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Buy Home First Finance Company Ltd For Target Rs.1,100 - kotak institutional equities Getting stronger Home First started the year with yet another strong quarter, with 33% loan growth and 34% core PBT growth. The transmission of rate hikes led to sequentially stable margins. Early delinquencies increased in line with seasonal trends, and we expect catch-up over time. We raise estimates and retain BUY with a Fair Value of Rs1,100 (Rs1,000 earlier). Solid earnings print Home First’s performance remains strong, with outperformance on the growth and margin fronts. ...
Buy Home First Finance Company Ltd For Target Rs.1,100 - kotak institutional equities
Buy Home First Finance Company Ltd For Target Rs.1,100 - kotak institutional equities
Source: kotak institutional equities
3/08/2023 5:05:00 PM
India`s Axis Bank has enough capital to absorb Q4 loss -S&P Indian private lender Axis Bank Ltd has adequate capital to absorb the loss it posted for the fourth quarter which was mainly due to an asset write-down related to a deal to buy some Citigroup assets, S&P Global Ratings said on Friday. The bank closed a $1.4 billion deal to buy Citigroup Inc's local consumer and non-banking finance businesses in March, after which it wrote off goodwill and intangibles generated on the acquisition. That pushed Axis to a standalone loss of 57.28 b...
India`s Axis Bank has enough capital to absorb Q4 loss -S&P
India`s Axis Bank has enough capital to absorb Q4 loss -S&P
Source: Reuters
28/04/2023 1:43:25 PM
INSTANT VIEW India's November retail inflation eases to 5.88% y/y  India's annual retail inflation eased to 5.88% in November from 6.77% in the previous month, helped by a slower rise in food prices, government data showed on Monday. The Dec. 5-8 Reuters poll of 45 economists had predicted the second consecutive decline in inflation to an annual 6.40% from 6.77% in October. COMMENTARY SUJAN HAJRA, CHIEF ECONOMIST, ANAND RATHI, MUMBAI "Retail inflation and industrial production data released today came substantially below our and co...
INSTANT VIEW India's November retail inflation eases to 5.88% y/y
INSTANT VIEW India's November retail inflation eases to 5.88% y/y
Source: Reuters
12/12/2022 6:24:47 PM
Instant View: India`s second-quarter GDP growth slows to 6.3% on higher prices India posted an economic growth of 6.3% in its July-September quarter, far slower than the 13.5% growth reported in the previous three months as distortions caused by COVID-19 lockdowns faded in Asia's third-largest economy. Government capital spending increased more than 40% during the quarter as the federal government stepped up expenditure on infrastructure from roads to railways, according to official data on Wednesday. The growth rate was above the 6.2% forecast by economists i...
Instant View: India`s second-quarter GDP growth slows to 6.3% on higher prices
Instant View: India`s second-quarter GDP growth slows to 6.3% on higher prices
Source: Reuters
1/12/2022 9:27:08 AM
India's Sept retail inflation accelerates to five-month high of 7.41% y-o-y BENGALURU India's retail inflation accelerated in September to a five-month high of 7.41% year-on-year, driven by surging food prices, raising fears of further rate hikes when the central bank meets for its next policy review in December. Annual retail inflation in September was higher than the 7.3% forecast in a Reuters poll of economists, and above 7% the previous month, data released by the National Statistics Office on Wednesday showed. The latest data shows retail inflation rem...
India's Sept retail inflation accelerates to five-month high of 7.41% y-o-y
India's Sept retail inflation accelerates to five-month high of 7.41% y-o-y
Source: Reuters
12/10/2022 8:13:43 PM
'We pencil in FY2023E GFD/GDP at 6.6%': Kotak report The GFD or GDP for the current financial year is expected to be within 6.4-6.8 per cent, given the uncertainty on the evolution of export duty or windfall tax as well as expenditure rationalisation, according to the Kotak Institutional Equities report. "For now, we pencil in FY2023E GFD/GDP at 6.6 per cent taking into account the recent changes in duty of petroleum product exports and crude oil production," the report said. Centre's fiscal deficit in financial year till da...
'We pencil in FY2023E GFD/GDP at 6.6%': Kotak report
'We pencil in FY2023E GFD/GDP at 6.6%': Kotak report
Source: IANS
2/09/2022 4:36:59 PM
We expect full-year residential sales for FY23 to surpass 700 mn sq.ft, on conservative basis: Kotak report The full year residential sales for the current financial year is likely to surpass 700 mn sq. ft on a conservative basis after the first quarter showed sales rise, according to the Kotak Institutional Equities report. All-India residential real estate sales across major cities in India increased 86 per cent on-year to 186 mn sq. ft in the first quarter of current financial year, as compared fo 101 mn sq. ft sale in same period last year that was impacted by the second wave of COVID-19, wi...
