External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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

PNB Housing Finance Ltd / Equity Bottom-Up

<ul><li>ICICI Securities research report onPNB Housing Finance PNB Housing Finance’s (PNBHF) strategy to build a scalable and sustainable retail mortgage business has been showing signs of success as reflected in 10% YoY growth in retail business during Q4FY24 - highest in past 5 years.</li><li>With new management’s focus on widening the target market and expanding yields, it has been investing in building up its affordable and emerging mortgage market while continuing to scale up its prime mortgage business in a calibrated manner.</li><li>The same was evident from its affordable housing book reaching 11x to INR 17.9bn in last one year, contributing ~12% of overall disbursements.</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>

ICICI Securities research report onPNB Housing Finance PNB Housing Finance’s (PNBHF) strategy to build a scalable and sustainable retail mortgage business has been showing signs of success as reflected in 10% YoY growth in retail business during Q4FY24 - highest in past 5 years.With new management’s focus on widening the target market and expanding yields, it has been investing in building up its affordable and emerging mortgage market while continuing to scale up its prime mortgage business in a calibrated manner.The same was evident from its affordable housing book reaching 11x to INR 17.9bn in last one year, contributing ~12% of overall disbursements.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.

PNB Housing Finance - Retail Strategy Shaping up Well