External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<p>Can Fin Homes (CANF) earnings were in line with cost savings and lower provisions led to PAT growth of 17%/6% YoY/QoQ to Rs 109 Cr. However, loan growth was tepid at 7% YoY and disbursements were down 55% QoQ as the company could conduct its business only for 45 days due to lockdowns in force. NIM came down to 3.3% from ~3.9% on account of the company’s pricing strategy.</p><p>We revise our rating to BUY from HOLD with a revised target price of Rs 605 (2.3x FY23E ABV).</p><div class="content-highlight"><em>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.</em></div>

Can Fin Homes (CANF) earnings were in line with cost savings and lower provisions led to PAT growth of 17%/6% YoY/QoQ to Rs 109 Cr. However, loan growth was tepid at 7% YoY and disbursements were down 55% QoQ as the company could conduct its business only for 45 days due to lockdowns in force. NIM came down to 3.3% from ~3.9% on account of the company’s pricing strategy.We revise our rating to BUY from HOLD with a revised target price of Rs 605 (2.3x FY23E ABV).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.

Can Fin Homes: Margin And Growth Outlook To Improve