HSIE Results Daily: ITC, State Bank of India, Berger Paints, Tata Elxsi
ITC: ITC’s Q4 print was largely in-line with Revenue/EBITDA/APAT growing by 7/19/20% vs the expectation of 8/17/17%. Cigarette revenue/EBIT growth...
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State Bank of India - Healthy Quarter; 1% RoA Delivery to Continue!!
The healthy growth in the loan book was driven by retail book growth of ~18/5%YoY/QoQ (unsecured retail Xpress credit grew 23/12% YoY/QoQ)
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Leveraged Financials: ‘Pause and Effect’ - interesting trade-offs ahead
As banks and NBFCs navigate the growth-margin trade-off, we argue that the combination of lower growth and lower spreads is not priced into valuations
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Bfsi Q4fy23 Result Preview – yet Another Strong Quarter!
We expect the banks under our coverage to mirror the strong systemic credit growth, thereby delivering a robust ~17% YoY credit growth in Q4FY23.
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Housing Finance: New market structures open up investment universe
India’s home loan (HL) market (INR26trn, 17% of overall credit) is poised to double by FY28E on the back of secular trends around improving...
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