Significant improvement is seen on asset quality. Slippages have eased to 2.4% as against 3.9% last quarter. Similarly GNPA as well as provision coverage has improved sequentially. Loan growth is moderate at 11%, driven by retail and SME segment. NII growth of 15% is in line with our expectations; whereas PAT growth of 83% is 4% ahead of our estimates. We have cut our slippage estimate by 100bps to 3% for FY19. We have raised our ABV estimates by 3%/1% for FY19/FY20. Given the recent price correction, we upgrade our rating to ACCUMULATE marginally increasing our TP to Rs665 (Rs655...