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

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

Thematic (Sector/Industry)

<ul><li>Most corporate-sponsored NBFCs have struggled to deliver consistent value creation over the past decade, barring a few exceptions such as BAF and CIFC</li><li>This has been despite enjoying huge structural advantage (vs peers) like low cost of funds and liquidity backstop</li><li>In recent years, several corporates have either revived/restructured their NBFCs or acquired/set up new ones</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.

Most corporate-sponsored NBFCs have struggled to deliver consistent value creation over the past decade, barring a few exceptions such as BAF and CIFCThis has been despite enjoying huge structural advantage (vs peers) like low cost of funds and liquidity backstopIn recent years, several corporates have either revived/restructured their NBFCs or acquired/set up new onesContent 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.

Diversified NBFCs: Corporate sponsored NBFCs: call option at formation lap

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>L&amp;T Finance (LTF), during its Investor Digital Day 2024 (Link) (on 25 Nov’24), provided key insights into its project Cyclops – an AI-driven, multi-dimensional underwriting engine.</li><li>The MD &amp; CEO, as part of his opening address, highlighted LTF’s transition from being a wholesale lender to diversifying retail and digital initiatives, making it future ready with digital at the core.</li><li>Thereafter, LTF’s Chief Digital Officer and Chief AI &amp; Data Officer provided further insights into its futuristic digital architecture and how AI is driving growth.</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), during its Investor Digital Day 2024 (Link) (on 25 Nov’24), provided key insights into its project Cyclops – an AI-driven, multi-dimensional underwriting engine.The MD &amp; CEO, as part of his opening address, highlighted LTF’s transition from being a wholesale lender to diversifying retail and digital initiatives, making it future ready with digital at the core.Thereafter, LTF’s Chief Digital Officer and Chief AI &amp; Data Officer provided further insights into its futuristic digital architecture and how AI is driving 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.

L&T Finance - LTF’s AI-Driven Multi-Dimensional Underwriting Engine – to Hog the Limelight

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

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

Diversified NBFCs: Corporate sponsored NBFCs: call option at formation lap

Most corporate-sponsored NBFCs have struggled to deliver consistent value creation over the past decade, barring a few exceptions such as BAF and CIFC

HDFC Securities

L&T Finance - LTF’s AI-Driven Multi-Dimensional Underwriting Engine – to Hog the Limelight

L&T Finance (LTF), during its Investor Digital Day 2024 (Link) (on 25 Nov’24), provided key insights into its project Cyclops – an AI-driven, multi...

ICICI Securities Limited

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