External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

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.

Equity Bottom-Up

IDFC First Bank Limited / Equity Bottom-Up

<ul><li>The erstwhile IDFC Bank started its operation in Oct’15 as a bank after its demerger from IDFC Ltd.</li><li>In its efforts to diversify the portfolio from infrastructure, IDFC Bank announced merger with a NBFC - Capital First in 2018, paving way for a new entity IDFC First Bank (IDFCFB)m.</li><li>Currently, the bank operates out of 944 branches and 1164 ATMs across the country. </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 erstwhile IDFC Bank started its operation in Oct’15 as a bank after its demerger from IDFC Ltd.In its efforts to diversify the portfolio from infrastructure, IDFC Bank announced merger with a NBFC - Capital First in 2018, paving way for a new entity IDFC First Bank (IDFCFB)m.Currently, the bank operates out of 944 branches and 1164 ATMs across the country. 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.

Pick of the Week: IDFC First Bank Ltd. - 01 JULY 2024

<ul><li>IDFCFB reported robust loan growth momentum (up 28% YoY/ 5% QoQ) in Q4FY24 and NII growth of (24% YoY/4% QoQ).</li><li>The NIM contracted 7bps QoQ to 6.35%, largely owing to higher cost of deposits which increased by 7bps QoQ to 6.27%.</li><li>Other Income reported a healthy growth of 17/8% YoY/QoQ, largely led by growth in the fee income from the bank’s retail products. </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.

IDFCFB reported robust loan growth momentum (up 28% YoY/ 5% QoQ) in Q4FY24 and NII growth of (24% YoY/4% QoQ).The NIM contracted 7bps QoQ to 6.35%, largely owing to higher cost of deposits which increased by 7bps QoQ to 6.27%.Other Income reported a healthy growth of 17/8% YoY/QoQ, largely led by growth in the fee income from the bank’s retail 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.

IDFC First Bank - Deposit-Led Growth to Be Supported by Operating Leverage Play

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

IDFC First Bank Limited / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/idfc-first-bank-limited" target="_blank" data-smartkarma-citation="entities:26934:1" rel="noopener">IDFC First Bank Limited (IDFCBK IN)</a> plans to launch a Qualified Institutional Placement (QIP) of up to INR30bn (US$362m) in Oct 23, as per media reports. </li>
<li>On 22nd Sep 23, IFR had reported that IDFC First Bank is looking to launch a Qualified Institutional Placement (QIP) to raise up to INR30bn (US$362m) in Oct 23. </li>
<li>In this note, we will talk about the possible placement and other deal dynamics.</li>
</ul>



IDFC First Bank Limited (IDFCBK IN) plans to launch a Qualified Institutional Placement (QIP) of up to INR30bn (US$362m) in Oct 23, as per media reports. 
On 22nd Sep 23, IFR had reported that IDFC First Bank is looking to launch a Qualified Institutional Placement (QIP) to raise up to INR30bn (US$362m) in Oct 23. 
In this note, we will talk about the possible placement and other deal dynamics.


IDFC First Bank Early Look - Likely to Be an Accretive Deal but Not Particularly Cheap

India BFSI - Long-Short - Equity Research Analyst

Raj S, CA, CFA

Artoval Advisors

Art’o’val stands for Art of Valuation. Artoval Advisors LLP is a professionally run advisory firm catering to various financial advisory services including Valuation, Investment Research, Training, Accounting, CFO Services and other ancillary services.

We are passionate about what we do and strongly believe in working with our clients as their extended teams. With Artoval Advisors as their trusted partner, our clients find it easy to achieve efficiency in service delivery without compromising on quality.

True Art of Valuation

<ul>
<li>
<a href="https://www.smartkarma.com/entities/idfc-first-bank-limited" target="_blank" data-smartkarma-citation="entities:26934:1" rel="noopener">IDFC First Bank Limited (IDFCBK IN)</a>  management has provided long-term strategic guidance along with its 3Q24 results, which lays down a clear roadmap for the bank's progress.</li>
<li>The latest results are slightly below estimates but the medium-term factors for our thesis haven’t changed – viz. a strong franchise underscored by heavy retail footprint and incrementally improving unit-economics.</li>
<li>We reiterate "Long-term Buy", with 42% upside in near-term, as the bank continues to realize the benefits of its increasing scale on its earnings profile.</li>
</ul>



IDFC First Bank Limited (IDFCBK IN)  management has provided long-term strategic guidance along with its 3Q24 results, which lays down a clear roadmap for the bank's progress.
The latest results are slightly below estimates but the medium-term factors for our thesis haven’t changed – viz. a strong franchise underscored by heavy retail footprint and incrementally improving unit-economics.
We reiterate "Long-term Buy", with 42% upside in near-term, as the bank continues to realize the benefits of its increasing scale on its earnings profile.


IDFC First Bank (IDFCBK IN): Long-Term Guidance 2.0; Clarity of Thought Is a Source of Comfort

<ul><li>Outlook: Deposit growth is expected to remain healthy and continue to outpace advances growth. This will allow the bank to reduce its C/D ratio.</li><li>Margins are expected to remain stable at current levels. The management will increase interest rates on personal loans as COE has gone up.</li><li>Opex is expected to remain at elevated levels in the near term as the bank is currently building the businesses to sustain for the long term. </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.

Outlook: Deposit growth is expected to remain healthy and continue to outpace advances growth. This will allow the bank to reduce its C/D ratio.Margins are expected to remain stable at current levels. The management will increase interest rates on personal loans as COE has gone up.Opex is expected to remain at elevated levels in the near term as the bank is currently building the businesses to sustain for the long 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.

IDFC First Bank Ltd. - Rationally Optimistic Guidance 2.0 with Operating Leverage Play

India

IDFC First Bank Limited provides a full range of commercial banking services for retail and institutional customers. The Bank offers fixed deposits, debit cards, savings account, cash management, and other services. IDFC Bank serves its customers in India.

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IDFC First Bank Limited (IDFCBK IN)

Pick of the Week: IDFC First Bank Ltd. - 01 JULY 2024

The Bank has launched and scaled up several products across all segments, like retail, commercial and wholesale banking, rural products as well as...

Axis Direct

IDFC First Bank - Deposit-Led Growth to Be Supported by Operating Leverage Play

IDFCFB reported robust loan growth momentum (up 28% YoY/ 5% QoQ) in Q4FY24 and NII growth of (24% YoY/4% QoQ). The NIM contracted 7bps QoQ to...

Axis Direct

IDFC First Bank Early Look - Likely to Be an Accretive Deal but Not Particularly Cheap

IDFC First Bank has launched its QIP at an issue price of INR 90.25 (4.14% discount to the 3rd Oct 23 close price and 4.95% discount to the floor...

Ethan Aw

IDFC First Bank (IDFCBK IN): Long-Term Guidance 2.0; Clarity of Thought Is a Source of Comfort

IDFC First Bank's 5-year guidance, unveiled in the latest results, adds comfort to its potential long-term success story which is already in motion.

Raj S, CA, CFA

IDFC First Bank Ltd. - Rationally Optimistic Guidance 2.0 with Operating Leverage Play

Deposit growth is expected to remain healthy and continue to outpace advances growth. This will allow the bank to reduce its C/D ratio.

Axis Direct

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