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

<div><div><ul><li>Standalone oil to chemicals (O2C) segment: R<span style="font-size: var(--content-font-size);">evenue grew 53% YoY to INR </span><span style="font-size: var(--content-font-size);">1,370bn, primarily due to improved realisation, led by increase in oil prices </span><span style="font-size: var(--content-font-size);">and higher volumes.</span></li><li>Oil &amp; gas: Revenue grew ~4x YoY to INR 20bn and EBITDA improved ~5x <div><div><div><p>YoY to INR 15bn, driven by sharp improvement in price realisaton and stable <span style="font-size: var(--content-font-size);">production from the KG D6 block.</span></p></div></div></div></li></ul></div><div><div><div><ul><li>RJPL: Revenue improved to INR 261bn (+21% YoY, +8% QoQ) due to increase in ARPU to INR 168 (+21% YoY, +11% QoQ).</li></ul></div></div></div></div><div></div><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>

Standalone oil to chemicals (O2C) segment: Revenue grew 53% YoY to INR 1,370bn, primarily due to improved realisation, led by increase in oil prices and higher volumes.Oil &amp; gas: Revenue grew ~4x YoY to INR 20bn and EBITDA improved ~5x YoY to INR 15bn, driven by sharp improvement in price realisaton and stable production from the KG D6 block.RJPL: Revenue improved to INR 261bn (+21% YoY, +8% QoQ) due to increase in ARPU to INR 168 (+21% YoY, +11% QoQ).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.

Reliance Industries - Energy Business Outlook Sanguine

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

<div><div><div><div><ul><li>Guiding for 15% credit growth: Overall advances growth stood at 9.5% YoY and 2.8% QoQ. Retail loans increased by 10.7% YoY and 4.7% QoQ.</li></ul><div><div><div><div><ul><li>CASA share improves further: Deposits increased by 5.2% YoY and 3.6% QoQ. CASA deposits grew by 14.3% YoY.</li></ul><div><div><div><div><ul><li>Slippages trend down: Overall asset quality improved, with the GNPA ratio declining from 3.06% in 3QFY22 to 2.8% in 4QFY22.</li></ul></div></div></div></div></div></div></div></div></div></div></div></div><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>

Guiding for 15% credit growth: Overall advances growth stood at 9.5% YoY and 2.8% QoQ. Retail loans increased by 10.7% YoY and 4.7% QoQ.CASA share improves further: Deposits increased by 5.2% YoY and 3.6% QoQ. CASA deposits grew by 14.3% YoY.Slippages trend down: Overall asset quality improved, with the GNPA ratio declining from 3.06% in 3QFY22 to 2.8% in 4QFY22.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.

Federal Bank - Guiding for 15% Credit Growth and ROA Improvement

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.

<ul>
<li>Commodities and IT sectors are the biggest winners of FY22. In the last one year, the Metals sector has gone up 53%, Energy by 40%, commodities by 30%, and the IT index by 40%</li>
<li>However, the consumer-facing sectors closed FY22 on a muted note with FMCG reporting growth of only 4% and the Auto sector of 5%</li>
<li>The current market performance is factoring in the current rising inflation and the rising interest rate regime</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>


Commodities and IT sectors are the biggest winners of FY22. In the last one year, the Metals sector has gone up 53%, Energy by 40%, commodities by 30%, and the IT index by 40%
However, the consumer-facing sectors closed FY22 on a muted note with FMCG reporting growth of only 4% and the Auto sector of 5%
The current market performance is factoring in the current rising inflation and the rising interest rate regime

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.

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.

<ul><li>Federal Bank is an old private sector bank based out of Kerala with around 1274 branches and 1882 ATM across various states.</li><li>Strong liability franchisee with over 94% of total deposits being retail</li><li>Target Price and Valuation: Rolling to FY24E, we value Federal Bank at ~1.3x FY24E ABV and maintain our target price at Rs 120 per share</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>

Federal Bank is an old private sector bank based out of Kerala with around 1274 branches and 1882 ATM across various states.Strong liability franchisee with over 94% of total deposits being retailTarget Price and Valuation: Rolling to FY24E, we value Federal Bank at ~1.3x FY24E ABV and maintain our target price at Rs 120 per shareContent 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.

Federal Bank: Healthy Pick-Up in Advances; RoA Trajectory Positive

<ul><li>Federal Bank (FB) Q3FY22 performance was marked by lower provisions, improved recoveries and upgrades, pick-up in NIM, healthy fee income, and loan growth</li><li>This led to PAT growth of 29%/13% YoY/QoQ to Rs 5.2 Bn aiding ROA expansion to 1%</li><li>We maintain a BUY rating on the stock with a target price of Rs 125 (1.3x FY23EABV).</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>

Federal Bank (FB) Q3FY22 performance was marked by lower provisions, improved recoveries and upgrades, pick-up in NIM, healthy fee income, and loan growthThis led to PAT growth of 29%/13% YoY/QoQ to Rs 5.2 Bn aiding ROA expansion to 1%We maintain a BUY rating on the stock with a target price of Rs 125 (1.3x FY23EABV).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.

Federal Bank: Levers for ROA Expansion in Place; Maintain BUY

India

Federal Bank is a major Indian private sector commercial bank offering a comprehensive suite of banking and financial services, including retail banking, wholesale banking, and treasury operations. It provides products such as savings and current accounts, loans, credit and debit cards, insurance, and wealth management. The bank is headquartered in Aluva, Kochi, Kerala, India, and was founded on April 23, 1931.

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Federal Bank (FB IN)

Reliance Industries - Energy Business Outlook Sanguine

RIL reported standalone revenue of INR 1,295bn (+61% YoY; +16% QoQ) and EBITDA of INR 146bn, (+43% YoY; +11% QoQ), 3% below our estimates in Q4

HDFC Securities

Federal Bank - Guiding for 15% Credit Growth and ROA Improvement

Federal Bank’s earnings were lower than our estimate on account of margin compression, lower treasury profit and one-off impact from family pension...

Nirmal Bang

Axis Top Picks April 2022

Commodities and IT sectors are the biggest winners of FY22. In the last one year, the Metals sector has gone up 53%, Energy by 40%, commodities by...

Axis Direct

Federal Bank: Healthy Pick-Up in Advances; RoA Trajectory Positive

Federal Bank is an old private sector bank based out of Kerala with around 1274 branches and 1882 ATM across various states.

ICICI Securities Limited

Federal Bank: Levers for ROA Expansion in Place; Maintain BUY

Federal Bank (FB) Q3FY22 performance was marked by lower provisions, improved recoveries and upgrades, pick-up in NIM, healthy fee income, and loan...

Axis Direct

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