Axis Research Scorecard Report for the month of November 2022
Axis Alpha: Axis Alpha reported a dream monthly strike rate of 100% in Nov’22. It continued to deliver robust returns with absolute profits of over...
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Five-Star Business IPO - RHP Updates and Peer Comparion
Five Star Business Finance is looking to raise around US$250m in its upcoming India IPO. In this note, we talk about the RHP updates and undertake...
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4QFY22 Results Update - Manappuram Finance
Over the last three quarters, MGFL traded off margin and spreads for Gold loan growth. This naturally dented profitability, with FY22 PAT declining...
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Manappuram Finance - Customer Acquisition Weak Amid High Competition, Weak Demand
Manappuram Finance (Manappuram) reported yet another weak quarter, with net profit declining by 42.4% YoY on account of subdued growth in gold loan...
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Below estimates led by higher opex and lower spreads
In the last two quarters, MGFL traded off margin/spreads for Gold loan growth. This new business strategy helped it cover a lot of lost ground in...
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