Motilal Oswal - MOSL: MOrning India (28/July/22): 1. Bajaj Finance (Beat on earnings; momentum to only get stronger from hereon); 2. India Strategy; 3. Maruti Suzuki; 4. Tata Motors; 5. Bajaj Auto

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MOSL: MOrning India (28/July/22): 1. Bajaj Finance (Beat on earnings; momentum to only get stronger from hereon); 2. India Strategy; 3. Maruti Suzuki; 4. Tata Motors; 5. Bajaj Auto

Bajaj Finance: Beat on earnings; momentum to only get stronger from hereon

Customer acquisitions and new loans trajectory has been strong and the momentum will only get stronger with the digital ecosystem - app, web platform and the full-stack payment offerings.
We expect BAF to be able to deliver a healthy AUM CAGR of ~26% over FY22-FY24. Even though the management guided that it will prioritize margins over loan growth, we believe that NIM compression is likely in FY23 given that levers on borrowing costs have largely played out and its limited ability to pass on the higher cost of funds on a largely fixed-rate book.
BAF should deliver a RoA/RoE of 4.4%/22% over the medium term. Maintain our Buy rating with a TP of INR7,320 per share (7.0x FY24E BVPS).
Piping hot news

Food business to see disproportionate growth: TCPL CEO Sunil D'Souza

The food segment in India will witness a disproportionate growth in the staples as well as packaged food category, said Sunil D'Souza, CEO & Managing Director at Tata Consumer Products, in an interview with ET Now. Currently, the company is planning to expand into the larger food and beverage portfolio by diving deep into more such categories.

28/07/2022 44 EN

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Motilal Oswal

Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.

Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.

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MOSL: MOrning India (28/July/22): 1. Bajaj Finance (Beat on earnings; momentum to only get stronger from hereon); 2. India Strategy; 3. Maruti Suzuki; 4. Tata Motors; 5. Bajaj Auto

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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