New Research Reports

Stable margins and strong fees led to City Union Bank’s steady operating performance. Overall profitability was strong, with RoA coming at 1.53%. Ahead, we expect net slippages to be negative since most of the stress has been recognised. The focus now shifts to business growth.

We maintain our BUY rating on the stock.

We maintain our BUY recommendation on the stock

We maintain our BUY recommendation on the stock.

We upgrade our rating to BUY from HOLD earlier.

Go Fashion’s Q4 revenue was in line with ARe at 12.7% while EBITDA margin came in ~50bps higher at 30.5%. In FY25, it added 62 net (104 gross) EBOs.

GO’s Q4 EBITDA was 7-10% better than estimates, largely led by higher growth in the LFS channel and better gross-margin on higher credit note. Revenue grew ~13%, led by 24% growth in LFS while EBO grew 11% (SSG: 2.1%). EBO SSG was driven by gain in realizations (flat volume).

Fedbank Financial Services’ (Fedfina) Q4FY25 financial performance exhibited a return to business normalcy, as is evident in its RoA retracing to 2.2% vs. 0.6% QoQ, largely driven by credit cost normalising to 1% vs. 4% QoQ.

PAT rose ~3% YoY; asset quality improved, aided by the ARC transaction Indostar Capital Finance (IndoStar) reported a mixed quarter.

Public hearing and mine inspection for EC enhancement has already been completed and is awaiting a formal response from the MoEF. Environmental public hearing for the EC expansion which completed in Jan’25 received consent from representatives of ~30 villages and the management expects receipt of formal response by end of May'25.