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>Rural India’s economic recovery post the COVID-19 pandemic has been a much debated topic over the past year, and rightfully so</li><li>Accounting for ~45% of the country’s GVA, the rural economic recovery bodes well for corporate revenues and the Indian economy as a whole</li><li>Our report is a bottom-up analysis of the Indian rural economy by looking at state-specific rural characteristics and performances</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>

Rural India’s economic recovery post the COVID-19 pandemic has been a much debated topic over the past year, and rightfully soAccounting for ~45% of the country’s GVA, the rural economic recovery bodes well for corporate revenues and the Indian economy as a wholeOur report is a bottom-up analysis of the Indian rural economy by looking at state-specific rural characteristics and performancesContent 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.

Rural India - State-Wise Divergences Evident in Recovery Phase

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.

Equity Bottom-Up

<ul><li>The bank’s advances grew 6.1% YoY to Rs 61,302 Cr.</li><li>Aided by steady growth in advances and NIM expansion by 62/6 bps YoY/QoQ to 3.87%, NII grew by 31/3% YoY/QoQ to Rs 860 Cr.</li><li>Non-interest income reported robust growth of 53.8/93.3% YoY/QoQ. </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>

The bank’s advances grew 6.1% YoY to Rs 61,302 Cr.Aided by steady growth in advances and NIM expansion by 62/6 bps YoY/QoQ to 3.87%, NII grew by 31/3% YoY/QoQ to Rs 860 Cr.Non-interest income reported robust growth of 53.8/93.3% YoY/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.

Karnataka Bank - Strong Quarter; ROA at 1.2% Looks Sustainable

<div><div><div><div><ul><li>We expect the banks under our coverage to mirror the strong systemic credit growth, thereby delivering a robust ~17% YoY credit growth in Q4FY23.</li><li>On a segmental basis at a systemic level, consumer durables/personal loans/credit card outstanding have shown a robust growth of 39/21/30% YoY respectively.</li><li>Banks that have so far reported their provisional numbers for the quarter have witnessed a pick-up deposit growth, led by TD growth outpacing CASA deposit growth. </li></ul></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>

We expect the banks under our coverage to mirror the strong systemic credit growth, thereby delivering a robust ~17% YoY credit growth in Q4FY23.On a segmental basis at a systemic level, consumer durables/personal loans/credit card outstanding have shown a robust growth of 39/21/30% YoY respectively.Banks that have so far reported their provisional numbers for the quarter have witnessed a pick-up deposit growth, led by TD growth outpacing CASA deposit growth. 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.

Bfsi Q4fy23 Result Preview – yet Another Strong Quarter!

<div><div><div><div><ul><li>Loan growth momentum to continue: Once the expected loan growth of 15% for FY23 is achieved, management would focus to grow the bank’s advances slightly higher than the industry growth, thereby maintaining robust credit growth momentum.</li><li>Uptick expected in the CASA ratio: With a focus on large corporates and the government agency business, the management expects to onboard employees' salary accounts, which would aid in increasing its CASA ratio moving forward.</li><li>Improving Asset Quality: The bank’s GNPA and NNPA improved meaningfully from the levels a couple of quarters back, and with the slippage ratio expected to moderate going forward, we believe the bank’s asset quality to continue improving going forward.</li></ul></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>

Loan growth momentum to continue: Once the expected loan growth of 15% for FY23 is achieved, management would focus to grow the bank’s advances slightly higher than the industry growth, thereby maintaining robust credit growth momentum.Uptick expected in the CASA ratio: With a focus on large corporates and the government agency business, the management expects to onboard employees' salary accounts, which would aid in increasing its CASA ratio moving forward.Improving Asset Quality: The bank’s GNPA and NNPA improved meaningfully from the levels a couple of quarters back, and with the slippage ratio expected to moderate going forward, we believe the bank’s asset quality to continue improving going forward.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.

Karnataka Bank - Steady Growth Momentum; Improved Asset Quality

<ul><li>The credit growth momentum has continued to remain robust as is visible from the near decadal high systemic growth of ~17% YoY, driven by the continued traction in the Retail and SME segments.</li><li>On a segmental basis, Home loans, Auto loans and Credit card outstanding continue to grow well.</li><li>Corporate loans are showing gradual recovery, albeit on a weaker base.</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>

The credit growth momentum has continued to remain robust as is visible from the near decadal high systemic growth of ~17% YoY, driven by the continued traction in the Retail and SME segments.On a segmental basis, Home loans, Auto loans and Credit card outstanding continue to grow well.Corporate loans are showing gradual recovery, albeit on a weaker base.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.

BFSI Q3FY23 Result Preview – Earnings Growth to Remain Strong!

India

Karnataka Bank Ltd is a full-service bank. The Bank accepts deposits, makes loans and provides other services for the public.

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Karnataka Bank (KBL IN)

Rural India - State-Wise Divergences Evident in Recovery Phase

Rural India’s economic recovery post the COVID-19 pandemic has been a much debated topic over the past year, and rightfully so

HDFC Securities

Karnataka Bank - Strong Quarter; ROA at 1.2% Looks Sustainable

The bank’s advances grew 6.1% YoY to Rs 61,302 Cr. Aided by steady growth in advances and NIM expansion by 62/6 bps YoY/QoQ to 3.87%, NII grew by...

Axis Direct

Bfsi Q4fy23 Result Preview – yet Another Strong Quarter!

We expect the banks under our coverage to mirror the strong systemic credit growth, thereby delivering a robust ~17% YoY credit growth in Q4FY23.

Axis Direct

Karnataka Bank - Steady Growth Momentum; Improved Asset Quality

Once the expected loan growth of 15% for FY23 is achieved, management would focus to grow the bank’s advances slightly higher than the industry growth

Axis Direct

BFSI Q3FY23 Result Preview – Earnings Growth to Remain Strong!

On a segmental basis, Home loans, Auto loans and Credit card outstanding continue to grow well. Corporate loans are showing gradual recovery,...

Axis Direct

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