We expect full-year residential sales for FY23 to surpass 700 mn sq.ft, on conservative basis: Kotak report
We expect full-year residential sales for FY23 to surpass 700 mn sq.ft, on conservative basis: Kotak report
Source: IANS
2/09/2022 3:03:40 PM
Value of promoter holding in BSE-500 stocks decline to 1.5% in June quarter: Kotak report The value of promoter pledge holding as a percentage of promoter holding declined to 1.5 per cent in the April-June quarter from 1.7 per cent in the previous quarter, according to the Kotak Institutional Equities report. Promoters of 81 companies in the BSE-500 Index have pledged part of their holdings in the June 2022 quarter. Only three companies had more than 80 per cent of their promoter holdings pledged. These companies are Thyrocare Technologies, Max Financial Services and Suzlon ...
Value of promoter holding in BSE-500 stocks decline to 1.5% in June quarter: Kotak report
Value of promoter holding in BSE-500 stocks decline to 1.5% in June quarter: Kotak report
Source: IANS
21/08/2022 9:32:23 AM
Comment on RBI hikes repo rate By Suvodeep Rakshit, Kotak Institutional Equities Below is Comment on RBI hikes repo rate By Suvodeep Rakshit, Senior Economist, Kotak Institutional Equities, Kotak Institutional Equities “The combination of 40 bps hike in repo rate and 50 bps hike in CRR is an attempt by the RBI to preempt the rising inflationary pressures and be ahead of the curve. The bigger surprise was the CRR hike which indicates the RBI’s intent on withdrawing liquidity at a sharper pace. While inflation is unlikely to decline in the...
Comment on RBI hikes repo rate By Suvodeep Rakshit, Kotak Institutional Equities
Comment on RBI hikes repo rate By Suvodeep Rakshit, Kotak Institutional Equities
Source: PR Agency
4/05/2022 3:53:22 PM
View on RBI’s Monetary Policy By Suvodeep Rakshit, Kotak Institutional Equitie Below is View on Monetary Policy By Suvodeep Rakshit, Senior Economist, Kotak Institutional Equitie “The policy decisions are in line with our expectation on repo rate and stance. The rate corridor has now effectively reduced to 25 bps compared to 65 bps earlier. The SDF window will become the new floor at 3.75% even as reverse repo rate is at 3.35%. The policy has decidedly shifted away from being dovish. RBI’s concern on inflation has increased significantly especia...
View on RBI’s Monetary Policy By Suvodeep Rakshit, Kotak Institutional Equitie
View on RBI’s Monetary Policy By Suvodeep Rakshit, Kotak Institutional Equitie
Source: PR Agency
8/04/2022 4:23:31 PM
Allocations to Indian market increase in September The month of September saw listed funds inflows of $362 mn, dominated by ETF inflows of S$295 mn into India, Kotak Institutional Equities said in a report. India-dedicated funds saw inflows of $172 mn led by non-ETF inflows of S$167 mn, while GEM funds saw inflows of S$118 mn led by S$251 mn of ETF inflows which was offset by S$133 mn of non-ETF outflows. As per the report, listed emerging market fund flows were mixed for all countries. China witnessed $10.8 bn of inflows, followed by B...
Allocations to Indian market increase in September
Allocations to Indian market increase in September
Source: IANS
28/10/2021 2:06:42 PM
Listed fund inflows rise in August Boosted by non-exchange traded fund (ETF) flows, listed funds inflows into the country increased in the month of August to $983 million, a report by Kotak Institutional Equities has said. Of the inflows, $824 million came from non-ETF category. Over the past few months, fund flows were largely dominated by ETFs. According to the brokerage, India-dedicated funds saw outflows of $165 million broken down into $74 million of ETF outflows and $91 million of non-ETF outflows, while GEM (globa...
Listed fund inflows rise in August
Listed fund inflows rise in August
Source: IANS
28/09/2021 2:18:30 PM
Pick up in economic activity to shoot up country's CAD to over 1% in FY22 With a pick up in economic activity and the consequent rise in imports, India is expected to quickly turn from a position of current account surplus in FY21 to that of current account deficit (CAD) in FY22. As per an assessment by Kotak Institutional Equities (KIE), the country's current account deficit to GDP is likely at 1.1 per cent in FY22 with rupee remaining strong against dollar and remaining in the Rs 72.5-74 range in near term. The Covid-19 pandemic and nationwide lockdown ...
