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)

Q4FY22 Earnings | HDFC Bank: All Is Well!

Return of the Genteel Low Profile Bankers

When Bank ESOPs Go Under Water, Expect Senior Management to Be Distracted or Departing

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>HDFC Bank’s (HDFCB) Q4FY22 earnings performance stood below our and consensus estimates with NII growth disappointing despite a healthy loan growth.</li><li>Loan growth was robust at 21/9% YoY/QoQ supported by healthy growth in the Commercial &amp; Rural Banking (+31% YoY) and Corporate Book (+17% YoY)</li><li>We maintain our BUY recommendation on the stock with a revised target price of Rs 1,960/share derived using the SOTP method (core bank at 3.4xFY24E ABV + Subsidiaries value Rs 75/-), implying an upside of 34% from the CMP</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>

HDFC Bank’s (HDFCB) Q4FY22 earnings performance stood below our and consensus estimates with NII growth disappointing despite a healthy loan growth.Loan growth was robust at 21/9% YoY/QoQ supported by healthy growth in the Commercial &amp; Rural Banking (+31% YoY) and Corporate Book (+17% YoY)We maintain our BUY recommendation on the stock with a revised target price of Rs 1,960/share derived using the SOTP method (core bank at 3.4xFY24E ABV + Subsidiaries value Rs 75/-), implying an upside of 34% from the CMPContent 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.

HDFC Bank: Strong ROA Despite NIM Compression!