Daily Brief India: Bandhan Bank Ltd, On Semiconductor, Road King Infrastructure, Sonos Inc and more

• Over the last 6M, Bandhan Bank Ltd (BANDHAN IN) has underperformed the Nifty 50 by ~7.3% (BANDHAN -5.92% vs Nifty +1.39%)
• Our flash checks across West Bengal and Assam indicate a stable to improving business environment. 
• We reiterate our view of that the asset quality downcycle could be on the verge of ending. Additional provisioning requirements should be sharply lower from Q3 FY23.

• This is our first report on ON Semiconductor Corporation, a well-known provider of intelligent sensing and power solutions.
• The management has streamlined their product line by eliminating price-sensitive products in favour of fiercely competitive Intelligent Power and Sensing Solutions.
• Because of the solutions’ strong performance, the depth of their intelligent power and sensor portfolio, and end-to-end manufacturing capabilities, their clients select ON Semiconductors as a strategic partner to support their long-term technology roadmaps.

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

1. China Jinmao Holdings
2. Guangzhou R&F Properties
3. Sunac China Holdings
4. Evergrande
5. Central China Real Estate

and more…

• This is our first report on Sonos, the multi-room audio products major.
• The macroeconomic environment has grown significantly more hostile for Sonos off late after it enjoyed a decent phase during the pandemic.
• Despite the uncertain environment, Sonos has a strong brand identity, a dependable and devoted premium client, and a sizable and expanding market opportunity.