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. 

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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.

Equity Bottom-Up

<ul><li>Sundaram Finance (SUF) earnings were largely in line with our estimates with healthy AUM growth (+26% YoY) and pristine asset quality, partially offset by NIM compression.</li><li>AUM growth was driven by non-M&amp;HCV segments, particularly retail CV (+56% YoY). SUF continues to be focused on product and geographic diversification strategy to sustain its growth momentum and drive margins.</li><li>However, the rising cost of funds, concomitant with high competitive intensity, is likely to continue weighing in on margins. </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>

Sundaram Finance (SUF) earnings were largely in line with our estimates with healthy AUM growth (+26% YoY) and pristine asset quality, partially offset by NIM compression.AUM growth was driven by non-M&amp;HCV segments, particularly retail CV (+56% YoY). SUF continues to be focused on product and geographic diversification strategy to sustain its growth momentum and drive margins.However, the rising cost of funds, concomitant with high competitive intensity, is likely to continue weighing in on margins. 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.

Sundaram Finance: Growth Tailwinds Receding, Downgrade to ADD