IndusInd Bank: Reset Sell Recommendation Despite Capital Enhancement on Valuation and Red Flags
We reset our Sell recommendation on IndusInd Bank's (IIB IN) US$-bond despite yesterday’s approval of a share issue in the Extraordinary General...
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It Will Be Tougher for HDFC Bank to Maintain Its Remarkable Profitability in the Future
A 6-year profitability analysis of HDFC Bank (HDFCB IN) , India’s most valuable bank, reveals that it has been able to maintain it ROA despite a...
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Axis Bank: Senior Is Out of Alignment; Go Overweight
We recommend that investors overweight Axis Bank's (AXSBIN) 3% coupon 2022 maturity US$-denominated Senior Unsecured bond. This security trades...
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Shriram Transport Finance – Significant Reserve Shortfall
*Better Stated Results Not All What Cracked Up To Be: Shriram Transport Finance (SHTF.IN) [Shriram] reported FY 1Q21 results of INR 3.2 bn,...
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Bank of Baroda – Toxic
*Stressed To The Core: Bank of Baroda (BOB.IN) [BOB] reported FY 1Q21 results of negative INR 8.6 bn, declining 271% from the positive INR 5.1 bn...
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