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.

Equity Bottom-Up

<ul><li>L&amp;T Finance (LTF) hosted its Investor Digital Day to showcase its Tech, Data and Analytics capabilities enroute to building a robust profitable franchise</li><li>The underwriting engine is fully implemented for 2Ws, Farm Business and SME segments and is getting implemented for other products, while the EWS - portfolio monitoring system - is scaling gradually</li><li>On the back of a revamped digital architecture, LTF is moving from product to customer and risk diversification on the back of right customer selection and risk-based pricing</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.

L&amp;T Finance (LTF) hosted its Investor Digital Day to showcase its Tech, Data and Analytics capabilities enroute to building a robust profitable franchiseThe underwriting engine is fully implemented for 2Ws, Farm Business and SME segments and is getting implemented for other products, while the EWS - portfolio monitoring system - is scaling graduallyOn the back of a revamped digital architecture, LTF is moving from product to customer and risk diversification on the back of right customer selection and risk-based pricingContent 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.

L&T Finance: Building up on Early Wins. Maintain ADD

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

Aditya Birla Capital Ltd / Index Rebalance

<ul>
<li>There could be 19 constituent changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 30 December.</li>
<li>If all changes are on expected lines, one-way turnover is estimated at 64.2% and that will result in a round-trip trade of INR 163bn (US$1.8bn).</li>
<li>The adds have outperformed the deletes in the short-term. With the index based on momentum, there could be further gains over the next couple of weeks.</li>
</ul>


There could be 19 constituent changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 30 December.
If all changes are on expected lines, one-way turnover is estimated at 64.2% and that will result in a round-trip trade of INR 163bn (US$1.8bn).
The adds have outperformed the deletes in the short-term. With the index based on momentum, there could be further gains over the next couple of weeks.


NIFTY200 Momentum30 Index Rebalance Preview: 64% One-Way Turnover & US$1.8bn Trade

External broker reports(aggregated public sources), Emkay Global Financial Services Limited

Emkay

Emkay Global Financial Services Limited

Emkay Global Financial Services Ltd. is a leader in the financial services sector, actively creating wealth for our clients for over two decades. 

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>LTF delivered an in-line performance in Q3FY25, in terms of AUM growth, PAT, and credit cost.</li><li>However, ongoing stress in the MFI segment is expected to keep near-term asset growth below the targeted growth of 25%.</li><li>Slower disbursement in the MFI segment, focus on acquiring prime customer, and changing asset mix would keep margins under pressure, as evidenced in the ~50bps contraction in NIM + fees during Q3FY25. </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.

LTF delivered an in-line performance in Q3FY25, in terms of AUM growth, PAT, and credit cost.However, ongoing stress in the MFI segment is expected to keep near-term asset growth below the targeted growth of 25%.Slower disbursement in the MFI segment, focus on acquiring prime customer, and changing asset mix would keep margins under pressure, as evidenced in the ~50bps contraction in NIM + fees during Q3FY25. 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.

L&T Finance - Steering Through Challenging External Conditions

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.

<ul><li>L&amp;T Finance’s (LTF) 3QFY25 PAT declined 2% YoY to INR6.3b (~6% beat).</li><li>PPoP grew ~11% YoY to ~INR14.8b (in line).</li><li>Credit costs stood at INR6.5b (in line), translating into annualized credit costs of ~2.5% (PQ: 2.6% and PY: 2.5%).</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.

L&amp;T Finance’s (LTF) 3QFY25 PAT declined 2% YoY to INR6.3b (~6% beat).PPoP grew ~11% YoY to ~INR14.8b (in line).Credit costs stood at INR6.5b (in line), translating into annualized credit costs of ~2.5% (PQ: 2.6% and PY: 2.5%).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.

