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.

Equity Bottom-Up

<ul><li>Despite the rising scale and complexity of its operations, Bajaj Finance (BAF) has continued to deliver a healthy ~26% AUM CAGR from FY22-FY24E</li><li>This growth is largely attributed to a rebound in the acquisition engine through an omni-channel strategy, enhanced cross-sell of loans and other products, and the addition of new verticals</li><li>Despite the RBI-imposed embargo on Insta EMI cards and e-commerce loans (~4-5% of disbursements) and higher risk weights, we expect BAF to deliver on key metrics although the near-term growth is likely to taper off moderately.</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.

Despite the rising scale and complexity of its operations, Bajaj Finance (BAF) has continued to deliver a healthy ~26% AUM CAGR from FY22-FY24EThis growth is largely attributed to a rebound in the acquisition engine through an omni-channel strategy, enhanced cross-sell of loans and other products, and the addition of new verticalsDespite the RBI-imposed embargo on Insta EMI cards and e-commerce loans (~4-5% of disbursements) and higher risk weights, we expect BAF to deliver on key metrics although the near-term growth is likely to taper off moderately.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: Value Emerging, Upgrade to BUY

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.

Thematic (Sector/Industry)

<ul><li>As a part of the circular, the RBI has announced an increase in risk weight to 125% from the current 100% for all consumer credit exposure of commercial banks – both existing and new.</li><li>This will include personal loans but exclude housing, vehicle, and education loans as well as loans against gold and gold jewellery.</li><li>The regulator also increased the risk weight for exposure of consumer credit exposure of NBFCs (outstanding as well as new) categorised as retail loans from the current 100% to 125%.</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.

As a part of the circular, the RBI has announced an increase in risk weight to 125% from the current 100% for all consumer credit exposure of commercial banks – both existing and new.This will include personal loans but exclude housing, vehicle, and education loans as well as loans against gold and gold jewellery.The regulator also increased the risk weight for exposure of consumer credit exposure of NBFCs (outstanding as well as new) categorised as retail loans from the current 100% to 125%.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.

BFSI Sector Update - RBI Regulation on Risk Weight

<ul><li>The Reserve Bank of India (RBI) has directed Bajaj Finance Ltd. (BAF) to stop sanction and disbursal of loans under its two lending products – ‘eCOM’ and ‘Insta EMI Card’, with immediate effect.</li><li>This action has been initiated owing to the non-adherence of BAF to the extant provisions of digital lending guidelines of the RBI, particularly the non-issuance of Key Fact Statements (KFS) to the borrowers under these two lending products and the deficiencies in the KFS issued in respect of other digital loans sanctioned by the company.</li><li>The RBI shall review these restrictions only upon the rectification of these grievances to the regulator’s satisfaction.</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 Reserve Bank of India (RBI) has directed Bajaj Finance Ltd. (BAF) to stop sanction and disbursal of loans under its two lending products – ‘eCOM’ and ‘Insta EMI Card’, with immediate effect.This action has been initiated owing to the non-adherence of BAF to the extant provisions of digital lending guidelines of the RBI, particularly the non-issuance of Key Fact Statements (KFS) to the borrowers under these two lending products and the deficiencies in the KFS issued in respect of other digital loans sanctioned by the company.The RBI shall review these restrictions only upon the rectification of these grievances to the regulator’s satisfaction.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 - RBI Restricts Disbursal of Loans Under Two Digital Lending Products

<ul><li>Bajaj Finance: Bajaj Finance (BAF) delivered a strong set of numbers on the back of higher-than-expected growth in AUM (+33% YoY), customer additions (+37% YoY) and new loans booked (+26% YoY)</li><li>NIMs were sequentially softer by 14bps on account of a spike in funding costs, which is likely to further sustain into Q3FY24, reflecting in incremental NIM compression to the tune of 25-30bps</li><li>While our FY24 AUM growth forecast (+28%) is moderately behind management guidance, we believe that NIM compression is likely to be offset by improving operating leverage (Q2FY24: 34%)</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 set of numbers on the back of higher-than-expected growth in AUM (+33% YoY), customer additions (+37% YoY) and new loans booked (+26% YoY)NIMs were sequentially softer by 14bps on account of a spike in funding costs, which is likely to further sustain into Q3FY24, reflecting in incremental NIM compression to the tune of 25-30bpsWhile our FY24 AUM growth forecast (+28%) is moderately behind management guidance, we believe that NIM compression is likely to be offset by improving operating leverage (Q2FY24: 34%)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: Bajaj Finance, ICICI Prudential Life

HSIE Results Daily: Bajaj Finance, ICICI Prudential Life, L&T Technology Services

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)

Bajaj Finance: Value Emerging, Upgrade to BUY

Despite the rising scale and complexity of its operations, Bajaj Finance (BAF) has continued to deliver a healthy ~26% AUM CAGR from FY22-FY24E

HDFC Securities

BFSI Sector Update - RBI Regulation on Risk Weight

As a part of the circular, the RBI has announced an increase in risk weight to 125% from the current 100% for all consumer credit exposure of...

Axis Direct

Bajaj Finance Ltd - RBI Restricts Disbursal of Loans Under Two Digital Lending Products

(BAF) to stop sanction and disbursal of loans under its two lending products – ‘eCOM’ and ‘Insta EMI Card’, with immediate effect.

Axis Direct

HSIE Results Daily: Bajaj Finance, ICICI Prudential Life

Bajaj Finance: Bajaj Finance (BAF) delivered a strong set of numbers on the back of higher-than-expected growth in AUM (+33% YoY), customer...

HDFC Securities

HSIE Results Daily: Bajaj Finance, ICICI Prudential Life, L&T Technology Services

Bajaj Finance (BAF) delivered a strong set of numbers on the back of higher-than-expected growth in AUM (+33% YoY), customer additions (+37% YoY)...

HDFC Securities

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