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>Outlook: Margins have remained stable sequentially at 5.22%.</li><li>With challenges in deposit accretion higher cost of funds may impact margin in the near term, however, we expect margins at ~5.2% for FY24E.</li><li>Also, the management’s focus on high-yielding loans would provide some support to margins. </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.

Outlook: Margins have remained stable sequentially at 5.22%.With challenges in deposit accretion higher cost of funds may impact margin in the near term, however, we expect margins at ~5.2% for FY24E.Also, the management’s focus on high-yielding loans would provide some support to margins. 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.

Kotak Mahindra Bank Ltd - Strong Growth Supported by Stability in Margins

<ul><li>Advances grew robust at ~21.4%/5.9% YoY/QoQ, largely driven by Credit cards (+59.4% YoY), Personal loans (+35.3% YoY) and Corporate (+24.9% YoY).</li><li>The share of unsecured retail loans in the overall portfolio mix increased to 11% vs. 8.7%/10.7% YoY/QoQ.</li><li>Deposit growth improved to 23.3%/3.8% YoY/QoQ, led by TDs which grew by 45.5%/5.3% YoY/QoQ. </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.

Advances grew robust at ~21.4%/5.9% YoY/QoQ, largely driven by Credit cards (+59.4% YoY), Personal loans (+35.3% YoY) and Corporate (+24.9% YoY).The share of unsecured retail loans in the overall portfolio mix increased to 11% vs. 8.7%/10.7% YoY/QoQ.Deposit growth improved to 23.3%/3.8% YoY/QoQ, led by TDs which grew by 45.5%/5.3% 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.

Kotak Mahindra Bank Ltd. - Appointment of New CEO Addresses Leadership Concerns

<ul><li>Advances growth was in-line with expectations at ~20%/4% YoY/QoQ.</li><li>The share of unsecured retail loans in the overall portfolio mix increased to 10.7% vs 7.9%/10% YoY/QoQ.</li><li>PL/Credit Cards/Retail MFI grew by 44%/67%/91% YoY.</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.

Advances growth was in-line with expectations at ~20%/4% YoY/QoQ.The share of unsecured retail loans in the overall portfolio mix increased to 10.7% vs 7.9%/10% YoY/QoQ.PL/Credit Cards/Retail MFI grew by 44%/67%/91% YoY.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.

Kotak Mahindra Bank Ltd - Healthy Quarter; Business Momentum to Sustain!

<ul><li>Operating leverage is expected to kick in in the coming fiscal which will be the key lever for the bank’s ROA/ROE growth.</li><li>Loan growth momentum is expected to continue primarily driven by growth in the retail portfolio.</li><li>With a reduced restructured book and improving GNPA (decreased by 18bps QoQ) and NNPA (decreased by 12bps QoQ) ratios, we expect the same to remain stable going forward.</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.

Operating leverage is expected to kick in in the coming fiscal which will be the key lever for the bank’s ROA/ROE growth.Loan growth momentum is expected to continue primarily driven by growth in the retail portfolio.With a reduced restructured book and improving GNPA (decreased by 18bps QoQ) and NNPA (decreased by 12bps QoQ) ratios, we expect the same to remain stable 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.

Kotak Mahindra Bank Ltd. - Growth Momentum Continues

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

ICICI Securities Limited

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.

<ul><li>Kotak Mahindra Bank (KMB) is a powerful banking franchise, with promoter stake at ~26% and strong promoter led management.</li><li>It has a presence across the financial services value chain.</li><li>CASA forms ~56% of total deposits aiding lower costs </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.

Kotak Mahindra Bank (KMB) is a powerful banking franchise, with promoter stake at ~26% and strong promoter led management.It has a presence across the financial services value chain.CASA forms ~56% of total deposits aiding lower costs 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.

Kotak Mahindra Bank (KMB) - Healthy Growth Across Businesses…

India

Kotak Mahindra Bank is an Indian banking and financial services company that offers a comprehensive range of banking products and financial services to corporate and retail customers. These services include personal finance, investment banking, life insurance, wealth management, consumer banking, commercial banking, and treasury operations. The company provides deposit accounts, various loans, credit and debit cards, mutual funds, and insurance plans. Headquartered in Mumbai, India, the company was founded in 1985 as Kotak Mahindra Finance Limited and received its banking license in 2003.

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Kotak Mahindra Bank (KMB IN)

Kotak Mahindra Bank Ltd - Strong Growth Supported by Stability in Margins

With challenges in deposit accretion higher cost of funds may impact margin in the near term, however, we expect margins at ~5.2% for FY24E.

Axis Direct

Kotak Mahindra Bank Ltd. - Appointment of New CEO Addresses Leadership Concerns

Advances grew robust at ~21.4%/5.9% YoY/QoQ, largely driven by Credit cards (+59.4% YoY), Personal loans (+35.3% YoY) and Corporate (+24.9% YoY).

Axis Direct

Kotak Mahindra Bank Ltd - Healthy Quarter; Business Momentum to Sustain!

Advances growth was in-line with expectations at ~20%/4% YoY/QoQ. The share of unsecured retail loans in the overall portfolio mix increased to...

Axis Direct

Kotak Mahindra Bank Ltd. - Growth Momentum Continues

Operating leverage is expected to kick in in the coming fiscal which will be the key lever for the bank’s ROA/ROE growth.

Axis Direct

Kotak Mahindra Bank (KMB) - Healthy Growth Across Businesses…

Kotak Mahindra Bank (KMB) is a powerful banking franchise, with promoter stake at ~26% and strong promoter led management.

ICICI Securities Limited

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