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. 

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Thematic (Sector/Industry)

<ul><li>Robust Systemic Credit Growth Driven by Retail, SME: The systemic credit growth (as of 15th Dec, 23) stood at ~20% YoY (~15.7% YoY ex-HDFC).</li><li>It continues to remain healthy and is largely being driven by Retail and SME lending along with continued recovery in corporate lending.</li><li>The banks that have reported their provisional numbers so far have reported healthy credit 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.

Robust Systemic Credit Growth Driven by Retail, SME: The systemic credit growth (as of 15th Dec, 23) stood at ~20% YoY (~15.7% YoY ex-HDFC).It continues to remain healthy and is largely being driven by Retail and SME lending along with continued recovery in corporate lending.The banks that have reported their provisional numbers so far have reported healthy credit 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.

<ul><li>As we conclude the final page of 2023, we extend our heartfelt wishes for a 'Happy New Year' to all our valued patrons.</li><li>With great enthusiasm, we welcome 2024, anticipating a year filled with prosperity, peace, and happiness for you and your family.</li><li>At this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment endeavours further.</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.

As we conclude the final page of 2023, we extend our heartfelt wishes for a 'Happy New Year' to all our valued patrons.With great enthusiasm, we welcome 2024, anticipating a year filled with prosperity, peace, and happiness for you and your family.At this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment endeavours further.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>As we conclude the final page of 2023, we extend our heartfelt wishes for a 'Happy New Year' to all our valued patrons.</li><li>With great enthusiasm, we welcome 2024, anticipating a year filled with prosperity, peace, and happiness for you and your family.</li><li>At this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment endeavours further</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.

As we conclude the final page of 2023, we extend our heartfelt wishes for a 'Happy New Year' to all our valued patrons.With great enthusiasm, we welcome 2024, anticipating a year filled with prosperity, peace, and happiness for you and your family.At this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment endeavours furtherContent 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.

Equity Bottom-Up

<ul><li>Gold Loan Business – FY24 is expected to play out better for the gold loan business.</li><li>As the RBI revised its GDP growth estimates upwards from 6.5% to 7% for FY24, it will lead to higher disposable income, thereby resulting in an increase in discretionary spending.</li><li>Further, geopolitics, lower interest rates, and continued buying by central banks would act as tailwinds for the gold loan sector. </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.

Gold Loan Business – FY24 is expected to play out better for the gold loan business.As the RBI revised its GDP growth estimates upwards from 6.5% to 7% for FY24, it will lead to higher disposable income, thereby resulting in an increase in discretionary spending.Further, geopolitics, lower interest rates, and continued buying by central banks would act as tailwinds for the gold loan sector. 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.

Manappuram Finance Ltd. - AUM Growth Momentum to Remain Robust; Maintain BUY!

<ul><li>The company reported robust growth in AUM growth of 27/5% YoY/QoQ, mainly driven by healthy growth in MFI (Up 42% YoY, 9% QoQ), vehicles (Up 67/12% YoY/QoQ) and housing (Up 42/9% YoY/QoQ).</li><li>Moreover, gold loan growth revived, up 8/5%YoY/QoQ.</li><li>Despite a spike in the cost of funds by 20bps QoQ on the standalone book, net yields reported an uptick of 50bps QoQ to 21.9%. </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.

The company reported robust growth in AUM growth of 27/5% YoY/QoQ, mainly driven by healthy growth in MFI (Up 42% YoY, 9% QoQ), vehicles (Up 67/12% YoY/QoQ) and housing (Up 42/9% YoY/QoQ).Moreover, gold loan growth revived, up 8/5%YoY/QoQ.Despite a spike in the cost of funds by 20bps QoQ on the standalone book, net yields reported an uptick of 50bps QoQ to 21.9%. 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.

Manappuram Finance - Steady Momentum in AUM Growth with Stable Margins; Maintain Buy

India

Manappuram Finance Ltd. is a non-banking finance company. The Company offers loans against gold collateral, business loans, vehicle loans, foreign exchange and money transfer services; and sells gold coins.

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Manappuram Finance (MGFL IN)

BFSI Q3FY24 - Earnings Preview

Robust Systemic Credit Growth Driven by Retail, SME: The systemic credit growth (as of 15th Dec, 23) stood at ~20% YoY (~15.7% YoY ex-HDFC).

Axis Direct

Axis New Year Picks 2024

t this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment...

Axis Direct

Axis New Year Picks 2024

At this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment...

Axis Direct

Manappuram Finance Ltd. - AUM Growth Momentum to Remain Robust; Maintain BUY!

As the RBI revised its GDP growth estimates upwards from 6.5% to 7% for FY24, it will lead to higher disposable income, thereby resulting in an...

Axis Direct

Manappuram Finance - Steady Momentum in AUM Growth with Stable Margins; Maintain Buy

The company reported robust growth in AUM growth of 27/5% YoY/QoQ, mainly driven by healthy growth in MFI (Up 42% YoY, 9% QoQ), vehicles (Up 67/12%...

Axis Direct

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