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>SBI’s earnings traction continued in Q3FY22 and was up 62% YoY, led by a 33% YoY decline in provisions and 7% YoY growth in PPOP</li><li>The bank continues to positively surprise on the asset quality front with slippages of 0.4%, restructured book at 1.2%, and lower SMA book (~16bps) during Q3FY22</li><li>We maintain a BUY on the stock with a revised target price of Rs 720/share (SOTP basis core book at 1.3x FY24E and subsidiaries at Rs 211).</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>

SBI’s earnings traction continued in Q3FY22 and was up 62% YoY, led by a 33% YoY decline in provisions and 7% YoY growth in PPOPThe bank continues to positively surprise on the asset quality front with slippages of 0.4%, restructured book at 1.2%, and lower SMA book (~16bps) during Q3FY22We maintain a BUY on the stock with a revised target price of Rs 720/share (SOTP basis core book at 1.3x FY24E and subsidiaries at Rs 211).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.

St Bk of India: Performance On-Track with Strong Visibility; Maintain BUY

State Bank Of India

St Bk of India: Performance On-Track with Strong Visibility; Maintain BUY