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. 

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>Q3FY23 earnings season saw an overall in-line performance, with wide divergences across sectors and companies</li><li>Aggregate revenue/PAT grew by 19%/6% YoY across the HSIE coverage universe (~208 stocks), their three-year CAGR being 15%/15%</li><li>Our coverage universe saw strong YoY growth in auto, lending financials, capital goods, staples and power sectors</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.

Q3FY23 earnings season saw an overall in-line performance, with wide divergences across sectors and companiesAggregate revenue/PAT grew by 19%/6% YoY across the HSIE coverage universe (~208 stocks), their three-year CAGR being 15%/15%Our coverage universe saw strong YoY growth in auto, lending financials, capital goods, staples and power sectorsContent 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 Equity Strategy: Commodity pressure easing, margin expansion on the cards

External broker reports(aggregated public sources), Axis Direct

Axis Direct

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>Long Range Strategy (LRS) to drive sustainable growth – As a part of the long-range strategy rolled out by Bajaj Finance (BAF), the company aspires to be a leading payments and financial services company in the country and look to dominate with 100 Mn consumer franchise commanding a market share of 3% of payments GMV and ~3-4%/4-5% of total credit/retail credit.</li><li>Focus remains on margin protection – The competitive intensity has remained elevated, especially in the mortgage segment and BAF continues to prioritize protecting margins.</li><li>The company is gradually passing on the impact of higher interest rates to customers (~50-70bps in the fixed loan products and entirely in the variable loans) across businesses.</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.

Long Range Strategy (LRS) to drive sustainable growth – As a part of the long-range strategy rolled out by Bajaj Finance (BAF), the company aspires to be a leading payments and financial services company in the country and look to dominate with 100 Mn consumer franchise commanding a market share of 3% of payments GMV and ~3-4%/4-5% of total credit/retail credit.Focus remains on margin protection – The competitive intensity has remained elevated, especially in the mortgage segment and BAF continues to prioritize protecting margins.The company is gradually passing on the impact of higher interest rates to customers (~50-70bps in the fixed loan products and entirely in the variable loans) across businesses.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.

Bajaj Finance Ltd. - Focus on Margin Protection Unabated

<ul><li>Bajaj Finance: Bajaj Finance (BAF) delivered a strong operating performance, with steady NIMs in a rising interest rate and strong AUM growth (+27% YoY) environment</li><li>The healthy AUM growth comes despite elevated competitive intensity in select segments such as home loans, B2B finance, etc</li><li>Asset quality improved further, with GS-II/GS-III at 1.3%/1.1% (FY22: 2%/1.6%) and normalised credit costs.</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.

Bajaj Finance: Bajaj Finance (BAF) delivered a strong operating performance, with steady NIMs in a rising interest rate and strong AUM growth (+27% YoY) environmentThe healthy AUM growth comes despite elevated competitive intensity in select segments such as home loans, B2B finance, etcAsset quality improved further, with GS-II/GS-III at 1.3%/1.1% (FY22: 2%/1.6%) and normalised credit costs.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.

<ul><li>Axis Top Picks basket outperformed the benchmark by a significant margin as it delivered an impressive return of 11% in 2022 as against 4.3% posted by Nifty 50 during the year.</li><li>The basket, however, declined by 1.8% in Dec’22 on account of the volatile equity market but it still managed to beat the 3.5% de-growth reported by the benchmark Nifty 50 on an MoM basis.</li><li>Furthermore, the basket has delivered an astounding return of 149% since its inception (May'20), which stands significantly higher than the 95% returns delivered by NIFTY 50 over 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 outperformed the benchmark by a significant margin as it delivered an impressive return of 11% in 2022 as against 4.3% posted by Nifty 50 during the year.The basket, however, declined by 1.8% in Dec’22 on account of the volatile equity market but it still managed to beat the 3.5% de-growth reported by the benchmark Nifty 50 on an MoM basis.Furthermore, the basket has delivered an astounding return of 149% since its inception (May'20), which stands significantly higher than the 95% returns delivered by NIFTY 50 over 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.

Top Picks - Near-Term Volatile, Continue ‘Buy On Dips’ Strategy for Equities

<ul><li>Axis Top Picks basket delivered impressive returns of 18%/19% in the last 6M/1YR respectively, outperforming the benchmark Index NIFTY 50 by an encouraging margin.</li><li>In Nov’22, the basket inched up further by 1%.</li><li>Furthermore, It has delivered an impressive return of 153% since its inception (May'20), which stands significantly higher than the 102% returns delivered by NIFTY 50 over 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 impressive returns of 18%/19% in the last 6M/1YR respectively, outperforming the benchmark Index NIFTY 50 by an encouraging margin.In Nov’22, the basket inched up further by 1%.Furthermore, It has delivered an impressive return of 153% since its inception (May'20), which stands significantly higher than the 102% returns delivered by NIFTY 50 over 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 December 2022

India

Bajaj Finance Limited is a financial services company that operates branches in India, which provide an assortment of financial services.

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Bajaj Finance Ltd (BAF IN)

India Equity Strategy: Commodity pressure easing, margin expansion on the cards

Aggregate revenue/PAT grew by 19%/6% YoY across the HSIE coverage universe (~208 stocks), their three-year CAGR being 15%/15%

HDFC Securities

Bajaj Finance Ltd. - Focus on Margin Protection Unabated

The competitive intensity has remained elevated, especially in the mortgage segment and BAF continues to prioritize protecting margins.

Axis Direct

HSIE Results Daily: Bajaj Finance, DLF

Bajaj Finance: Bajaj Finance (BAF) delivered a strong operating performance, with steady NIMs in a rising interest rate and strong AUM growth (+27%...

HDFC Securities

Top Picks - Near-Term Volatile, Continue ‘Buy On Dips’ Strategy for Equities

Axis Top Picks basket outperformed the benchmark by a significant margin as it delivered an impressive return of 11% in 2022 as against 4.3% posted...

Axis Direct

Axis Top Picks for the Month of December 2022

Axis Top Picks basket delivered impressive returns of 18%/19% in the last 6M/1YR respectively, outperforming the benchmark Index NIFTY 50 by an...

Axis Direct

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