Silver Point

Thomas J. Monaco

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

Equity Bottom-Up

<ul>
<li>IndusInd reported FY 3Q22 bottom-line results improved 4.8% linked quarter, driven by stronger core revenues and a lower provision; </li>
<li>NCOs remain elevated and show no sign of abating, and net new NPLs increased 31.6% annualized; and </li>
<li>IndusInd’s reserve needs to increase closer to 75% with a shortfall of INR 30 bn – representing two quarters of pre-tax results. </li>
</ul>


IndusInd reported FY 3Q22 bottom-line results improved 4.8% linked quarter, driven by stronger core revenues and a lower provision; 
NCOs remain elevated and show no sign of abating, and net new NPLs increased 31.6% annualized; and 
IndusInd’s reserve needs to increase closer to 75% with a shortfall of INR 30 bn – representing two quarters of pre-tax results. 


External broker reports(aggregated public sources), Edelweiss Broking Limited

Edelweiss

External broker reports(aggregated public sources)

Edelweiss Broking Limited

Edelweiss Broking Limited is an Indian Financial services company based in Mumbai, India. The company is a subsidiary of Edelweiss Group. 

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.

Stable quarter; guidance maintained<div class="content-highlight">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.</div>

Stable quarter; guidance maintainedContent 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.

Specialist in Indian Banking and Economic Research

Hemindra Hazari

<ul>
<li>Toxity in Axis Bank's work culture confirmed by Ravi Narayanan - Group Executive, retail liabilities and branches</li>
<li>Senior executive at town hall meeting allegedly stated “employees should fight, abuse and complain amongst them [sic] for business, this is the attitude what [sic] I like”</li>
<li>Strategy of abuse so far has failed but with board's endorsement, more of the same is being implemented which may have adverse impact on performance </li>
</ul>


Toxity in Axis Bank's work culture confirmed by Ravi Narayanan - Group Executive, retail liabilities and branches
Senior executive at town hall meeting allegedly stated “employees should fight, abuse and complain amongst them [sic] for business, this is the attitude what [sic] I like”
Strategy of abuse so far has failed but with board's endorsement, more of the same is being implemented which may have adverse impact on performance 


Axis Bank’s Toxic Call to Staff to Fight, Abuse, and Undermine One Another in Pursuit of Business

<ul>
<li>Significant loss to shareholders on account of whistleblowing by disgruntled insiders following restructuring at BFIL</li>
<li>The bank is finally implementing a much needed restructing of corporate banking</li>
<li>Reorganisation of corporate banking is a positive development but should not lead to another round of whistelblowing by those adversely impacted by the corporate banking restructuring</li>
</ul>


Significant loss to shareholders on account of whistleblowing by disgruntled insiders following restructuring at BFIL
The bank is finally implementing a much needed restructing of corporate banking
Reorganisation of corporate banking is a positive development but should not lead to another round of whistelblowing by those adversely impacted by the corporate banking restructuring


Will IndusInd’s Reorganisation of Corporate Lending Trigger Another Round of Whistleblowing?

Forensic Analyst, Trudence Capital Advisors

Nitin Mangal

Forensic Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

<a href="https://www.smartkarma.com/entities/spandana-sphoorty-financial" target="_blank" data-smartkarma-citation="entities:28229:1" rel="noopener">Spandana Sphoorty Financial (SPANDANA IN) </a> was one of the leading microfinance lender before Andhra Pradesh crisis. Post that the company has gone for CDR and after getting backing from private equity player led consortium led by Kedaara Capital (Kedaara) and later it got listed on the Indian bourses. In past one year Spandana has witnessed few high profile exits, the most recent one of exit of Ms. Padmaja G Reddy, the managing director and founder. This exit of Ms. Reddy is one of the tale of investor-promoter spat happening in various companies in India.

Spandana Sphoorty Financial (SPANDANA IN)  was one of the leading microfinance lender before Andhra Pradesh crisis. Post that the company has gone for CDR and after getting backing from private equity player led consortium led by Kedaara Capital (Kedaara) and later it got listed on the Indian bourses. In past one year Spandana has witnessed few high profile exits, the most recent one of exit of Ms. Padmaja G Reddy, the managing director and founder. This exit of Ms. Reddy is one of the tale of investor-promoter spat happening in various companies in India.

Spandana Spoorthy: Another Tale Of Investor and Promoter Tussle

India

IndusInd Bank Limited is a Mumbai-based Indian new generation bank established in 1994. The Bank provides a range of banking and financial services including  wholesale banking, credit monitoring, risk management, tele-banking, investment banking and commercial lending. IndusInd Bank operates branches throughout India as well as an office in Dubai and London.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Indusind Bank (IIB IN)

IndusInd Bank – Stabilizing Somewhat

INDUSIND BANK: IndusInd reported FY 3Q22 bottom-line results improvement of 4.8% linked quarter, driven by stronger core revenues. NCOs remain...

Thomas J. Monaco

IndusInd Bank Ltd | Q3FY22 Result Update

Stable quarter; guidance maintained

Edelweiss

Axis Bank’s Toxic Call to Staff to Fight, Abuse, and Undermine One Another in Pursuit of Business

Strategy of abusing staff so far has failed but with board of directors' endorsement, more of the same is being implemented which may have adverse...

Hemindra Hazari

Will IndusInd’s Reorganisation of Corporate Lending Trigger Another Round of Whistleblowing?

It remains to be seen whether the now-ousted seniors in corporate banking, inspired by their BFIL peers, venture into publicly revealing...

Hemindra Hazari

Spandana Spoorthy: Another Tale Of Investor and Promoter Tussle

Any failure in getting shareholder's approval may put Spandana into trouble and given few governance issues being highlighted by us, these hidden...

Nitin Mangal

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)