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Buy Cholamandalam Investment & Finance Ltd For Target Rs.1,670 By Yes Securities Visibility of strong earnings growth Surpasses expectations yet again; Stage 2 & 3 increase largely seasonal Chola delivered 10% earnings beat on our expectation, despite a higher credit cost, on the back of 1) stronger-than-expected disbursements/AUM growth, 2) 4% core NII beat with NIM expansion (calc.), 3) higher-than-expected fee/insurance income and 4) lower-than-estimated opex. RoA/RoE stood at 2.4%/19%. Disbursements were 6% higher than expectations at Rs243.3bn (down 2% q...
Buy Cholamandalam Investment & Finance Ltd For Target Rs.1,670 By Yes Securities
Buy Cholamandalam Investment & Finance Ltd For Target Rs.1,670 By Yes Securities
Source: Yes Securities Ltd
2024-08-11 11:56:55 am
Buy Cholamandalam Inv. & Finance Ltd For Target Rs.1,675 By Motilal Oswal Financial Services Operating beat but PAT in line due to high credit costs Strong AUM growth of ~35% YoY; NIM expanded ~10bp QoQ * Mr. Ravindra Kundu (currently Executive Director) has been appointed MD & CEO for a period of five years, effective 7th Oct’24. * CIFC’s 1QFY25 PAT grew ~30% YoY to INR9.4b (in line). NII grew ~40% YoY to ~INR25.7b (in line). Other income grew ~62% YoY to~INR4.6b (6% beat). * Opex rose ~50% YoY to ~INR11.8b and the cost-income ratio rose ~2pp YoY to ~39%...
Buy Cholamandalam Inv. & Finance Ltd For Target Rs.1,675 By Motilal Oswal Financial Services
Buy Cholamandalam Inv. & Finance Ltd For Target Rs.1,675 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services uploads/news/Cholamandalam Investment and Finance Ltd.jpg
2024-08-06 10:39:44 am
Buy Cholamandalam Investment and Finance Co. Ltd For Target Rs. 1,650 By JM Financial Services Inline quarter; Robust outlook Cholamandalam Investment and Finance (CIFC) reported an in-line PAT of INR 9.4bn (+30% YoY, -11% QoQ) as NII grew (+40% YoY, +9.3% QoQ, +4% JMFe) to INR 25.7bn. However, NIMs were down -20bps QoQ as yields declined -10bps QoQ while CoFs moved up +10bps QoQ. Opex was down (-8% QoQ) on account of salary increments given in Q4. This led to PPoP of INR 18.5bn (+38% YoY, +14% QoQ). Credit costs were elevated at INR 5.8bn (155bps of AUM vs 135bps QoQ) due to usuall...
Buy Cholamandalam Investment and Finance Co. Ltd For Target Rs. 1,650 By JM Financial Services
Buy Cholamandalam Investment and Finance Co. Ltd For Target Rs. 1,650 By JM Financial Services
Source: JM Financial Services
2024-08-04 06:03:38 pm
Stock of the day : Cholamandalam Investment and Fin Co Ltd For Target Rs. 1420 - Religare Broking Ltd Cholamandalam Investment and Fin Co Ltd * CHOALFIN has recorded a fresh breakout from the consolidation range which continued for over 10 months. * It has formed a fresh buying pivot holding above its short term moving average indicates momentum in place. * Considering price pattern and uptick in volumes, we believe bullish tone to continue. * Traders can consider fresh longs in the mentioned range. Buy Cholamandalam Investment and Fin Co Ltd CMP 1337.85 Range&nbs...
Stock of the day : Cholamandalam Investment and Fin Co Ltd For Target Rs. 1420 - Religare Broking Ltd
Stock of the day : Cholamandalam Investment and Fin Co Ltd For Target Rs. 1420 - Religare Broking Ltd
Source: Religare Broking Ltd
2024-06-10 10:50:34 am
Buy Cholamandalam Inv. & Finance Ltd For Target Rs.1,470 - Motilal Oswal Financial Services Ltd AUM growth robust; No NIM expansion because of rise in CoB Asset quality improved in newer business, supported by write-offs * CIFC’s 3QFY24 PAT grew 28% YoY to INR8.8b (in line), while NII grew 36% YoY to ~INR21.7b (in line). 9MFY24 PAT rose 30% YoY to INR23.6b. * ‘Other income’ rose ~75% YoY to ~INR4.1b. This was primarily because CIFC had started booking the insurance distribution income in the standalone entity after receiving the insurance agency license. *...
Buy Cholamandalam Inv. & Finance Ltd For Target Rs.1,470 - Motilal Oswal Financial Services Ltd
Buy Cholamandalam Inv. & Finance Ltd For Target Rs.1,470 - Motilal Oswal Financial Services Ltd
Source: motilal oswal financial services Ltd
2024-04-27 11:10:02 am
Buy Cholamandalam Inv. & Finance Ltd For Target Rs.1,470 - Motilal Oswal Financial Services Ltd AUM growth robust; No NIM expansion because of rise in CoB Asset quality improved in newer business, supported by write-offs * CIFC’s 3QFY24 PAT grew 28% YoY to INR8.8b (in line), while NII grew 36% YoY to ~INR21.7b (in line). 9MFY24 PAT rose 30% YoY to INR23.6b. * ‘Other income’ rose ~75% YoY to ~INR4.1b. This was primarily because CIFC had started booking the insurance distribution income in the standalone entity after receiving the insurance agency license. ? Op...
