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.

Thematic (Sector/Industry)

<ul><li>Stock investment endeavours to deliver consistent outperformance in the long term by making a diversified investment of ‘Winners’.</li><li>Axis Intellect (AI) Score based Investment Approach for Stock Selection applies unique approach to deliver alpha by applying equal exposure to ‘Core’ and ‘Satellite’ factors.</li><li>What are ‘Core’ Factors’: Low Volatility, Value, Growth, Quality, Momentum (Equal weighted 50% exposure) What are ‘Satellite’ Factors: Factors that have historically done well in the predicted regime modelling (Remaining 50% exposure)</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.

Stock investment endeavours to deliver consistent outperformance in the long term by making a diversified investment of ‘Winners’.Axis Intellect (AI) Score based Investment Approach for Stock Selection applies unique approach to deliver alpha by applying equal exposure to ‘Core’ and ‘Satellite’ factors.What are ‘Core’ Factors’: Low Volatility, Value, Growth, Quality, Momentum (Equal weighted 50% exposure) What are ‘Satellite’ Factors: Factors that have historically done well in the predicted regime modelling (Remaining 50% exposure)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>Banks (incl. SFBs) credit growth was marginally in line with our estimates, delivering an 15/5% YoY/QoQ growth in Q4, with a recovery in corporate demand for most larger banks, along with steady demand in the retail segment (particularly LAP, Auto and Gold) and a gradual pick-up in the unsecured segments (improved disbursement momentum driving sequential advances growth).</li><li>While our coverage universe PSU banks (+16/5% YoY/QoQ) continued to deliver strong credit growth, the larger private banks (+13/4% YoY/QoQ) witnessed growth revival during the quarter.</li><li>SFBs delivered strong growth (+25/8% YoY/QoQ) as unsecured segments, particularly MFI, resumed growth, while secured segments growth remained buoyant. </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.

Banks (incl. SFBs) credit growth was marginally in line with our estimates, delivering an 15/5% YoY/QoQ growth in Q4, with a recovery in corporate demand for most larger banks, along with steady demand in the retail segment (particularly LAP, Auto and Gold) and a gradual pick-up in the unsecured segments (improved disbursement momentum driving sequential advances growth).While our coverage universe PSU banks (+16/5% YoY/QoQ) continued to deliver strong credit growth, the larger private banks (+13/4% YoY/QoQ) witnessed growth revival during the quarter.SFBs delivered strong growth (+25/8% YoY/QoQ) as unsecured segments, particularly MFI, resumed growth, while secured segments growth remained buoyant. 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 Conviction Ideas - “Banks, Financial Services and Insurance (BFSI)”

Equity Bottom-Up

<ul><li>Growth Visibility Healthy; Momentum to Sustain: CUB’s growth engine has started to fire with credit growth at a multi-quarter high (+21/6% YoY/QoQ in Q3), and the management is confident of the momentum to continue, supported by healthy growth visibility in the MSME and Gold segment and a gradual ramp-up of the retail secured segment.</li><li>Given robust growth delivery in 9M and strong visibility in its core segments, the management has revised its credit growth guidance to mid-to-high teens for FY26.</li><li>The gold loan portfolio (~30% mix) continues its strong growth trajectory. </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.

Growth Visibility Healthy; Momentum to Sustain: CUB’s growth engine has started to fire with credit growth at a multi-quarter high (+21/6% YoY/QoQ in Q3), and the management is confident of the momentum to continue, supported by healthy growth visibility in the MSME and Gold segment and a gradual ramp-up of the retail secured segment.Given robust growth delivery in 9M and strong visibility in its core segments, the management has revised its credit growth guidance to mid-to-high teens for FY26.The gold loan portfolio (~30% mix) continues its strong growth trajectory. 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.

City Union Bank Ltd - Strong Quarter; Growth Engine Up and Running

<ul><li>Growth Visibility Healthy: CUB’s growth engine has started to fire, with credit growth at a decadal high (+18/7% YoY/QoQ in Q2), and the management is confident of the momentum to continue, supported by healthy growth visibility in the MSME and Gold segment, and a gradual ramp-up of the retail segment.</li><li>Despite robust growth delivery in H1FY26, significantly above industry growth, the management has reiterated its guidance of maintaining credit growth 2- 3% over industry growth, which we believe is conservative.</li><li>However, the bank is not averse to accelerating the pace of growth without compromising on asset quality. </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.

Growth Visibility Healthy: CUB’s growth engine has started to fire, with credit growth at a decadal high (+18/7% YoY/QoQ in Q2), and the management is confident of the momentum to continue, supported by healthy growth visibility in the MSME and Gold segment, and a gradual ramp-up of the retail segment.Despite robust growth delivery in H1FY26, significantly above industry growth, the management has reiterated its guidance of maintaining credit growth 2- 3% over industry growth, which we believe is conservative.However, the bank is not averse to accelerating the pace of growth without compromising on asset quality. 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.

City Union Bank Ltd. - Strong Quarter; Consistent RoA Delivery of Over 1.5% to Continue!

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.

<ul><li>India’s financial sector has remained resilient amid global uncertainties but rising geopolitical tensions, particularly conflicts affecting energy markets and trade flows, pose both challenges and opportunities</li><li>Banks and NBFCs are navigating a complex landscape shaped by external shocks, domestic elections, inflationary pressures, and evolving policy responses</li><li>The RBI has maintained a calibrated approach, balancing inflation control with growth support</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.

India’s financial sector has remained resilient amid global uncertainties but rising geopolitical tensions, particularly conflicts affecting energy markets and trade flows, pose both challenges and opportunitiesBanks and NBFCs are navigating a complex landscape shaped by external shocks, domestic elections, inflationary pressures, and evolving policy responsesThe RBI has maintained a calibrated approach, balancing inflation control with growth supportContent 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.

Leveraged Financials: Risk Premium on the Rise, Flight to Safety

India

City Union Bank Ltd. is a full service bank. The Bank offers a wide range of banking and financial services across India, including both domestic and International banking services.

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City Union Bank (CUBK IN)

Axis Intellect - Aggressive

Stock investment endeavours to deliver consistent outperformance in the long term by making a diversified investment of ‘Winners’.

Axis Direct

Top Conviction Ideas - “Banks, Financial Services and Insurance (BFSI)”

While our coverage universe PSU banks (+16/5% YoY/QoQ) continued to deliver strong credit growth, the larger private banks (+13/4% YoY/QoQ)...

Axis Direct

City Union Bank Ltd - Strong Quarter; Growth Engine Up and Running

Growth Visibility Healthy; Momentum to Sustain: CUB’s growth engine has started to fire with credit growth at a multi-quarter high (+21/6% YoY/QoQ...

Axis Direct

City Union Bank Ltd. - Strong Quarter; Consistent RoA Delivery of Over 1.5% to Continue!

Growth Visibility Healthy: CUB’s growth engine has started to fire, with credit growth at a decadal high (+18/7% YoY/QoQ in Q2), and the management...

Axis Direct

Leveraged Financials: Risk Premium on the Rise, Flight to Safety

Banks and NBFCs are navigating a complex landscape shaped by external shocks, domestic elections, inflationary pressures, and evolving policy...

HDFC Securities

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