FINANCIALS SECTOR
CREDIT SUISSE ON NBFCs : 18.06.2021
Credit Suisse cuts FY22 estimate for NBFCs by 10-16% on higher provisions & lower loan growth
* Survey Of Truck Owners Reveals Impending EMI Defaults & Slower Demand
• Cut FY22 Estimate By 10-16% On Higher Provisions & Lower Loan Growth
* Shriram Transport With A Target Of 1,675/Sh Is Our Top Pick
* Cautious On M&M Fin; Have A Neutral Call With Target Of 165/Sh
* Maintain Outperform On Chola With A Traget Of *610/Sh
JPMORGAN ON FINANCIALS : 23.06.2021
* SBI, HDFC Bank and ICICI look best positioned
• FY21 performance benchmarking: large banks did better
* Large bank performance remains better in FY21
* Corporate sector asset quality normalization is bullish for public sector banks
• Risk of higher restructuring by end-Sep remains
• Post F22/23 Street EPS estimates have been revised up
FINANCIALS SECTOR
