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>IndusInd Bank: IndusInd Bank (IIB) reported stable earnings, led by strong loan growth (+20% YoY), stable NIMs and sustained traction in fee income</li><li>Deposit growth (+13% YoY) clocked in on the back of a higher share of retail deposits (LCR at 123%, Q2FY24: 118%)</li><li>However, CASA fell 85bps QoQ to 38.5%, showcasing system-wide pressure on low-cost deposits</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.

IndusInd Bank: IndusInd Bank (IIB) reported stable earnings, led by strong loan growth (+20% YoY), stable NIMs and sustained traction in fee incomeDeposit growth (+13% YoY) clocked in on the back of a higher share of retail deposits (LCR at 123%, Q2FY24: 118%)However, CASA fell 85bps QoQ to 38.5%, showcasing system-wide pressure on low-cost depositsContent 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: IndusInd Bank, ICICI Prudential Life

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>Z Score: The spread is currently negative between TCS and INFY, signaling a long signal on the spread, which means we believe it would retrace up towards the mean, which is the Z Score of 0</li><li>Lot Size: To ensure rupee neutral strategy, we suggest going long on TCS with 1 lot(s) and going short on INFY with 1 lot(s)</li><li>Returns Expectations: In the last 10 trades over the last 200 days, we have achieved 60% hit ratio over an average trade duration of 6.5 days. </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.

Z Score: The spread is currently negative between TCS and INFY, signaling a long signal on the spread, which means we believe it would retrace up towards the mean, which is the Z Score of 0Lot Size: To ensure rupee neutral strategy, we suggest going long on TCS with 1 lot(s) and going short on INFY with 1 lot(s)Returns Expectations: In the last 10 trades over the last 200 days, we have achieved 60% hit ratio over an average trade duration of 6.5 days. 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.

<ul><li>Wipro: Wipro’s (WPRO) revenue regressed with the third successive quarter of sequential decline</li><li>Factors driving the underperformance of WPRO continued such as (1) higher consulting/discretionary mix in portfolio (including Capco), (2) broad-based impact across verticals (two-thirds of the business posted sequential decline), and (3) disconnect between bookings and revenue growth (USD 3.5bn large deal wins yet annual revenue run-rate lower by USD 0.8bn in three quarters)</li><li>This was exacerbated by a weak guide for Q3 (-3.5% to -1.5% QoQ CC) due to the higher-than-usual impact of furloughs</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.

Wipro: Wipro’s (WPRO) revenue regressed with the third successive quarter of sequential declineFactors driving the underperformance of WPRO continued such as (1) higher consulting/discretionary mix in portfolio (including Capco), (2) broad-based impact across verticals (two-thirds of the business posted sequential decline), and (3) disconnect between bookings and revenue growth (USD 3.5bn large deal wins yet annual revenue run-rate lower by USD 0.8bn in three quarters)This was exacerbated by a weak guide for Q3 (-3.5% to -1.5% QoQ CC) due to the higher-than-usual impact of furloughsContent 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: Wipro, LTIMindtree, Bajaj Auto, IndusInd Bank, Bandhan Bank, Can Fin Homes

<ul><li>IndusInd Bank: IndusInd Bank (IIB) reported its highest-ever quarterly earnings, in line with estimates, predominantly led by strong loan growth (+21% YoY), stable margins and sustained traction in fee income</li><li>However, elevated gross slippages at 2%, primarily from MFI and the CV book in addition to higher credit costs (144bps), suggest that IIB continues to operate at the higher end of the risk spectrum, especially given its historically sub-par/non-granular deposit profile</li><li>Over its next three-year planning cycle, IIB is focusing on achieving deposit granularity through its branch expansion strategy</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.

IndusInd Bank: IndusInd Bank (IIB) reported its highest-ever quarterly earnings, in line with estimates, predominantly led by strong loan growth (+21% YoY), stable margins and sustained traction in fee incomeHowever, elevated gross slippages at 2%, primarily from MFI and the CV book in addition to higher credit costs (144bps), suggest that IIB continues to operate at the higher end of the risk spectrum, especially given its historically sub-par/non-granular deposit profileOver its next three-year planning cycle, IIB is focusing on achieving deposit granularity through its branch expansion strategyContent 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 - IndusInd Bank, ICICI Prudential Life, L&T Technology Services

<ul><li>Q4FY23 earnings season saw an overall in-line performance, with wide divergences across sectors and companies</li><li>Aggregate revenue/PAT grew by 13%/9% YoY across the HSIE coverage (~215 stocks), their two-year CAGR being 19%/15%</li><li>Our coverage universe saw strong YoY revenue growth in auto, lending financials, industrials, IT, cement and power sectors</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.

Q4FY23 earnings season saw an overall in-line performance, with wide divergences across sectors and companiesAggregate revenue/PAT grew by 13%/9% YoY across the HSIE coverage (~215 stocks), their two-year CAGR being 19%/15%Our coverage universe saw strong YoY revenue growth in auto, lending financials, industrials, IT, cement and power sectorsContent 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 Equity Strategy - Banks Continue to Lead the Pack; Profitability Improves for Most Sectors

India

IndusInd Bank Limited is a Mumbai-based Indian new generation bank established in 1994. The Bank provides a range of banking and financial services including  wholesale banking, credit monitoring, risk management, tele-banking, investment banking and commercial lending. IndusInd Bank operates branches throughout India as well as an office in Dubai and London.

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Indusind Bank (IIB IN)

HSIE Results Daily: IndusInd Bank, ICICI Prudential Life

IndusInd Bank: IndusInd Bank (IIB) reported stable earnings, led by strong loan growth (+20% YoY), stable NIMs and sustained traction in fee income

HDFC Securities

Parallel Trades -16 January 2024

he spread is currently negative between TCS and INFY, signaling a long signal on the spread, which means we believe it would retrace up towards the...

Axis Direct

HSIE Results Daily: Wipro, LTIMindtree, Bajaj Auto, IndusInd Bank, Bandhan Bank, Can Fin Homes

Factors driving the underperformance of WPRO continued such as (1) higher consulting/discretionary mix in portfolio (including Capco)

HDFC Securities

HSIE Results Daily - IndusInd Bank, ICICI Prudential Life, L&T Technology Services

IndusInd Bank (IIB) reported its highest-ever quarterly earnings, in line with estimates, predominantly led by strong loan growth (+21% YoY),...

HDFC Securities

India Equity Strategy - Banks Continue to Lead the Pack; Profitability Improves for Most Sectors

Q4FY23 earnings season saw an overall in-line performance, with wide divergences across sectors and companies. Aggregate revenue/PAT grew by 13%/9%...

HDFC Securities

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