Buy Cholamandalam Inv. & Finance Ltd For Target Rs.1,470 - Motilal Oswal Financial Services Ltd
Buy Cholamandalam Inv. & Finance Ltd For Target Rs.1,470 - Motilal Oswal Financial Services Ltd
Source: motilal oswal financial services Ltd
2024-04-23 12:32:29 pm
Add Cholamandalam Invest. & Finance Ltd. For Target Rs. 1,380 By Yes Securities Ltd. Almost stable spreads and strong asset quality; disbursement growth decelerates as expected Chola’s core NII (ex. of Fees) and PPOP came in-line with our expectation while PAT was 3% lower on slightly higher credit cost. AUM growth remained strong at 7.7% qoq/40% yoy even as disbursement growth decelerated to 4% qoq/27.5% yoy. HL originations were flat qoq whereas disbursements in New Businesses (CSEL, SBPL & SME loans) have been nearly stagnant over the past three quarters. R...
Add Cholamandalam Invest. & Finance Ltd. For Target Rs. 1,380 By Yes Securities Ltd.
Add Cholamandalam Invest. & Finance Ltd. For Target Rs. 1,380 By Yes Securities Ltd.
Source: Yes Securities Ltd.
2024-04-21 02:03:58 pm
Buy Cholamandalam Investment and Finance For Target Rs.1470 By Motilal Oswal Financial Services -      CIFC’s 3QFY24 PAT grew 28% YoY to INR8.8b (in line), while NII grew 36% YoY to ~INR21.7b (in line). 9MFY24 PAT rose 30% YoY to INR23.6b. -      ‘Other income’ rose ~75% YoY to ~INR4.1b. This was primarily because CIFC had started booking the insurance distribution income in the standalone entity after receiving the insurance agency license. -   ...
Buy Cholamandalam Investment and Finance For Target Rs.1470 By Motilal Oswal Financial Services
Buy Cholamandalam Investment and Finance For Target Rs.1470 By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-04-17 09:43:07 am
Stock of the day : Cholamandalam Investment and Fin Co Ltd For Target Rs. 1385 - Religare Broking Cholamandalam Investment and Fin Co Ltd * CHOLAFIN has been in steady uptrend for over 8 months, trading at its record highs levels. * It has registered a fresh breakout from the cup and handle pattern while holding above its short term moving average. * Price pattern combined with uptick in volumes suggests bullish tone to continue. * We thus recommend creating fresh longs in the mentioned range. Buy Cholamandalam Investment and Fin Co Ltd CMP 1297.25; Range 1295...
Stock of the day : Cholamandalam Investment and Fin Co Ltd For Target Rs. 1385 - Religare Broking
Stock of the day : Cholamandalam Investment and Fin Co Ltd For Target Rs. 1385 - Religare Broking
Source: Religare Broking Ltd
2024-01-05 10:47:48 am
Add Cholamandalam Investment & Finance For Target Rs.1,270 - Yes Securities Stronger on Growth and NIM An overall strong performance Chola delivered a 5-6% beat on NII/POP on the back of stronger-than-expected disbursement/AUM growth. Overall asset quality was stable even with the expected increase in Stage-3 of New Products. Credit cost was higher than estimate and represented ECL coverage improvement in VF and increased delinquencies in New Products (CSEL, SBPL & SME loans). RoA/RoE for the quarter stood at 2.4%/20%. Sequential Disbursements/AUM growth...
Add Cholamandalam Investment & Finance For Target Rs.1,270 - Yes Securities
Add Cholamandalam Investment & Finance For Target Rs.1,270 - Yes Securities
Source: Yes Securities Ltd
2023-12-07 04:18:10 pm
Buy Cholamandalam Investment and Finance Ltd For Target Rs.1,420 - Motilal Oswal Earnings in line; NIM to expand further in 2HFY24 Acknowledgement of stress in partnership-led unsecured loans * CIFC’s 2QFY24 PAT grew 35% YoY to INR7.6b (in line), while NII increased by 35% YoY to ~INR20.2b (in line). * Opex rose 43% YoY to ~INR9.5b (in line), and the cost-to-income ratio increased by ~1pp YoY to ~40% (vs. ~39% in 2QFY23). The opex ratio remained elevated in 2QFY24 due to inherent seasonality in 2Q and annual increments and promotions given to employees effe...
Buy Cholamandalam Investment and Finance Ltd For Target Rs.1,420 - Motilal Oswal
Buy Cholamandalam Investment and Finance Ltd For Target Rs.1,420 - Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
2023-11-28 11:35:33 am
Buy Cholamandalam Investment and Finance Ltd For Target Rs.1,310 - Emkay Global Financial Services CIFC delivered a robust performance in Q2FY24, with AUM at Rs1,242bn (~42% YoY, ~8% QoQ), PAT at Rs7.62bn and Asset Quality (GS3/GNPA at ~3.0%/~4.1%) coming broadly in line with Consensus and our estimates. GS3 reaching ~4.7% in partnership lending is a warning sign, albeit more of a niggling issue, as it currently constitutes ~2% of AUM, with the company also carrying FLDG arrangement on such loans. Overall, the management remains confident of ~25-30% AUM growth, NIM improvement—led by...
Buy Cholamandalam Investment and Finance Ltd For Target Rs.1,310 - Emkay Global Financial Services
Buy Cholamandalam Investment and Finance Ltd For Target Rs.1,310 - Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-11-21 02:58:48 pm