Report
Team Research

MOSL: Morning India (31/July/17)-1. Capital First (IC) 2. L&T 3. NTPC 4. HPCL 5. LIC Housing 6. Idea Cellular 7. Biocon 8. Glenmark Pharma

​MOrning India (31/July/17): 1. Capital First (Initiating Coverage); 2. L&T; 3. NTPC; 4. HPCL; 5. LIC Housing; 6. Idea Cellular; 7. Biocon; 8. Glenmark Pharma

Today’s top research idea

Capital First: Capitalizing on multiple opportunities

  • ​Over the past six years, Capital First has transformed itself from a predominantly wholesale financier to a well-diversified retail financier with impeccable asset quality. CAFL is a niche play in the retail NBFC space with a diversified loan portfolio. While secured MSME financing is the largest product in the portfolio, CAFL targets to increase the share of higher-yielding consumer durables (CD) and two-wheeler (2W) financing from 13%/10% currently to 16-17% each by FY19.
  • Additionally, the company has built a large unsecured MSME financing book (18% of total). Over the past few years, CAFL has made significant investments in building new product segments. With the investment phase now largely behind, the benefits are expected to accrue over the medium term. We expect RoA/RoE to improve from 1.6%/12% in FY17 to 1.9%/17% in FY20.

Piping hot news

Infosys sees another senior-level exit, in fresh blow to Vishal Sikka

  • A top executive at Infosys Ltd's products and platforms unit EdgeVerve has quit, three executives familiar with the development said.


Provider
Motilal Oswal
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.

Analysts
Team Research

Other Reports from Motilal Oswal

ResearchPool Subscriptions

Get the most out of your insights

Get in touch