External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

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Thematic (Sector/Industry)

<ul><li>Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)</li><li>Mirroring trends of previous quarters, demand recovery remains gradual with the urban market leading growth with premium portfolio sustaining outperformance over the mass portfolio</li><li>Given the benign input cost environment, local competitive intensity remains high</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.

Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)Mirroring trends of previous quarters, demand recovery remains gradual with the urban market leading growth with premium portfolio sustaining outperformance over the mass portfolioGiven the benign input cost environment, local competitive intensity remains highContent 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: Hindustan Unilever, Axis Bank, Indian Hotels

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

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Equity Bottom-Up

<ul><li>Prabhudas Lilladher's research report onAxis Bank AXSB delivered a good quarter as core PPoP beat PLe by 3.6% driven by better fees and NII.</li><li>While loan growth at 14.2% YoY was a slight miss (86bps), reported NIM increased by 5bps QoQ to 4.06%, which was a positive given NIM environment is tough.</li><li>Balance sheet profile has been improving since (1) share of higher yielding retail (incl.</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.

Prabhudas Lilladher's research report onAxis Bank AXSB delivered a good quarter as core PPoP beat PLe by 3.6% driven by better fees and NII.While loan growth at 14.2% YoY was a slight miss (86bps), reported NIM increased by 5bps QoQ to 4.06%, which was a positive given NIM environment is tough.Balance sheet profile has been improving since (1) share of higher yielding retail (incl.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 Bank - Balance Sheet Profile to Cushion NIM

External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

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>Emkay Global Financial's research report onAxis Bank Despite slower credit growth at 14% YoY/3.5% QoQ, Axis Bank reported 5bps QoQ margin expansion, mainly on a contained rise in CoF and steady increase in share of retail portfolio.</li><li>This, along with higher trading gains, partly offset by elevated opex &amp; provision, led to a 5% beat on PAT at Rs71.3bn.</li><li>Mgmt guides systemic credit growth slowing down in FY25, but expects Axis Bank to outgrow the system mainly led by continued traction in retail which, in turn, should support its margins.</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.

Emkay Global Financial's research report onAxis Bank Despite slower credit growth at 14% YoY/3.5% QoQ, Axis Bank reported 5bps QoQ margin expansion, mainly on a contained rise in CoF and steady increase in share of retail portfolio.This, along with higher trading gains, partly offset by elevated opex &amp; provision, led to a 5% beat on PAT at Rs71.3bn.Mgmt guides systemic credit growth slowing down in FY25, but expects Axis Bank to outgrow the system mainly led by continued traction in retail which, in turn, should support its 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.

Axis Bank - Steady Retail Build-Up Aids Margin Expansion

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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>ICICI Securities research report onAxis Bank Driven by NIM uptick (vs. our estimate of decline), bulky treasury gains and contained opex, Axis Bank (Axis) reported a strong Q4FY24 PAT of INR 71.3bn.</li><li>Reported RoA came in at a historical high of 2.0%, while asset quality remained comfortable.</li><li>Other positives in the results were improvement in LDR (down to 90% vs. 93%), uptick in LCR (120% vs. 118% QoQ) and PSL compliance on overall as well as sub-segment basis.</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.

ICICI Securities research report onAxis Bank Driven by NIM uptick (vs. our estimate of decline), bulky treasury gains and contained opex, Axis Bank (Axis) reported a strong Q4FY24 PAT of INR 71.3bn.Reported RoA came in at a historical high of 2.0%, while asset quality remained comfortable.Other positives in the results were improvement in LDR (down to 90% vs. 93%), uptick in LCR (120% vs. 118% QoQ) and PSL compliance on overall as well as sub-segment basis.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 Bank - Strong Quarter with Historical High RoA of 2.0%

HSIE Results Daily: Hindustan Unilever, Axis Bank,

India

Axis Bank Limited provides a full range of banking services throughout India. The Group's activities include retail banking, investment management, merchant banking, treasury and NRI services, cash and credit management services, and ATM facilities.

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Axis Bank Ltd (AXSB IN)

HSIE Results Daily: Hindustan Unilever, Axis Bank, Indian Hotels

Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)

HDFC Securities

Axis Bank - Balance Sheet Profile to Cushion NIM

Prabhudas Lilladher's research report onAxis Bank AXSB delivered a good quarter as core PPoP beat PLe by 3.6% driven by better fees and NII.

Prabhudas Lilladhar

Axis Bank - Steady Retail Build-Up Aids Margin Expansion

Emkay Global Financial's research report onAxis Bank Despite slower credit growth at 14% YoY/3.5% QoQ, Axis Bank reported 5bps QoQ margin expansion

Emkay

Axis Bank - Strong Quarter with Historical High RoA of 2.0%

Other positives in the results were improvement in LDR (down to 90% vs. 93%), uptick in LCR (120% vs. 118% QoQ) and PSL compliance on overall as...

ICICI Securities Limited

HSIE Results Daily: Hindustan Unilever, Axis Bank,

Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)

HDFC Securities

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