mend their ways.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.

Leveraged Financials: ‘Satark’ NBFCs, RBI Pivots to a Stern Warning

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.

Cross Asset Strategy

<ul><li>The ‘status quo’ on policy rates and change in stance from ‘Withdrawal of Accommodation’ to ‘Neutral’ was on expected lines.</li><li>This has set the stage for a rate cut and we expect a rate cut announcement in the Feb’25 meeting.</li><li>The regulator has maintained its growth and inflation forecast for FY25 with a few minor tweaks. </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 ‘status quo’ on policy rates and change in stance from ‘Withdrawal of Accommodation’ to ‘Neutral’ was on expected lines.This has set the stage for a rate cut and we expect a rate cut announcement in the Feb’25 meeting.The regulator has maintained its growth and inflation forecast for FY25 with a few minor tweaks. 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.

Event Update: RBI Monetary Policy - October 2024

<ul><li>The systemic credit growth (as of 20th Sep’24) continued to remain healthy at 13% YoY.</li><li>This growth continues to be led by Retail and SMEs, while corporate credit continues to remain sluggish.</li><li>The deceleration in credit growth is most likely primarily amongst the private sector banks as they aim to reduce their LDR and maintain them at balance levels. </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 systemic credit growth (as of 20th Sep’24) continued to remain healthy at 13% YoY.This growth continues to be led by Retail and SMEs, while corporate credit continues to remain sluggish.The deceleration in credit growth is most likely primarily amongst the private sector banks as they aim to reduce their LDR and maintain them at balance levels. 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.

Q2FY25 Earnings Preview - Banks, Financial Services and Insurance

<ul><li>Market Breadth Narrowing; Emphasis On Style &amp; Sector Rotation</li><li>The Axis Top Picks Basket delivered an excellent return of 10.4% in the last three months against the 7.5% returns posted by Nifty 50 over the same period.</li><li>Moreover, the basket climbed up by 2.3% in the last one month. It gives us immense joy to share that our Top Picks Basket has delivered an impressive return of 348% since its inception (May’20), which stands well above the 178% return delivered by the NIFTY 50 index 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.

Market Breadth Narrowing; Emphasis On Style &amp; Sector RotationThe Axis Top Picks Basket delivered an excellent return of 10.4% in the last three months against the 7.5% returns posted by Nifty 50 over the same period.Moreover, the basket climbed up by 2.3% in the last one month. It gives us immense joy to share that our Top Picks Basket has delivered an impressive return of 348% since its inception (May’20), which stands well above the 178% return delivered by the NIFTY 50 index 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.

Axis Top Picks for the Month of October 2024

<ul><li>The aggregate performance of the Q1FY25 earnings season was largely on expected lines, with wide divergences across sectors and companies</li><li>Aggregate revenue/PAT grew by 7%/0% YoY and -2%/-8% QoQ across the HSIE coverage (~229 stocks)</li><li>Overall earnings were adversely skewed by the weak performance of OMCs, hence ex-OMCs, revenue/PAT grew by 9%/13% YoY and -2%/-5% QoQ.</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 aggregate performance of the Q1FY25 earnings season was largely on expected lines, with wide divergences across sectors and companiesAggregate revenue/PAT grew by 7%/0% YoY and -2%/-8% QoQ across the HSIE coverage (~229 stocks)Overall earnings were adversely skewed by the weak performance of OMCs, hence ex-OMCs, revenue/PAT grew by 9%/13% YoY and -2%/-5% QoQ.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.

Quarterly Flipbook: Earnings growth moderates, demand pick-up holds the key

India

ICICI Bank Limited operates as a bank. The Bank offers saving accounts, loans, debit, credit cards, insurance, investments, mortgages, and online banking services. ICICI Bank serves customers worldwide.

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ICICI Bank Ltd (ICICIBC IN)

Leveraged Financials: ‘Satark’ NBFCs, RBI Pivots to a Stern Warning

We continue to reiterate our preference towards large banks (top pick: SBIN, ICICIBC) over NBFCs (Top pick: BAF) in the current environment.

HDFC Securities

Event Update: RBI Monetary Policy - October 2024

The ‘status quo’ on policy rates and change in stance from ‘Withdrawal of Accommodation’ to ‘Neutral’ was on expected lines. This has set the stage...

Axis Direct

Q2FY25 Earnings Preview - Banks, Financial Services and Insurance

Mirroring the systemic credit growth trends, we expect banks under our coverage (incl. SFBs) to register credit growth of ~14/4% YoY/QoQ.

Axis Direct

Axis Top Picks for the Month of October 2024

The Axis Top Picks Basket delivered an excellent return of 10.4% in the last three months against the 7.5% returns posted by Nifty 50 over the same...

Axis Direct

Quarterly Flipbook: Earnings growth moderates, demand pick-up holds the key

The aggregate performance of the Q1FY25 earnings season was largely on expected lines, with wide divergences across sectors and companies

HDFC Securities

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