Pick up in economic activity to shoot up country's CAD to over 1% in FY22
Pick up in economic activity to shoot up country's CAD to over 1% in FY22
Source: IANS
3/09/2021 3:46:45 PM
FPIs sold stocks in financial, IT sectors in July As foreign portfolio investors (FPI) withdrew investments from Indian equities in July, financial, industrial, and information technology were the sectors in which FPIs sold the most stocks. FPIs pulled out $1,535 million from financial stocks last month, according to a report by Kotak Institutional Equities. IT and industrials witnessed an outflow of $465 million and $218 million, respectively, worth of foreign portfolio investments. Net FPI outflow from the equities stood at Rs 11,...
FPIs sold stocks in financial, IT sectors in July
FPIs sold stocks in financial, IT sectors in July
Source: IANS
27/08/2021 9:33:44 AM
Views on Monetary Policy by Suvodeep Rakshit, Kotak Institutional Equities Below are Views on Monetary Policy by Suvodeep Rakshit, Vice President & Senior Economist at Kotak Institutional Equities Overall, the policy is as expected on rates and stance. We had raised a possibility of split voting and divergence in members’ opinions, the details of which will be further clear in the minutes. While we had expected the liquidity related normalization measures from September/October, the RBI’s frontloading of VRRR comes with a stagg...
Views on Monetary Policy by Suvodeep Rakshit, Kotak Institutional Equities
Views on Monetary Policy by Suvodeep Rakshit, Kotak Institutional Equities
Source: PR Agency
6/08/2021 1:41:30 PM
India's IT exports may witness double-digit growth in FY22: Report As Indian IT majors adapt to the post-Covid business dynamics and spend heavily on several aspects, IT exports from the country are expected to witnessed a healthy double-digit growth in the ongoing financial year, according to a report prepared by Kotak Institutional Equities. Noting that there has been strong spending across companies in the IT sector, the report said that the strength in spending will show in the strong growth of IT services companies. The compressed timelines have f...
India's IT exports may witness double-digit growth in FY22: Report
India's IT exports may witness double-digit growth in FY22: Report
Source: IANS
25/06/2021 5:15:47 PM
Views on Monetary Policy by Suvodeep Rakshit, Kotak Institutional Equities Below are Views on Monetary Policy by Suvodeep Rakshit, Vice President & Senior Economist at Kotak Institutional Equities:- “The announcements on policy rates, stance, and liquidity management was as per expected. The announcements on GSAP 1.0 and GSAP 2.0 are in line expectations too. Markets could be slightly disappointed with the last tranche of GSAP 1.0  including SDL within the Rs400 bn limit, especially, after the announcement of a possible Rs1.58 t...
Views on Monetary Policy by Suvodeep Rakshit, Kotak Institutional Equities
Views on Monetary Policy by Suvodeep Rakshit, Kotak Institutional Equities
Source: Kotak Institutional Equities
4/06/2021 12:25:48 PM
Indian equities resilient amid 2nd Covid wave on fall in daily cases Even as the country goes through a severe second wave of Covid-19 the stock market has been largely resilient. A report by Kotak Institutional Equities said that the resilience can be attributed to the declined in daily confirmed cases of Covid-19 and the eventual possibility of reopening of lockdowns across states. It noted that the disconnect between the human tragedy and the markets largely comes on the back of difference in the behaviour, which for humans is emotional and for the marke...
Indian equities resilient amid 2nd Covid wave on fall in daily cases
Indian equities resilient amid 2nd Covid wave on fall in daily cases
Source: IANS
25/05/2021 3:32:40 PM
Monetary Policy By Suvodeep Rakshit, Kotak Institutional Equities Below are Views On Monetary Policy By Suvodeep Rakshit, Vice President & Senior Economist at Kotak Institutional Equities “The RBI’s decisions reinforce the wait-and-watch policy with regards to policy rates as uncertainties remain on the growth outlook. The GSec acquisition program (GSAP) will provide a calendar for OMOs (through the secondary market) which markets have been demanding for some time. This should be positive for the bond market in the near term and...
Monetary Policy By Suvodeep Rakshit, Kotak Institutional Equities
Monetary Policy By Suvodeep Rakshit, Kotak Institutional Equities
Source: Kotak Institutional Equities
7/04/2021 2:53:31 PM
Budget: Tough balancing act for government ,says Report The Budget 2021-22 may see the trade-off to become more acute between stimulating growth, and maintaining fiscal rectitude, Kotak Institutional Equities said in a pre-budget note. The Covid-19 pandemic disruptions has pushed down the country GDP growth into the negative zone in two successive quarters and projections are that GDP may contract over 7 per cent in FY21. This contraction has come on the the back of increased spending by the government on Covid relief measures that has alrea...
Budget: Tough balancing act for government ,says Report
Budget: Tough balancing act for government ,says Report
Source: IANS
26/01/2021 3:33:03 PM