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)

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

MAS Financial Services Ltd / Equity Bottom-Up

<ul><li>MAS Financial Services Ltd. (MAS) results were in line with our estimates. Disbursement growth remained healthy at 55% YoY translating into an AUM growth of 14% YoY</li><li>AUM growth was driven by SME Loans (+48% YoY) and CV loans (+48% YoY), while the Micro-enterprise loans remained muted and de-grew by 5% YoY</li><li>We maintain a BUY rating on the stock with a revised target price of Rs 765/share (2.5x H1FY24E BV), implying an upside of 35% from the CMP.</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>

MAS Financial Services Ltd. (MAS) results were in line with our estimates. Disbursement growth remained healthy at 55% YoY translating into an AUM growth of 14% YoYAUM growth was driven by SME Loans (+48% YoY) and CV loans (+48% YoY), while the Micro-enterprise loans remained muted and de-grew by 5% YoYWe maintain a BUY rating on the stock with a revised target price of Rs 765/share (2.5x H1FY24E BV), implying an upside of 35% from the CMP.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.

MAS Finance Services: Out of the Woods, Normalized Performance From FY23E Onwards