reports
With a more favourable environment, GRUH FINANCE LTD. improves to Slig...
GRUH FINANCE LTD. (IN), a company active in the Mortgage Finance industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 1 out of 4 stars, as well as its unchanged, defensive market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date June 21, 2019, the closing price was INR 279.80 and its potential wa...
2 directors sold
Two Directors at GRUH Finance Ltd. sold 116,000 shares at between 321.000INR and 321.793INR. The significance rating of the trade was 63/100. 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 over...
- Alpesh Mehta
MOSL: GRUH FINANCE (Coverage Suspended)-Bandhan Bank acquires Gruh Fin...
Gruh Finance: Bandhan Bank acquires Gruh Finance in an all-stock deal (GRHF IN, CMP INR295, Coverage Suspended) GRUH Finance (GRHF) and Bandhan Bank (Bandhan) has announced a scheme of amalgamation and according to the share swap ratio, for every 1,000 shares of GRHF shareholders will get 568 shares of Bandhan. This is at an ~8% discount to the closing price of GRHF as of 7 Jan’19 and at a ~2.5% premium to the last six months average price. Following this event, GRUH Finance will cease to b...
- Alpesh Mehta
MOSL: GRUH FINANCE (Neutral)-Loan growth slows down to multi-quarter l...
Gruh Finance: Loan growth slows down to multi-quarter low; positive impact of Ind-AS on profitability (GRHF IN, Mkt Cap USD3.4b, CMP INR324, TP INR300, 7% Downside, Neutral) GRHF’s loan growth slowed down to 16% YoY (v/s 19% a year ago and 24% two years ago). Loan book stands at INR159b. This was due to 2% YoY growth in disbursements and a 150bp increase in repayment rate to 24.1%. Note that the repayment rate was 400bp+ higher on a YoY basis in FY18. Importantly, core home loan growth s...
- Alpesh Mehta
MOSL: GRUH FINANCE | Annual Report Update (Neutral)-Good traction in C...
GRUH Finance | Annual Report Update: Good traction in CLSS; Volume-led disbursement growth; Tweak in liability strategy helped sustain margins in FY18 (GRHF IN, Mkt Cap USD3.3b, CMP INR303, TP INR300, 1% Downside, Neutral) FY18 was a mixed year for Gruh Finance (GRHF). While disbursement growth rebounded well from demonetization-hit lows in FY17, the company experienced higher repayment levels, keeping loan growth stable at 18% YoY. Disbursement growth of 27% YoY was driven by both volu...
- