External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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.

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.

Thematic (Sector/Industry)

India Financials / Thematic (Sector/Industry)

<ul><li>The INR4.2trn microfinance industry (MFI) has witnessed a strong 20% CAGR over FY21-24, driven by a simultaneous increase in borrower count (13% CAGR) and average exposure (6% CAGR)</li><li>We argue that the bureau-reported industry-wide borrower count for FY24 is fraught with data integrity risk and blindsides stakeholders into under-estimating customer leverage</li><li>Our analysis suggests that the pan-India micro-credit penetration stands at &gt;40% (FY12: &lt;12%), with top states such as Bihar (&gt;80%) and Tamil Nadu (&gt;50%) appearing significantly elevated</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>

The INR4.2trn microfinance industry (MFI) has witnessed a strong 20% CAGR over FY21-24, driven by a simultaneous increase in borrower count (13% CAGR) and average exposure (6% CAGR)We argue that the bureau-reported industry-wide borrower count for FY24 is fraught with data integrity risk and blindsides stakeholders into under-estimating customer leverageOur analysis suggests that the pan-India micro-credit penetration stands at &gt;40% (FY12: &lt;12%), with top states such as Bihar (&gt;80%) and Tamil Nadu (&gt;50%) appearing significantly elevatedContent 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.

Leveraged Financials | Microfinance: Positioning for the Down Cycle