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>Astral: We maintain our REDUCE rating on Astral with a revised TP of INR 2,180/sh (34x its Dec-23E consolidated EBITDA, implying 53x P/E)</li><li>Aarti Industries: We maintain our BUY recommendation on Aarti Industries (AIL) with a target price of INR 1,380/share</li><li>Aditya Birla Capital: We maintain BUY on ABCL with a revised SOTP-based TP of INR157 and initiate coverage on ABSLAMC with a target price of INR720</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>

Astral: We maintain our REDUCE rating on Astral with a revised TP of INR 2,180/sh (34x its Dec-23E consolidated EBITDA, implying 53x P/E)Aarti Industries: We maintain our BUY recommendation on Aarti Industries (AIL) with a target price of INR 1,380/shareAditya Birla Capital: We maintain BUY on ABCL with a revised SOTP-based TP of INR157 and initiate coverage on ABSLAMC with a target price of INR720Content 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: Astral, Aarti Industries , Aditya Birla Capital, Narayana Health, Radico...

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.

CreditAccess Grameen Ltd / Equity Bottom-Up

<ul><li>CreditAccessGrameen Ltd. (CAG) reported numbers that were ahead of our expectations with improved performance on the operational as well as asset quality front</li><li>On the operational front, Disbursements during the quarter stood at Rs 4,720 Cr (+3% YoY, +21% QoQ)</li><li>We maintain our BUY recommendation on the stock and value CAG at 2.5x H1FY24E BV to arrive at a target price of Rs 825/share, implying an upside of 13% from CMP.</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>

CreditAccessGrameen Ltd. (CAG) reported numbers that were ahead of our expectations with improved performance on the operational as well as asset quality frontOn the operational front, Disbursements during the quarter stood at Rs 4,720 Cr (+3% YoY, +21% QoQ)We maintain our BUY recommendation on the stock and value CAG at 2.5x H1FY24E BV to arrive at a target price of Rs 825/share, implying an upside of 13% 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.

CreditAccess Grameen: Gearing to Resume Business as Usual from FY23E Onwards!

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.

<p>CA Grameen’s journey from being a project under T Muniswamappa Trust (TMT) in 1999, an NGO in South Bangalore, to becoming the largest NBFC-MFI in India as on Sep’21 with consolidated AUM of Rs133bn and borrower base of 3.75mn is testimony of its resilient business model. It has been successfully navigating many challenging events like AP crisis, demonetisation and two covid waves.</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>

CA Grameen’s journey from being a project under T Muniswamappa Trust (TMT) in 1999, an NGO in South Bangalore, to becoming the largest NBFC-MFI in India as on Sep’21 with consolidated AUM of Rs133bn and borrower base of 3.75mn is testimony of its resilient business model. It has been successfully navigating many challenging events like AP crisis, demonetisation and two covid waves.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.

Vision 2025: Aims at business diversification; to become more agile, predictable and sustainable

<p>We recommend a BUY on the stock and value CAG at 2.3x H1FY24E BV to arrive at a target price of Rs 715/share, implying an upside of 37% 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 recommend a BUY on the stock and value CAG at 2.3x H1FY24E BV to arrive at a target price of Rs 715/share, implying an upside of 37% 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.

India

CreditAccess Grameen Limited provides consumer finance services. The Company offers income generation, home improvement, emergency, and family welfare loans, as well as retail finance, insurance, and healthcare programs. CreditAccess Grameen serves clients in India.

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CreditAccess Grameen Ltd (CREDAG IN)

HSIE Results Daily: Astral, Aarti Industries , Aditya Birla Capital, Narayana Health, Radico...

Prince Pipes: We maintain our BUY rating on Prince Pipes, with an unchanged target price of INR 940/sh (18.5x its Dec-23E EBITDA, implying 31x P...

HDFC Securities

CreditAccess Grameen: Gearing to Resume Business as Usual from FY23E Onwards!

We maintain our BUY recommendation on the stock and value CAG at 2.5x H1FY24E BV to arrive at a target price of Rs 825/share, implying an upside of...

Axis Direct

Vision 2025: Aims at business diversification; to become more agile, predictable and sustainable

CA Grameen’s journey from being a project under T Muniswamappa Trust (TMT) in 1999, an NGO in South Bangalore, to becoming the largest NBFC-MFI in...

ICICI Securities Limited

Vision 2025: Aims at business diversification; to become more agile, predictable and sustainable

CA Grameen’s journey from being a project under T Muniswamappa Trust (TMT) in 1999, an NGO in South Bangalore, to becoming the largest NBFC-MFI in...

ICICI Securities Limited

Axis Annual Analysis:CreditAcc. Gram.

We recommend a BUY on the stock and value CAG at 2.3x H1FY24E BV to arrive at a target price of Rs 715/share, implying an upside of 37% from CMP.

Axis Direct

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