MOSL: Morning India (9/December/21): 1. Cholamandalam Inv & Fin.( Going strong despite supply-side headwinds); 2. Technology; 3. Whirlpool; 4. Healthcare; 5. India Logistics; 6. EcoScope
Morning India (9/December/21): Morning India (9/December/21):
Today’s top research ideaCholamandalam Inv & Fin: Going strong despite supply-side headwinds- CIFC is well-diversified across product segments as well as geographies. Importantly, it has delivered the best asset quality among peers across credit cycles as well as in times when the external environment has been tough. - The impact of newer variants / COVID waves is a known unknown; however, the levels of provisions carried by CIFC today give us comfort that any newer disruption in the economy should not lead to outsized credit costs. - Given CIFC's ability to deliver industry-leading growth in the loan book- coupled with its strong asset quality and consequently healthy RoE of ~19% - we believe it would continue to command premium valuations relative to its listed peers. Maintain Buy, with TP of INR700 (3.9x Sep'23E BVPS).
Piping hot newsOla Electric raises $53 mn in round led by Temasek, valued at $2.7 bnTemasek, which invested through its affiliate Macritchie Investments Pte. Ltd., led a ₹398 crore ($53 million) financing round for Ola Electric at a post-money equity valuation of $2.7 billion ( ₹2025 crore), according to VCCircle estimates.
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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