In today’s briefing:
- Bajaj Finance: NIM Under Marginal Pressure But Overall Outlook Remains Strong
- Inox India IPO – Offering Access to a Niche Sector
Bajaj Finance: NIM Under Marginal Pressure But Overall Outlook Remains Strong
- Bajaj Finance Ltd (BAF) reported a decent Q2FY24. AUM growth came in at 33% YoY. Profitability was also strong with ROA and ROE at 5%+ and 24%+, respectively.
- While, the overall outlook remains robust, BAF may see some NIM pressure due to rising cost of funds. However, majority of this is likely to be offset by operating leverage.
- BAF’s initiative to enter into new segments like microfinance and new car financing is progressing well. New car financing expansion is already ahead of plan with presence in 85 locations.
Inox India IPO – Offering Access to a Niche Sector
- INOX India Limited (INOX IN) is looking to raise up to US$175m in its Indian IPO.
- Inox India is a manufacturer of cryogenic equipment. As per CRISIL, the firm was the largest Indian exporter of cryogenic tanks in terms of FY23 sales.
- In our previous note, we looked at the company’s background. In this note, we talk about the company’s performance and share our quick thoughts on valuation.
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