Nine Directors at Sammaan Capital Limited sold 203,370 shares at between 0.000INR and 194.000INR. The significance rating of the trade was 73/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
The independent financial analyst theScreener just lowered the general evaluation of INDIABULLS HOUSING FIN (IN), active in the Mortgage Finance industry. As regards its fundamental valuation, the title now shows 3 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date January 12, 2021, the closing price was INR 234.85...
INDIABULLS HOUSING FINANCE: Focus on reducing corporate exposure(IHFL IN, Mkt Cap USD3.1b, CMP INR514, Under Review) ** PAT of INR8.0b was 3% below our estimates. The marginal miss was on account of slightly higher credit costs and taxes. ** Disbursements were steady at 4QFY19 levels of ~INR75b. During the quarter, the company focused on reducing its commercial real estate (CRE) exposure due to the impending LVB merger. It got INR60b of CRE loans refinanced. As a result, overall AUM declined 6...
Indiabulls Housing Finance: Announces amalgamation with LVB- a marriage of convenience; RBI’s approval a key; can set stage for further sector consolidation (IHFL IN, Mkt Cap USD5.6b, CMP INR903, Under Review) Indiabulls Housing Finance (IHFL) and Lakshmi Vilas Bank (LVB) have announced amalgamation, setting the stage for another NBFC (HFC) marriage with a bank. For LVB shareholders, for every 100 shares, they will get 14 shares of IHFL. This implies a 36% premium to the closing price of ...
Indiabulls Housing Finance: Core business trends stable, but AUM growth to slow down (IHFL IN, Mkt Cap USD4b, CMP INR665, TP INR900, 35% Upside, Buy) PAT declined 15% YoY (-6% QoQ) to INR9.9b (3% miss) in a quarter characterized by tepid loan growth and stable asset quality. Management adopted a cautious stance on disbursements, which were at INR39b. AUM grew 16% YoY to INR1.24t. However, IHFL sold down loans worth ~INR120b in the quarter and booked income of ~INR5.5b on the same. Mana...
INDIABULLS HOUSING FINANCE – 2QFY19: Core business trends stable but AUM growth to slow down (IHFL IN, Mkt Cap USD5.5b, CMP INR949, TP INR1150, 21% Upside, Buy) Indiabulls Housing Finance's (IHFL) PAT grew 21% YoY (-1% QoQ) to INR10.4b (3% miss) in a quarter characterized by robust loan growth, some margin pressure and stable asset quality. AUM increased 29% YoY to INR1.29t, driven by disbursement growth of 23% YoY to INR110b. IHFL sold down loans worth INR34.7b during the quarter, with...
Indiabulls Housing Finance: IND AS transition positive; Asset quality stable (IHFL IN, Mkt Cap USD8.1b, CMP INR1301, TP INR1650, 27% Upside, Buy) Indiabulls Housing Finance's (IHFL) PAT grew (under IND AS) 30% YoY to INR10.5b on back of 33% YoY growth in loans. While operating profits grew 18% YoY to INR14.6b, lower provisioning requirement under IND AS led to PBT growth of 32% YoY. Asset quality was stable QOQ with GNPA % at 78bp. Company reported gross stage loans of INR9.8b and cover...
Indiabulls Housing Finance: Growth surprises positively; asset quality stable (IHFL IN, Mkt Cap USD8.6b, CMP INR1356, TP INR1650, 22% Upside, Buy) Indiabulls Housing Finance's (IHFL) core operating performance was robust. AUM grew strongly by 34% YoY to INR1.23t v/s our expectation of INR1.17t. A decline in reported spreads (-13bp YoY), an increase in leverage, and moderation in liquid money-related income led to 22% NII growth. Tax rate was at 18% for the quarter. Disbursements for the qua...
​Indiabulls Housing Finance: Strong growth, stable performance overall(IHFL IN, Mkt Cap USD7.6b, CMP INR1343, TP INR1550, 15% Upside, Buy)Indiabulls Housing Finance's (IHFL) PAT grew 26% YoY to INR8.6b (4% above our estimate). Core operating performance was robust, with strong AUM growth (+33% YoY) and stable spreads. However, other income (income from the liquid investment book) remains subdued due to lower incremental yields. Note that IHFL had generated a good spread on its investment book ...
​Indiabulls Housing Finance: Strong growth, stable performance overall(IHFL IN, Mkt Cap USD7.6b, CMP INR1155, TP INR1350, 17% Upside, Buy)Indiabulls Housing Finance's (IHFL) PAT grew 23% YoY to INR7.8b (8% below our estimate), mainly driven by lower-than-estimated income on investments. Core operating performance was robust, with strong AUM growth (+33% YoY), stable spreads and a decline in C/I ratio. Management alluded to strong growth witnessed in the home loan segment, especially the mass ...
​Indiabulls Housing Finance: Impressive performance on all fronts(IHFL IN, Mkt Cap USD6.6b, CMP INR1007, TP INR1227, 22% Upside, Buy)Indiabulls Housing Finance's (IHFL) PAT grew 24% YoY to INR8.4b (1% below our estimate) in a quarter that was characterized by strong disbursement growth (+44% YoY), stable spreads and cost-to-income ratio. The tax rate, however, was lower at 14%, the impact of which was offset by increased additions to floating provisions buffer. AUM growth of 33% YoY (+12% QoQ)...
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