External broker reports(aggregated public sources), Axis Direct

Axis Direct

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.

Thematic (Sector/Industry)

<ul><li>Banks (incl. SFBs) under our coverage reported an in-line performance, delivering a credit growth at ~12% YoY, mirroring systemic growth.</li><li>This was owing to the continuous and conscious slowdown visible in the unsecured segments, particularly microfinance, credit cards and personal loans, as asset quality concerns continued to haunt.</li><li>Credit growth was primarily driven by Retail and SME portfolios, while banks continued to remain aloof in pursuing corporate growth given pricing pressures. </li></ul>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.

Banks (incl. SFBs) under our coverage reported an in-line performance, delivering a credit growth at ~12% YoY, mirroring systemic growth.This was owing to the continuous and conscious slowdown visible in the unsecured segments, particularly microfinance, credit cards and personal loans, as asset quality concerns continued to haunt.Credit growth was primarily driven by Retail and SME portfolios, while banks continued to remain aloof in pursuing corporate growth given pricing pressures. 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.

Top Conviction Ideas - “Banks, Financial Services and Insurance (BFSI) ”

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. 

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.

<ul><li>State Bank of India: SBIN’s Q3FY25 earnings missed our estimates owing to lower treasury/MTM gains and softer margins, offset by strong operational performance and reversal of standard asset provisions</li><li>Loan growth (~13.8% YoY) was healthy across all segments, while the growth in Xpress credit portfolio decelerated further</li><li>Deposit growth (+9% YoY, +2.2% QoQ) was marginally soft as the CASA ratio dropped further to 37.6% (-84bps QoQ), due to weaker traction in SA balances</li></ul>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.

State Bank of India: SBIN’s Q3FY25 earnings missed our estimates owing to lower treasury/MTM gains and softer margins, offset by strong operational performance and reversal of standard asset provisionsLoan growth (~13.8% YoY) was healthy across all segments, while the growth in Xpress credit portfolio decelerated furtherDeposit growth (+9% YoY, +2.2% QoQ) was marginally soft as the CASA ratio dropped further to 37.6% (-84bps QoQ), due to weaker traction in SA balancesContent 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.

HSIE Results Daily: State Bank of India, Trent, BSE, Gujarat Gas, Motherson Sumi Wiring India

<ul><li>Axis Top Picks Basket delivered excellent returns of 12% in the last year against an 8.2% return posted by Nifty 50 over the same period, beating the benchmark by a wide margin of 3.8%.</li><li>The previous four months were highly volatile for the market, and a notable mixed performance was seen across sectors, market caps, and style indices.</li><li>The Axis Top Picks basket declined by 6.5% in the last three months, led by volatility, while the Nifty 50 was down by 3.4% during the same period. </li></ul>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.

Axis Top Picks Basket delivered excellent returns of 12% in the last year against an 8.2% return posted by Nifty 50 over the same period, beating the benchmark by a wide margin of 3.8%.The previous four months were highly volatile for the market, and a notable mixed performance was seen across sectors, market caps, and style indices.The Axis Top Picks basket declined by 6.5% in the last three months, led by volatility, while the Nifty 50 was down by 3.4% during the same period. 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.

Axis Top Picks for the month of February 2025

<ul><li>The systemic credit growth (as of 13th December, 2024) has tapered to ~11.5% vs 15-16% in the recent past.</li><li>This is primarily driven by a significant slowdown in the unsecured loans alongside banks, mainly private banks intending to bring down their LDRs to a balanced level.</li><li>Amidst concerns around asset quality in certain segments (majorly unsecured lending), weaker-than-expected macro data and constraints around LDR (for certain banks), banks have been cautious towards chasing aggressive growth. .</li></ul>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.

The systemic credit growth (as of 13th December, 2024) has tapered to ~11.5% vs 15-16% in the recent past.This is primarily driven by a significant slowdown in the unsecured loans alongside banks, mainly private banks intending to bring down their LDRs to a balanced level.Amidst concerns around asset quality in certain segments (majorly unsecured lending), weaker-than-expected macro data and constraints around LDR (for certain banks), banks have been cautious towards chasing aggressive growth. .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.

Q3FY25 Earnings Preview - Banks, Financial Services and Insurance (BFSI)

External broker reports(aggregated public sources), Sharekhan

Sharekhan

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

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 (State Bank of India) / Equity Bottom-Up

<ul><li>SBI is reasonably confident to deliver ~15% loan growth and RoE of 16-18% in the near to medium term.</li><li>The bank is well positioned to manage sectoral headwinds, given surplus liquidity and comfortable LDR at ~75%, while the overall impact on margins would not be significant if the rate cuts cycle starts as it has levers to restrict the impact.</li><li>The asset quality is holding up well and the portfolio is still not showing worrying signs, including unsecured retail loans despite the slowdown in growth.</li></ul>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.

SBI is reasonably confident to deliver ~15% loan growth and RoE of 16-18% in the near to medium term.The bank is well positioned to manage sectoral headwinds, given surplus liquidity and comfortable LDR at ~75%, while the overall impact on margins would not be significant if the rate cuts cycle starts as it has levers to restrict the impact.The asset quality is holding up well and the portfolio is still not showing worrying signs, including unsecured retail loans despite the slowdown in growth.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.

India

State Bank of India provides a wide range of banking and financial services to corporate, institutional, commercial, agricultural, industrial and individual customers throughout India.  The Bank also provides international banking to its Indian customers and has operations in other countries.

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SBI (State Bank of India) (SBIN IN)

Top Conviction Ideas - “Banks, Financial Services and Insurance (BFSI) ”

Banks (incl. SFBs) under our coverage reported an in-line performance, delivering a credit growth at ~12% YoY, mirroring systemic growth.

Axis Direct

HSIE Results Daily: State Bank of India, Trent, BSE, Gujarat Gas, Motherson Sumi Wiring India

SBIN’s Q3FY25 earnings missed our estimates owing to lower treasury/MTM gains and softer margins, offset by strong operational performance

HDFC Securities

Axis Top Picks for the month of February 2025

Axis Top Picks Basket delivered excellent returns of 12% in the last year against an 8.2% return posted by Nifty 50 over the same period, beating...

Axis Direct

Q3FY25 Earnings Preview - Banks, Financial Services and Insurance (BFSI)

We expect banks under our coverage to deliver ~12% YoY credit growth in Q3FY25, in-line with industry growth. We would expect the systemic growth...

Axis Direct

State Bank of India - On Strong Footing

SBI is reasonably confident to deliver ~15% loan growth and RoE of 16-18% in the near to medium term.The bank is well positioned to manage sectoral...

Sharekhan

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