External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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

Cholamandalam Investment and Finance / Equity Bottom-Up

Cholamandalam Investment and Finance (CIFC IN)

<ul><li>Chola’s exposure to unsecured retail credit through FinTech partnerships is low (~1.8% of AUM as of Sep-23) and poses limited downside risk on account of the underlying customer profile and partnership dynamics</li><li>Chola’s core businesses (vehicle, LAP and home loans) have delivered steady outcomes on growth as well as profitability parameters</li><li>With an increasingly diversified portfolio, we expect Chola to deliver steady loan growth (&gt;20%) and profitability (RoE of &gt;20%) in the medium-term, with the recent equity raise to support loan growth</li></ul><p><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></p>

Chola’s exposure to unsecured retail credit through FinTech partnerships is low (~1.8% of AUM as of Sep-23) and poses limited downside risk on account of the underlying customer profile and partnership dynamicsChola’s core businesses (vehicle, LAP and home loans) have delivered steady outcomes on growth as well as profitability parametersWith an increasingly diversified portfolio, we expect Chola to deliver steady loan growth (&gt;20%) and profitability (RoE of &gt;20%) in the medium-term, with the recent equity raise to support loan growthContent 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.

Cholamandalam Investment & Finance Company: Strong Franchise but Diminishing Margin of Safety.