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  • Magma Fincorp

    Shift in loan mix towards high yielding segments like tractor financing and used vehicle financing would aid company’s growth. We estimate AUM growth improving to 15% CAGR over FY18-20E, which would drive 28% earnings growth. Over FY18-...

    Buy Reco. Price: 124.00

  • M & M Fin. Serv.

    MMFS, India’s largest tractor financier, is a key beneficiary of cyclical rebound in rural economy. Strong underlying growth in vehicle demand, improvement in collection efficiency, improving rural macros, shifting focus to growth and a well-capitaliz...

    Buy Reco. Price: 424.00

  • LIC Housing Fin.

    LICHF migration to Ind-AS will lead to earnings upgrade by 4.6%-4.8% for FY19-20E respectively. LICHF’s core operations, however, remain challenged on loan growth, margins and retail credit quality. Despite this, LICHF is likely to deliver 1.4-1.5% RO...

    Buy Reco. Price: 524.00

  • Larsen & Toubro

    L&T’s order book, as of Q3FY19, stood at Rs2.84 lakh cr. The order inflows (ex services) were down only 18% yoy to Rs34,000cr during Q3FY19 despite delays in decision making on nearly Rs20,000cr worth of projects. Increased share of shorter-cy...

    Buy Reco. Price: 1,383.00

  • Kotak Mah. Bank

    KMB would register strong loan growth at 20% CAGR over FY18-20E largely due to robust increase in corporate and retail segment lending. It also benefits from synergies arising on acquisition of ING Vysya Bank. We see CAGR of 19% in NII over FY18-20E. Higher...

    Buy Reco. Price: 1,379.00

  • Karur Vysya Bank

    The bank is in a comfortable position in terms of asset quality, less slippages, falling watchlist and higher recoveries. We believe the worst for KVB in terms of asset quality will be over by H2FY19E, post which we expect normalization of slippages. We exp...

    Buy Reco. Price: 81.00

  • IndusInd Bank

    The bank is expected to register 27% loan book CAGR over FY18-20E propelled by improved loan mix and corporate loans. Further, strong consumer finance and rising CASA franchise bodes well for margin expansion. We expect loan book CAGR of 25% over FY18-2...

    Buy Reco. Price: 1,774.00

  • ICICI Bank

    We forecast advances growth of 18% CAGR over FY18-20E driven by retail & SME segment. Slippages under watch list over next couple of years to reduce with lending to higher rated companies and upgrades from lumpy steel and infra sector. Further,...

    Buy Reco. Price: 400.00

  • I O C L

    Paradip refinery has stabilized and should benefit going forward, as the heavy crude runs commence, thereby generating healthier refinery margin going forward. Earnings trajectory in refineing segment is likely to improve in coming quarters since large ...

    Sell Reco. Price: 160.00

  • HDFC Bank

    We expect judicious mix of wholesale and retail loan assets coupled with robust CASA growth to improve margins. We estimate revenue CAGR of 20% over FY18-20E owing to acceleration in retail loans and fee income. We believe the bank to ...

    Buy Reco. Price: 2,289.00