Brokerage Research Reports share price target

MM hikes tractor prices by ~2.5%. Supply shortage in MM leads to lower dealer inventory of ~12-15 days while demand remains positive. Our interaction with leading channel partners and experts indicate robust recovery in rural and Tier2/Tier-3 belt. 2W/PV segment witnessed i) higher inquires for entry level segments (~30-35% recovery in inquiries across the segments) led by pent up demand and increased preference for personal mobility and, ii) lower cancellation rates for pre-lockdown bookings (~5-10%). Escalation of lockdown has certainly impacted urban demand which...

MM hikes tractor prices by ~2.5%. Supply shortage in MM leads to lower dealer inventory of ~12-15 days while demand remains positive. Our interaction with leading channel partners and experts indicate robust recovery in rural and Tier2/Tier-3 belt. 2W/PV segment witnessed i) higher inquires for entry level segments (~30-35% recovery in inquiries across the segments) led by pent up demand and increased preference for personal mobility and, ii) lower cancellation rates for pre-lockdown bookings (~5-10%). Escalation of lockdown has certainly impacted urban demand which...

Demand for used CVs declined, as price difference between new and used CVs has reduced to only Rs1lac. We hosted an investor call with Mr. Chirag Katira, Project Head- All India Motor Transport Congress (AIMTC) and CEO & Director, Shree Nasik Goods Transport Co. to gain insights on impact of COVID-19 on CV fleet operators and likely challenges going forward. Their challenges include i) being paid last in the whole cycle, ii) Delayed payment from MNCs by 90-120 days and further interruption from SMEs....

Demand for used CVs declined, as price difference between new and used CVs has reduced to only Rs1lac. We hosted an investor call with Mr. Chirag Katira, Project Head- All India Motor Transport Congress (AIMTC) and CEO & Director, Shree Nasik Goods Transport Co. to gain insights on impact of COVID-19 on CV fleet operators and likely challenges going forward. Their challenges include i) being paid last in the whole cycle, ii) Delayed payment from MNCs by 90-120 days and further interruption from SMEs....

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 11 states and 1 union territory, with 528 branches, 356 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...

Q4FY20 Interest income grew 7.4% YoY to Rs. 2,637cr, primarily aided by 6.1% YoY growth in loans and advances. Resultantly, NII rose 2.8% YoY to Rs. 1,347cr, partly offset by higher interest expenses (+12.7% YoY). PAT fell 62.4% YoY, mainly impacted by higher provisioning. 534 branches in green and amber zones resumed operations in May post-lockdown since March. Given upside potential, we reiterate our BUY rating on the stock with a target price of Rs. 190 based on SOTP....

Post Covid 19 Economic Stimulus Package Tranche V

Post Covid 19 Economic Stimulus Package Tranche IV