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. 

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<ul><li>The systemic credit growth (as of 22nd Mar’24) continued to remain robust, registering a growth of ~20% YoY (~16.3% YoY ex-HDFC).</li><li>Based on the provisional updates released by banks thus far, along with the systemic growth momentum and considering Q4 as a seasonally strong quarter, we expect the banks under our coverage to reflect these trends and register a ~17-18% YoY credit growth (ex-HDFC).</li><li>Credit growth continues to be led by the retail and SME segments, with a gradual pickup in corporate lending. </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 22nd Mar’24) continued to remain robust, registering a growth of ~20% YoY (~16.3% YoY ex-HDFC).Based on the provisional updates released by banks thus far, along with the systemic growth momentum and considering Q4 as a seasonally strong quarter, we expect the banks under our coverage to reflect these trends and register a ~17-18% YoY credit growth (ex-HDFC).Credit growth continues to be led by the retail and SME segments, with a gradual pickup in corporate lending. 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>Banks under our coverage continued to report healthy credit growth, largely led by the retail/SME segment, with some pick-up in corporate lending.</li><li>Comments around RBI asking banks to maintain CD Ratio around ~75% dominated the discussion during the quarter.</li><li>Most banks have highlighted that deposit accretion would remain a key lever to maintain the pace of credit growth. </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.

Banks under our coverage continued to report healthy credit growth, largely led by the retail/SME segment, with some pick-up in corporate lending.Comments around RBI asking banks to maintain CD Ratio around ~75% dominated the discussion during the quarter.Most banks have highlighted that deposit accretion would remain a key lever to maintain the pace of credit growth. 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>Z Score: The spread is currently negative between TCS and INFY, signaling a long signal on the spread, which means we believe it would retrace up towards the mean, which is the Z Score of 0</li><li>Lot Size: To ensure rupee neutral strategy, we suggest going long on TCS with 1 lot(s) and going short on INFY with 1 lot(s)</li><li>Returns Expectations: In the last 10 trades over the last 200 days, we have achieved 60% hit ratio over an average trade duration of 6.5 days. </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.

Z Score: The spread is currently negative between TCS and INFY, signaling a long signal on the spread, which means we believe it would retrace up towards the mean, which is the Z Score of 0Lot Size: To ensure rupee neutral strategy, we suggest going long on TCS with 1 lot(s) and going short on INFY with 1 lot(s)Returns Expectations: In the last 10 trades over the last 200 days, we have achieved 60% hit ratio over an average trade duration of 6.5 days. 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>Robust Systemic Credit Growth Driven by Retail, SME: The systemic credit growth (as of 15th Dec, 23) stood at ~20% YoY (~15.7% YoY ex-HDFC).</li><li>It continues to remain healthy and is largely being driven by Retail and SME lending along with continued recovery in corporate lending.</li><li>The banks that have reported their provisional numbers so far have reported healthy credit growth. </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.

Robust Systemic Credit Growth Driven by Retail, SME: The systemic credit growth (as of 15th Dec, 23) stood at ~20% YoY (~15.7% YoY ex-HDFC).It continues to remain healthy and is largely being driven by Retail and SME lending along with continued recovery in corporate lending.The banks that have reported their provisional numbers so far have reported healthy credit growth. 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>As we conclude the final page of 2023, we extend our heartfelt wishes for a 'Happy New Year' to all our valued patrons.</li><li>With great enthusiasm, we welcome 2024, anticipating a year filled with prosperity, peace, and happiness for you and your family.</li><li>At this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment endeavours further.</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.

As we conclude the final page of 2023, we extend our heartfelt wishes for a 'Happy New Year' to all our valued patrons.With great enthusiasm, we welcome 2024, anticipating a year filled with prosperity, peace, and happiness for you and your family.At this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment endeavours further.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.

India

Manappuram Finance Ltd. is a non-banking finance company. The Company offers loans against gold collateral, business loans, vehicle loans, foreign exchange and money transfer services; and sells gold coins.

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Manappuram Finance (MGFL IN)

BFSI Q4FY24 - Earnings Preview

The systemic credit growth (as of 22nd Mar’24) continued to remain robust, registering a growth of ~20% YoY (~16.3% YoY ex-HDFC).

Axis Direct

Top Sector Ideas - BFSI

Banks under our coverage continued to report healthy credit growth, largely led by the retail/SME segment, with some pick-up in corporate lending.

Axis Direct

Parallel Trades -16 January 2024

he spread is currently negative between TCS and INFY, signaling a long signal on the spread, which means we believe it would retrace up towards the...

Axis Direct

BFSI Q3FY24 - Earnings Preview

Robust Systemic Credit Growth Driven by Retail, SME: The systemic credit growth (as of 15th Dec, 23) stood at ~20% YoY (~15.7% YoY ex-HDFC).

Axis Direct

Axis New Year Picks 2024

t this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment...

Axis Direct

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