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.

Equity Bottom-Up

<ul><li>FY25 was the year of transition of the bank under the new management spearheaded by Mr KVS Manian.</li><li>The bank’s strategic focus shifted towards scaling Federal Bank (FB) to new heights, placing it amongst the top banks over the next 3-5 years as the bank identified key growth drivers to ensure sustainable, strong growth as a part of its ‘Project Breakthrough’.</li><li>Throughout the year, the bank continued to make progress on the strategy laid out, with green shoots visible as it exit FY25. </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.

FY25 was the year of transition of the bank under the new management spearheaded by Mr KVS Manian.The bank’s strategic focus shifted towards scaling Federal Bank (FB) to new heights, placing it amongst the top banks over the next 3-5 years as the bank identified key growth drivers to ensure sustainable, strong growth as a part of its ‘Project Breakthrough’.Throughout the year, the bank continued to make progress on the strategy laid out, with green shoots visible as it exit FY25. 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 Ltd. - Resilient Today, Readying for Tomorrow

<ul><li>Rate Cuts Largely Priced In; Lower NIM Compression in Q2: FB’s NIMs declined sharply by 18bps sharply owing to a 27bps drop in yields and a 4-5bps impact of interest reversals.</li><li>This was partially offset by a 20bps decline in CoD.</li><li>With the bulk of the repo rate cut impact reflecting in the yields (given pass-on is on a T+1 basis), the quantum of NIM compression in Q2 is expected to be significantly lower at 5-10bps. </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.

Rate Cuts Largely Priced In; Lower NIM Compression in Q2: FB’s NIMs declined sharply by 18bps sharply owing to a 27bps drop in yields and a 4-5bps impact of interest reversals.This was partially offset by a 20bps decline in CoD.With the bulk of the repo rate cut impact reflecting in the yields (given pass-on is on a T+1 basis), the quantum of NIM compression in Q2 is expected to be significantly lower at 5-10bps. 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 Ltd. - Navigating Near-Term Challenges; On Track to Deliver 1.4% RoA by FY28

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index (NIFTY INDEX)</a> and the <a href="https://www.smartkarma.com/entities/nse-nifty-bank-index" target="_blank" data-smartkarma-citation="entities:26811:1" rel="noopener">NSE Nifty Bank Index (NSEBANK INDEX EQUITY)</a> reached all-time highs on 26 September 2024 but have since declined.</li>
<li>Most stocks in the Bank Index have fallen below their 200 and 50 day moving average,. Volatilities have gone up, but trade cheap when compared to historical levels.</li>
<li>Opportunities present themselves either in stocks that stayed resilient during the downturn (<a href="https://www.smartkarma.com/entities/federal-bank-ltd" target="_blank" data-smartkarma-citation="entities:11784:1" rel="noopener">Federal Bank (FB IN)),</a>or fell and gained in implied volatility. A long-short strategy might also be considered.</li>
</ul>


The NIFTY Index (NIFTY INDEX) and the NSE Nifty Bank Index (NSEBANK INDEX EQUITY) reached all-time highs on 26 September 2024 but have since declined.
Most stocks in the Bank Index have fallen below their 200 and 50 day moving average,. Volatilities have gone up, but trade cheap when compared to historical levels.
Opportunities present themselves either in stocks that stayed resilient during the downturn (Federal Bank (FB IN)),or fell and gained in implied volatility. A long-short strategy might also be considered.


EQD | Nifty Banks – Single Stock Options and Relative Value Opportunities

<ul><li>Building a Granular Deposit Franchise with Increased Focus on CASA: The re-orientation of branch strategy towards CASA Deposits, particularly CA deposits, remains a key focus area for the bank.</li><li>The bank has taken several measures to improve the CA portfolio through product innovation and has seen strong traction in the past 3 months.</li><li>FB’s strength of the CA franchise in the core state of Kerala remains largely untapped and offers the potential to grow. </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.

Building a Granular Deposit Franchise with Increased Focus on CASA: The re-orientation of branch strategy towards CASA Deposits, particularly CA deposits, remains a key focus area for the bank.The bank has taken several measures to improve the CA portfolio through product innovation and has seen strong traction in the past 3 months.FB’s strength of the CA franchise in the core state of Kerala remains largely untapped and offers the potential to grow. 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: Federal Bank - 29th March, 2025

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>Federal Bank (FB) hosted an analyst meet to spotlight the bank’s key priorities over the medium term to better monetise its balance sheet strengths: a) better CASA mobilisation (especially CA balances) reflecting in lower cost of funds, b) scaling its medium-yield businesses driving stronger risk-adjusted returns, and c) higher fee income traction by building capabilities in areas of trade/FX income, wealth management, and CMS</li><li>Under the new MD, FB is embarking on a journey to address its deposit mix and the pricing power handicap on both sides of the balance sheet (highlighted in our Sep-24 update).</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.

Federal Bank (FB) hosted an analyst meet to spotlight the bank’s key priorities over the medium term to better monetise its balance sheet strengths: a) better CASA mobilisation (especially CA balances) reflecting in lower cost of funds, b) scaling its medium-yield businesses driving stronger risk-adjusted returns, and c) higher fee income traction by building capabilities in areas of trade/FX income, wealth management, and CMSUnder the new MD, FB is embarking on a journey to address its deposit mix and the pricing power handicap on both sides of the balance sheet (highlighted in our Sep-24 update).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: Focused on Fixing the Right Gaps, Execution Remains Key. Maintain BUY

India

Federal Bank Limited operates branches and regional offices throughout India. The Bank offers a wide range of financial services, including merchant banking, international banking and foreign exchange, leasing facilities, money markets and agricultural advances. The Bank also provides lending for hi-tech agricultural and government sponsored schemes.

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Federal Bank (FB IN)

Federal Bank Ltd. - Resilient Today, Readying for Tomorrow

FY25 was the year of transition of the bank under the new management spearheaded by Mr KVS Manian. The bank’s strategic focus shifted towards...

Axis Direct

Federal Bank Ltd. - Navigating Near-Term Challenges; On Track to Deliver 1.4% RoA by FY28

Rate Cuts Largely Priced In; Lower NIM Compression in Q2: FB’s NIMs declined sharply by 18bps sharply owing to a 27bps drop in yields and a 4-5bps...

Axis Direct

EQD | Nifty Banks – Single Stock Options and Relative Value Opportunities

The NSE Nifty Bank Index hit a record high in September 2024 but has since dropped. Option opportunities are found in resilient or volatile bank...

Gaudenz Schneider

Pick of the Week: Federal Bank - 29th March, 2025

Building a Granular Deposit Franchise with Increased Focus on CASA: The re-orientation of branch strategy towards CASA Deposits, particularly CA...

Axis Direct

Federal Bank: Focused on Fixing the Right Gaps, Execution Remains Key. Maintain BUY

Federal Bank (FB) hosted an analyst meet to spotlight the bank’s key priorities over the medium term to better monetise its balance sheet strengths

HDFC Securities

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