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  • Manappuram Fin.

    We expect the overall AUM CAGR of ~19% over FY18-20E, crossing the Rs21,000cr. This will be driven by increased revenues from gold loan segment (~ 10% over in FY18-20E) and the proportion of non-gold loan book is expected to increase considerably to ~40%. T...

    Buy Reco. Price: 83.35

  • 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: 2,105.00

  • Karnataka Bank

    The bank’s focus on higher retail proportion, improving CASA, reduction in the RIDF portfolio and increasing CD ratio (~80%) to drive NIMs improvement. We expect the bank NIM to expand by 20 bps to 3% over FY18-20E. We forecast advances to grow at...

    Buy Reco. Price: 103.00

  • Aditya Birla Cap

    We expect ABFL to report ~25% AUM CAGR over FY18-20E, led by higher focus on retail, SME and mid-corporate segments along with branch expansions and better CAR. Focus on product and customer diversification, strong brand, exploiting technology platform and ...

    Buy Reco. Price: 97.20

  • Vijaya Bank

    Governement has announced to merge Vijaya Bank with Bank of Baroda and Dena Bank. The merger is expected to be completed within 6 months. Bank is focused on retail segment vs. corporate loan book. We expect it to register ~9% loan book CAGR over FY18-20E, l...

    Buy Reco. Price: 41.70

  • M & M Fin. Serv.

    MMFS is a key beneficiary of cyclical rebound in rural economy. The strong underlying growth in vehicle demand, improvement in collection efficiency, improving rural macros, shifting focus to growth and a well-capitalized balance sheet augur well for MMFS.&...

    Buy Reco. Price: 420.00

  • Jet Airways

    Jet Airways urgently needs funds to repay obligations and meet regular operational expenses as its financial parameters have shattered owing to increased jet fuel prices, currency headwinds and cut-throat competition in the sector. Plans of aircraft sale an...

    Sell Reco. Price: 285.40

  • Interglobe Aviat

    IndiGo is transforming to gain market share (currently 42.4%) by shifting from pure sale/leaseback model to buying aircrafts as well as increasing emphasis on shorter-term leases. The airline has sufficient free cash of Rs4,418cr (as on Q2FY19) to fund flee...

    Accumulate Reco. Price: 961.00

  • Escorts

    Escorts is a play on recovery in rural income, infrastructure building and railways in India. It reported slightly lower than expected numbers in Q2FY19 led by revenue, EBITDA and PAT growth of 15% yoy, 12% yoy and 32% yoy respectively. On the back of cost ...

    Buy Reco. Price: 631.35

  • Bajaj Auto

    Management is hopeful of margin expansion over next couple of quarters due to favourable product mix (growing proportion of Pulsar to total mix, higher share of Platina compared to CT100), new launches in higher-margin M3 segment and consistent price hikes....

    Buy Reco. Price: 2,746.00