External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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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>NIMs Well-managed; Improvement Visible Hereon: In Q2FY26, DCB reported a surprise 3 bps improvement in NIMs, driven by a sharp 16/17 bps QoQ improvement in CoD/CoF.</li><li>The management has indicated that NIMs have bottomed out and will continue to improve hereon, barring any further rate cuts. NIM expansion should be led by (a) a focus on the higher-yielding LAP segment versus mortgages, and (b) continued downward repricing of term deposits.</li><li>Some portion of DCB’s loan book transitions from fixed rate to floating rate, which could impact yields; however, the bank does not foresee any pressure on incremental yields. </li></ul><p><em>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.</em></p>

NIMs Well-managed; Improvement Visible Hereon: In Q2FY26, DCB reported a surprise 3 bps improvement in NIMs, driven by a sharp 16/17 bps QoQ improvement in CoD/CoF.The management has indicated that NIMs have bottomed out and will continue to improve hereon, barring any further rate cuts. NIM expansion should be led by (a) a focus on the higher-yielding LAP segment versus mortgages, and (b) continued downward repricing of term deposits.Some portion of DCB’s loan book transitions from fixed rate to floating rate, which could impact yields; however, the bank does not foresee any pressure on incremental yields. 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.

DCB Bank Ltd. - Strong Quarter, Balanced Growth & Compelling Valuations; Reiterate BUY!