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. 

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.

External broker reports(aggregated public sources)

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

<ul><li>City Union Bank (CUB) reported a good Q2FY22 performance (better than our estimates), led by lower provisions and improved asset quality</li><li>The management expects H2FY22 to have lower slippages coupled with higher recoveries and ROAs to normalise to ~1.5% over the next four quarters.</li><li>We maintain our BUY recommendation with a target price of Rs 200/share (2.2x FY23E ABV).</li></ul><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>

City Union Bank (CUB) reported a good Q2FY22 performance (better than our estimates), led by lower provisions and improved asset qualityThe management expects H2FY22 to have lower slippages coupled with higher recoveries and ROAs to normalise to ~1.5% over the next four quarters.We maintain our BUY recommendation with a target price of Rs 200/share (2.2x 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.

City Union Bank: Asset Quality Outlook Improves