External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<p>We initiate coverage on Fino Payments Bank (Fino) with BUY rating and TP of Rs475. Fino is uniquely positioned to capture growing opportunities in rural India, led by deep-rural products like MATM (~51% market share as on Aug’21) &amp; AEPS, tailor-made CASA accounts for under served population, and payment app called “FinoPay” targeting rural population</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 initiate coverage on Fino Payments Bank (Fino) with BUY rating and TP of Rs475. Fino is uniquely positioned to capture growing opportunities in rural India, led by deep-rural products like MATM (~51% market share as on Aug’21) &amp; AEPS, tailor-made CASA accounts for under served population, and payment app called “FinoPay” targeting rural populationContent 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.

A unique business model; niche position in untapped rural India

India

Fino Payments Bank Ltd. is a scheduled commercial bank in India, operating as a digital-first platform with an asset-light business model. The company serves the emerging India segment through a vast network of merchant-led banking points, offering financial services such as savings and current accounts, domestic remittances, and cash management services. It also provides debit and prepaid cards, insurance products, and mobile banking via the FinoPay app. Headquartered in Navi Mumbai, India, the bank was founded in 2007 as Fino Paytech and commenced banking operations in 2017.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Fino Payments Bank (FINOPB IN)

A unique business model; niche position in untapped rural India

We initiate coverage on Fino Payments Bank (Fino) with BUY rating and TP of Rs475. Fino is uniquely positioned to capture growing opportunities in...

ICICI Securities Limited

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)