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. 

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Thematic (Sector/Industry)

<ul>
<li>We expect loan growth momentum for banks to sustain on a sequential basis, mainly driven by Retail/SME segments</li>
<li>Deposit growth continues to remain range-bound. However, most banks have reported a healthy CASA growth aiding CoF, thereby supporting margins.</li>
<li>Positive result plays: SBI, ICICI Bank, HDFC Bank, CanFin Homes, SBI Cards, AU Small Finance Bank</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>


We expect loan growth momentum for banks to sustain on a sequential basis, mainly driven by Retail/SME segments
Deposit growth continues to remain range-bound. However, most banks have reported a healthy CASA growth aiding CoF, thereby supporting margins.
Positive result plays: SBI, ICICI Bank, HDFC Bank, CanFin Homes, SBI Cards, AU Small Finance Bank

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 Q4FY22 Result Preview – Growth Momentum Robust; Asset Quality Pressures to Ease

Equity Bottom-Up

<ul><li>Can Fin Homes (CANF) reported encouraging numbers in Q3FY22 with the pick-up in loan growth led by higher disbursements, improved NIMs due to higher yields, and strong asset quality</li><li>AUM grew 20% YoY/6% QoQ, led by higher disbursements (up 123% YoY/12% QoQ).</li><li>We believe CANF has notable scope for expansion in valuations and we maintain a BUY with a revised target price of Rs 750.</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>

Can Fin Homes (CANF) reported encouraging numbers in Q3FY22 with the pick-up in loan growth led by higher disbursements, improved NIMs due to higher yields, and strong asset qualityAUM grew 20% YoY/6% QoQ, led by higher disbursements (up 123% YoY/12% QoQ).We believe CANF has notable scope for expansion in valuations and we maintain a BUY with a revised target price of Rs 750.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.

Can Fin Homes: Loan Growth Picks Up; Maintain BUY

<p>We believe CANF has notable scope for expansion in valuations and hence maintain a BUY rating on the stock with a target price of Rs 800 (3x FY23E ABV).</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 believe CANF has notable scope for expansion in valuations and hence maintain a BUY rating on the stock with a target price of Rs 800 (3x FY23E ABV).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.

Can Fin Homes: Margin & Growth Improves; Maintain BUY

<p>Can Fin Homes (CANF) – promoted by Canara Bank (30% stake), is a 33 year old retail-focused housing finance company. Headquartered in Bangalore, it has a pan-India presence with 165 branches, 21 Affordable Housing Loan Centers, and 14 Satellite Offices spread across 21 States/Union Territories. The company’s 90% of the loan book is for Housing and the rest 10% is for the Non-housing segment.</p><p>We recommend a BUY on the stock with a target price of Rs 738/share.</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>

Can Fin Homes (CANF) – promoted by Canara Bank (30% stake), is a 33 year old retail-focused housing finance company. Headquartered in Bangalore, it has a pan-India presence with 165 branches, 21 Affordable Housing Loan Centers, and 14 Satellite Offices spread across 21 States/Union Territories. The company’s 90% of the loan book is for Housing and the rest 10% is for the Non-housing segment.We recommend a BUY on the stock with a target price of Rs 738/share.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.

Pick of the Week: Can Fin Homes (CANF IN)

<p>Can Fin Homes (CANF) earnings were in line with cost savings and lower provisions led to PAT growth of 17%/6% YoY/QoQ to Rs 109 Cr. However, loan growth was tepid at 7% YoY and disbursements were down 55% QoQ as the company could conduct its business only for 45 days due to lockdowns in force. NIM came down to 3.3% from ~3.9% on account of the company’s pricing strategy.</p><p>We revise our rating to BUY from HOLD with a revised target price of Rs 605 (2.3x FY23E ABV).</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>

Can Fin Homes (CANF) earnings were in line with cost savings and lower provisions led to PAT growth of 17%/6% YoY/QoQ to Rs 109 Cr. However, loan growth was tepid at 7% YoY and disbursements were down 55% QoQ as the company could conduct its business only for 45 days due to lockdowns in force. NIM came down to 3.3% from ~3.9% on account of the company’s pricing strategy.We revise our rating to BUY from HOLD with a revised target price of Rs 605 (2.3x FY23E ABV).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.

Can Fin Homes: Margin And Growth Outlook To Improve

India

Can Fin Homes Ltd provides housing finance.  The company offers long term housing loans to middle and lower income individuals or corporate bodies for construction and acquiring houses/flats.

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Can Fin Homes (CANF IN)

BFSI Q4FY22 Result Preview – Growth Momentum Robust; Asset Quality Pressures to Ease

We expect loan growth momentum for banks to sustain on a sequential basis, mainly driven by Retail/SME segments. Deposit growth continues to remain...

Axis Direct

Can Fin Homes: Loan Growth Picks Up; Maintain BUY

Can Fin Homes (CANF) reported encouraging numbers in Q3FY22 with the pick-up in loan growth led by higher disbursements, improved NIMs due to...

Axis Direct

Can Fin Homes: Margin & Growth Improves; Maintain BUY

We believe CANF has notable scope for expansion in valuations and hence maintain a BUY rating on the stock with a target price of Rs 800 (3x FY23E...

Axis Direct

Pick of the Week: Can Fin Homes (CANF IN)

We recommend a BUY on the stock with a target price of Rs 738/share. Can Fin Homes (CANF) – promoted by Canara Bank (30% stake), is a 33 year old...

Axis Direct

Can Fin Homes: Margin And Growth Outlook To Improve

We revise our rating to BUY from HOLD with a revised target price of Rs 605 (2.3x FY23E ABV). Can Fin Homes (CANF) earnings were in line with cost...

Axis Direct

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