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.

Thematic (Sector/Industry)

<ul><li>The RBI kept repo rates unchanged but more importantly pivoted its stance from “withdrawal of accommodation” to “neutral”, signalling an openness to rate cuts over the coming months</li><li>Although system-wide liquidity has organically improved since our most recent publication on the liquidity conundrum, deposit growth is likely to remain a function of growth in the broader money supply (M3) and inflation targets</li><li>More importantly, in line with its ‘satark’ motto, the RBI has categorically highlighted the unscrupulous practices of NBFC/HFCs to pursue growth and profitability at the cost of compliance and fair practices, with an unusually stern directive to such regulated entities to proactively mend their ways.</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.

The RBI kept repo rates unchanged but more importantly pivoted its stance from “withdrawal of accommodation” to “neutral”, signalling an openness to rate cuts over the coming monthsAlthough system-wide liquidity has organically improved since our most recent publication on the liquidity conundrum, deposit growth is likely to remain a function of growth in the broader money supply (M3) and inflation targetsMore importantly, in line with its ‘satark’ motto, the RBI has categorically highlighted the unscrupulous practices of NBFC/HFCs to pursue growth and profitability at the cost of compliance and fair practices, with an unusually stern directive to such regulated entities to proactively mend their ways.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.

Leveraged Financials: ‘Satark’ NBFCs, RBI Pivots to a Stern Warning

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and 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

<ul><li>IIFL Finance (IIFL)’s 3QFY25 PAT declined ~85% YoY to INR817m.</li><li>NII declined 22% YoY and ~8% QoQ to ~INR12.4b (~7% miss).</li><li>Other income stood at ~INR1.1b (PY: INR1.1b).</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.

IIFL Finance (IIFL)’s 3QFY25 PAT declined ~85% YoY to INR817m.NII declined 22% YoY and ~8% QoQ to ~INR12.4b (~7% miss).Other income stood at ~INR1.1b (PY: INR1.1b).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.

IIFL Finance - Earnings Miss; Asset Quality Weakness in Unsecured and Micro-LAP

<ul><li>IIFL Finance (IIFL) hosted a conference call on 5th Mar’24 to clarify the issues raised by the RBI regarding the company’s gold loan business (RBI press release), the corrective actions taken by the management, and the way forward for the company.</li><li>IIFL also shared the contribution of the gold loan business to its profitability, the fixed cost of gold loan branches and the sequence of events that culminated in this RBI ban.</li><li>It is difficult to predict how long it could take to work with the regulator and get this ban reviewed and revoked.</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.

IIFL Finance (IIFL) hosted a conference call on 5th Mar’24 to clarify the issues raised by the RBI regarding the company’s gold loan business (RBI press release), the corrective actions taken by the management, and the way forward for the company.IIFL also shared the contribution of the gold loan business to its profitability, the fixed cost of gold loan branches and the sequence of events that culminated in this RBI ban.It is difficult to predict how long it could take to work with the regulator and get this ban reviewed and revoked.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.

IIFL Finance - RBI Ban on Gold Lending to Dampen Growth and Profitability

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

ICICI Securities Limited

About the stock: IIFL Securities (IIFL Sec) is engaged in retail and institutional broking, distribution of financial products and investment banking.<ul><li>The company caters to an active retail client base of ~3.24 lakh</li><li>IIFL’s institutional broking segment has ~740 domestic and foreign clients</li></ul><div class="content-highlight">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.</div>

About the stock: IIFL Securities (IIFL Sec) is engaged in retail and institutional broking, distribution of financial products and investment banking.The company caters to an active retail client base of ~3.24 lakhIIFL’s institutional broking segment has ~740 domestic and foreign clientsContent 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.

IIFL Securities: Robust Client Acquisition; Healthy Business Growth

India

IIFL Finance Limited is an Indian diversified financial services company providing a comprehensive range of secured and unsecured lending products, including home loans, gold loans, business loans, and microfinance. The company serves retail, SME, and corporate clients across India. It was founded in 1995 and is headquartered in Mumbai, India.

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IIFL Finance (IIFL IN)

Leveraged Financials: ‘Satark’ NBFCs, RBI Pivots to a Stern Warning

We continue to reiterate our preference towards large banks (top pick: SBIN, ICICIBC) over NBFCs (Top pick: BAF) in the current environment.

HDFC Securities

IIFL Finance - Earnings Miss; Asset Quality Weakness in Unsecured and Micro-LAP

IIFL Finance (IIFL)’s 3QFY25 PAT declined ~85% YoY to INR817m. NII declined 22% YoY and ~8% QoQ to ~INR12.4b (~7% miss). Other income stood at...

Motilal Oswal

IIFL Finance - RBI Ban on Gold Lending to Dampen Growth and Profitability

IIFL Finance (IIFL) hosted a conference call on 5th Mar’24 to clarify the issues raised by the RBI regarding the company’s gold loan business (RBI...

Motilal Oswal

IIFL Securities: Robust Client Acquisition; Healthy Business Growth

IIFL Securities (IIFL Sec) is engaged in retail and institutional broking, distribution of financial products and investment banking.

ICICI Securities Limited

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