Choice India Broker Research reports

Q3 FY17 Result Analysis: Net interest income (NII) grew by 34.5% YoY and 8.1% QoQ in Q3FY17 (33.4% YoY and 7.7% QoQ in Q2FY17) driven by the strong Holding Period 12 Months traction in the interest income which in turn is benefitted by the highest share of Upside Potential 9.6%...

HDFC Bank Ltd. (HDFCB), the country second largest private sector bank, posted stable number for the Q3FY17 in spite of unfavorable business environment during the quarter. Double digit YoY growth in advances, deposits and net profit indicates that the bank continued to witness strong growth in business as well as profitability. We are of the view that in spite of big size, outperformance to peers will continue in terms of financial and operating parameters. Thus, HDFCB is our...

Popular cum development budget on the cards: Keeping in mind the Make in India campaign and the loss of jobs in MSME due to cash crunch, we feel the government in its budget would increase spending in the agriculture and rural sector so as to boost revival of the rural economy. The government may also continue its emphasis on Mahatma Gandhi National Rural Employment Guarantee Scheme, which has been a dominant demand driver of goods in the rural areas. The Pradhan Mantri Gram Sadak Yojana, which is the rural road construction scheme and the Pradhan Mantri Awas Yojana (housing scheme), will also be a key focus area in the budget. All in all we believe that this budget will be a popular budget with an investment driven theme to rectify business sentiments and push the Make in India campaign to the next step, by lowering taxes, increasing government budget allocations to rural and agriculture sectors, thus boosting consumption, which will be the main driver of...

BSE Ltd. (BSE) own and operate the BSE exchange, the first stock exchange in Asia. At the end of Oct. 2016, the BSE was the world's largest exchange by number of listed companies, and India's largest and the world's 10th largest exchange by market capitalization (MCAP of companies listed on it). The issue is an offer for sale (Rs. 12,418.9 12,434.3mn). The...

State Bank of India (SBI), founded in 1806, is the oldest and largest commercial bank in India engaged in providing a range of banking and financial services. SBI has a total of 16,784 branches making it the country largest bank accounting for around 17-18% share in banking industry business. With the declining stressed level and improving balance sheet quality due to AQR, SBI is well poised to avail business opportunities that are likely to emerge with the improving Indian economic scenario and enhancing financial inclusion. We are of the view that SBI is likely to...

Srikalahasthi Pipes Ltd. (SPL) (formerly known as Lanco Industries Ltd.) is one of the leading producer of ductile iron (DI) pipes in India. Incorporated in 1991, the company is currently engaged into the manufacturing of DI pipes, pig iron,...