L&T Finance - Better MFI Asset Quality Outcomes than Peers

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Q2 revenue (INR 680 billion, +10% YoY) missed estimates on transient issues, but order inflows surged 45%, leading to a record INR 6.67 lakh crore (approx. US$80 billion) order book.</li>
<li>L&amp;T is successfully exiting its largest legacy drag (Hyderabad Metro) and capturing a dominant share of the Middle East hydrocarbon boom and the domestic private capex wave.</li>
<li>The strategic pivot to new-age manufacturing and green energy, funded by a booming core, is building a more resilient, higher-growth L&amp;T for the future.</li>
</ul>


Q2 revenue (INR 680 billion, +10% YoY) missed estimates on transient issues, but order inflows surged 45%, leading to a record INR 6.67 lakh crore (approx. US$80 billion) order book.
L&amp;T is successfully exiting its largest legacy drag (Hyderabad Metro) and capturing a dominant share of the Middle East hydrocarbon boom and the domestic private capex wave.
The strategic pivot to new-age manufacturing and green energy, funded by a booming core, is building a more resilient, higher-growth L&amp;T for the future.


L&T’s Q2FY26: Don’t Mind the Margins, Watch the ₹6.67 Lakh Crore Backlog.

India

L&T Finance Holdings Limited is a financial holding company. The Company offers a diverse range of financial products and services across the corporate, retail, and infrastructure finance sectors, as well as fund products and investment services.

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L&T Finance Holdings (LTFH IN)

L&T Finance: Building up on Early Wins. Maintain ADD

L&T Finance (LTF) hosted its Investor Digital Day to showcase its Tech, Data and Analytics capabilities enroute to building a robust profitable...

HDFC Securities

NIFTY200 Momentum30 Index Rebalance Preview: 64% One-Way Turnover & US$1.8bn Trade

We forecast 19 changes for the index in Dec. One-way turnover is estimated at 64.2% resulting in a round-trip trade of INR 163bn (US$1.8bn). The...

Brian Freitas

L&T Finance - Steering Through Challenging External Conditions

Factoring in the current challenges, along with growth and margin expectations, we cut FY25-27E EPS by 2-4%, and maintain REDUCE.

Emkay

L&T Finance - Better MFI Asset Quality Outcomes than Peers

L&T Finance’s (LTF) 3QFY25 PAT declined 2% YoY to INR6.3b (~6% beat). PPoP grew ~11% YoY to ~INR14.8b (in line). Credit costs stood at INR6.5b (in...

Motilal Oswal

L&T’s Q2FY26: Don’t Mind the Margins, Watch the ₹6.67 Lakh Crore Backlog.

L&T's Q2 revenue missed estimates but order inflows surged, leading to a record order book. Strategic pivot to new-age manufacturing and green...

Sudarshan Bhandari

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

L&T Finance: Building up on Early Wins. Maintain ADD

L&T Finance (LTF) hosted its Investor Digital Day to showcase its Tech, Data and Analytics capabilities enroute to building a robust profitable...

HDFC Securities

NIFTY200 Momentum30 Index Rebalance Preview: 64% One-Way Turnover & US$1.8bn Trade

We forecast 19 changes for the index in Dec. One-way turnover is estimated at 64.2% resulting in a round-trip trade of INR 163bn (US$1.8bn). The...

Brian Freitas

L&T Finance - Steering Through Challenging External Conditions

Factoring in the current challenges, along with growth and margin expectations, we cut FY25-27E EPS by 2-4%, and maintain REDUCE.

Emkay

L&T Finance - Better MFI Asset Quality Outcomes than Peers

L&T Finance’s (LTF) 3QFY25 PAT declined 2% YoY to INR6.3b (~6% beat). PPoP grew ~11% YoY to ~INR14.8b (in line). Credit costs stood at INR6.5b (in...

Motilal Oswal

L&T’s Q2FY26: Don’t Mind the Margins, Watch the ₹6.67 Lakh Crore Backlog.

​L&T's Q2 revenue missed estimates but order inflows surged, leading to a record order book. Strategic pivot to new-age manufacturing and green...

Sudarshan Bhandari

L&T's Q2 revenue missed estimates but order inflows surged, leading to a record order book. Strategic pivot to new-age manufacturing and green...