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.

Equity Bottom-Up

<ul><li>AU Small Finance Bank Ltd. (AUSFB) reported a strong performance which was broadly in line with our expectations.</li><li>The asset quality improvement trend continued as GNPA improved by 60bps to 2% vs 2.6% QoQ aided by strong recoveries/upgrades along with moderation in slippages</li><li>We maintain our BUY recommendation on the stock and value AUSFB at 4.8x FY24E ABV to arrive at a target price of Rs 1,560/share, implying an upside of 10% from CMP.</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>

AU Small Finance Bank Ltd. (AUSFB) reported a strong performance which was broadly in line with our expectations.The asset quality improvement trend continued as GNPA improved by 60bps to 2% vs 2.6% QoQ aided by strong recoveries/upgrades along with moderation in slippagesWe maintain our BUY recommendation on the stock and value AUSFB at 4.8x FY24E ABV to arrive at a target price of Rs 1,560/share, implying an upside of 10% from CMP.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.

AU Small Finance Bank: Excellent Quarter, Growth Outlook Robust

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>AU Small Finance Bank (AU) has always remained ahead in pre-empting future business trends and building capabilities to serve the evolving needs of customers.</li><li>We derive this view from AU’s past initiatives.</li><li>.</li></ul><div class="content-highlight"><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></div>

AU Small Finance Bank (AU) has always remained ahead in pre-empting future business trends and building capabilities to serve the evolving needs of customers.We derive this view from AU’s past initiatives..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.

Reorganises itself into 10 SBUs to ensure sustainability and scalability

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.

<p>GAIL (India): Our BUY recommendation on GAIL with a price target of INR 210 is based on 9% CAGR expansion in gas transmission volume over FY22-24E to 136mmscmd on the back of (1) increase in domestic gas production, (2) increase in demand of RLNG, and (3) completion of major pipelines in eastern and southern India. Q2FY22 EBITDA/APAT were 34/47% above our estimates, owing to a 7% higher revenue, lower-than-expected raw material cost, higher-than-expected other income, and lower-than-expected tax outgo.</p>
<div class="content-highlight"><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></div>

GAIL (India): Our BUY recommendation on GAIL with a price target of INR 210 is based on 9% CAGR expansion in gas transmission volume over FY22-24E to 136mmscmd on the back of (1) increase in domestic gas production, (2) increase in demand of RLNG, and (3) completion of major pipelines in eastern and southern India. Q2FY22 EBITDA/APAT were 34/47% above our estimates, owing to a 7% higher revenue, lower-than-expected raw material cost, higher-than-expected other income, and lower-than-expected tax outgo.
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.

HSIE Results Daily: NTPC, DLF, InterGlobe Aviation, Tata Power, GAIL (India), JSW Energy, Bandhan...

<p>We retain our BUY recommendation on the stock with a revised TP of Rs 1,285 (4.3x FY24E ABV), implying an upside of 11% from CMP.</p><div class="content-highlight"><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></div>

We retain our BUY recommendation on the stock with a revised TP of Rs 1,285 (4.3x FY24E ABV), implying an upside of 11% from CMP.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.

AU Small Finance: Top-Level Management Attrition Poses Near-Term Concerns

<p>We introduce FY24 estimates. We maintain our BUY recommendation on the stock and value AUSFB at 4.6x FY24E ABV and arrive at a target price of Rs 1,375/share, implying an upside of 10% from CMP.</p><div class="content-highlight"><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></div>

We introduce FY24 estimates. We maintain our BUY recommendation on the stock and value AUSFB at 4.6x FY24E ABV and arrive at a target price of Rs 1,375/share, implying an upside of 10% from CMP.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.

AU Small Finance: Asset Quality Stable, Demand Pick-Up Is Encouraging

India

AU Small Finance Bank Limited is an Indian scheduled commercial small finance bank. It offers a diverse range of products including savings accounts, current accounts, fixed deposits, loans (vehicle, MSME, housing, personal, gold, agriculture), debit and credit cards, and insurance. The company was founded in 1996 and is headquartered in Jaipur, Rajasthan, India.

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AU Small Finance Bank (AUBANK IN)

AU Small Finance Bank: Excellent Quarter, Growth Outlook Robust

We maintain our BUY recommendation on the stock and value AUSFB at 4.8x FY24E ABV to arrive at a target price of Rs 1,560/share, implying an upside...

Axis Direct

Reorganises itself into 10 SBUs to ensure sustainability and scalability

AU Small Finance Bank (AU) has always remained ahead in pre-empting future business trends and building capabilities to serve the evolving needs of...

ICICI Securities Limited

HSIE Results Daily: NTPC, DLF, InterGlobe Aviation, Tata Power, GAIL (India), JSW Energy, Bandhan...

GAIL (India): Our BUY recommendation on GAIL with a price target of INR 210 is based on 9% CAGR expansion in gas transmission volume over FY22-24E...

HDFC Securities

AU Small Finance: Top-Level Management Attrition Poses Near-Term Concerns

We retain our BUY recommendation on the stock with a revised TP of Rs 1,285 (4.3x FY24E ABV), implying an upside of 11% from CMP.

Axis Direct

AU Small Finance: Asset Quality Stable, Demand Pick-Up Is Encouraging

We introduce FY24 estimates. We maintain our BUY recommendation on the stock and value AUSFB at 4.6x FY24E ABV and arrive at a target price of Rs...

Axis Direct

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