Brokerage Research Reports share price target

Similar to peers' overall collection efficiency has been at 97% in Oct'20 SBI reported a strong earnings of Rs45.7bn (PLe: 37bn) as it chose to make lower provisioning on lesser slippages of Rs28bn and adequate PCR of 70% & COVID provisions. NII growth of 15% YoY was very much in-line as margins saw slight bump-up of 11bps QoQ, while lower other income offset PPOP trajectory. Bank management is optimistic to end with a stress book of...

Background: AU SFB, initially incorporated as a vehicle finance company in 1996, was transformed into a Small Finance Bank in April 2017. The bank has presence in 12 states and 1 union territory, with 594 branches, 359 ATMs, 31 asset centers and ~6,59,904 loan accounts. The bank offers a comprehensive and tailor made range of products (both asset and liability) and services to cater to the needs of various businessmen (SME and MSME) and other middle and low...

FY21 revenue guidance was effectively upgraded across board and resumption in lateral hiring plus wage hikes gives us confidence. Tier-1 IT companies posted a strong rebound of 6.1% QoQ USD revenues (after decline of 6% QoQ in last quarter). Recovery was broad based led by BFSI, Retail, Life science & Healthcare. Despite subdued performance in manufacturing & communication, management guided strong outlook for these sectors. Highlight of the quarter was strong & sustainable margin performance across companies. We believe some of the margin tailwinds are...

In Q2FY21, loans book rose 2.1% YoY, driven by Consumer finance (+7.8% YoY) partially offset by Corporate banking (-4.7% YoY). Deposits base rose 10.2% YoY, as CASA improved by 7.0% YoY. Net interest margin (NIM) improved 6bps YoY to 4.16% (-12bps QoQ), led by decline in cost of deposits by 112bps YoY to 5.58%....

he economic recovery all across the world have happened rather swiftly than anticipated. In the recently released World Economic Outlook (WEO) by International Monetary Fund (IMF), the premier agency has highlighted that world economic output for 2020 won't shrink as severely as it had previously projected. IMF now expects world GDP growth at -4.4% as against -5.2% earlier estimated in June 2020....

Greenpanel Industries (GREENP) reported above-expected Q2FY21 revenue growth of 17% YoY (consolidated), aided by a 26% increase in the MDF segment.

Can Fin Homes Ltd is the housing finance arm of Canara bank. The company has dominance in South India with focus on Tier 1 and Tier 2 cities. It provides housing loans, composite loans, non-housing loans,...

conservatism in the nature of (a) incremental mere 3% AUM growth in H2FY21 with normalization coming through post festive demand, (b) 4.6% NPA and ~2% credit costs (c) modest margins at (5-6%). CIFC's continued focus on right product positioning and conservative strategy place the Co. on revival mode. Resultantly, FY22/23 RoE/RoA bounce back to 16%/2.3% levels respectively. Quality franchise with controlled credit risks at 2x PBV FY23E definitely warrants an upgrade, hence we now value CIFC at PBV of 2.5x...