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

SBI Cards & Payment Services / Equity Bottom-Up

SBI Cards & Payment Services (SBICARD IN)

<p>Q3FY22 performance of SBI Cards (SBIC) was directionally strong in terms of<br>gross account additions (1mn), spending growth (46% QoQ) and asset quality<br>(credit cost/GNPA of 9.0%/2.4% vs 9.3%/3.4% in Q2FY22). The activation rates<br>(30-day) are also high at 52% in Q3FY22 vs 50% in Q2FY22. Maintain buy with share price target of Rs. 1060</p><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>

Q3FY22 performance of SBI Cards (SBIC) was directionally strong in terms of gross account additions (1mn), spending growth (46% QoQ) and asset quality (credit cost/GNPA of 9.0%/2.4% vs 9.3%/3.4% in Q2FY22). The activation rates (30-day) are also high at 52% in Q3FY22 vs 50% in Q2FY22. Maintain buy with share price target of Rs. 1060Content 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.

Sequential improvement in key business parameters