Comfortable liquidity to aid growth; upgrade to Buy
* We upgrade SCUF to Buy from Hold as the Q4FY21 performance justifies that its struggle for liquidity is finally o..
Asset quality improves; expect a normalized FY22
* Bajaj Finance (BAF)’s 4QFY21 PAT grew 42% YoY / 18% QoQ to INR13.5b (2% miss). While NII beat our estimates by..
Business transformation underway; modest growth and return metrics
PNB Housing Finance’s (PNBHF) earnings at Rs1.3bn were down 45% QoQ due to higher provisioning..
Expanding product strategy holds promise
HDFC Asset Management (HDFC AMC) reported lower than expected numbers in Q4FY21 due to lower yields QoQ (despite higher equity..
Fortifying position in retail; contingent buffer to cushion credit cost
L&T Finance Holdings’ (LTFH) Q4FY21 performance was skewed towards its targeted objec..
Result Highlights CREDAG’s performance in Q4 FY21 was stronger than expectations, adjusted for:
* Provisions related to accelerated write‐offs (3%/..
Long term prospects intact…
Bajaj Finance posted a steady set of numbers on the business and operational front with QoQ improvement in AUM, profitability being ..
Q4 FY21 was a strong quarter for IIB is many ways viz,
* Robust growth recovery in focus products/segments of Microfinance, Vehicle Finance, Gems ..
* In Q4 FY21, ESFB experienced incremental normalcy in business volumes (except in Microfinance) and achieved pre‐Covid collections in the current ..
* Q4 FY21 performance of Can Fin distinctly highlighted outcomes of the aggressive pricing strategy (in‐line with banks and large HFCs) adopted by ..
Business momentum robust; asset quality deteriorates sequentially
Watchful of asset quality; credit cost to stay elevated in the near term
* AUBANK reported a weak ..
Strong disbursement growth | Stable asset quality
* Shriram Transport (SHTF)’s 4QFY21 PAT grew 4% QoQ (+3.6x YoY on a low base) to INR7.5b (6% miss). Reported NI..
Rupee strengthens against US dollar on Tuesday
Rupee falls 10 paise to 73.94 against US dollar in early trade
NCLT approves sale of IL&FS education arm to LEHL
Rate decision, US stimulus likely constraints to rupee's further appreciation
Rupee slips on RBI's dovish stance, 'loose' policy
NE India's 15th airport becomes operational, caters to Bengal, Bhutan
CBIC allows undertakings in lieu of bond to facilitate critical imports
Bandhan Bank`s net profit falls 80% on higher provisioning
Weekly Tech Picks - MOIL Limited, CESC Limited, Bharti Airtel Limited, Indo Count Industries Limited By Axis Securities
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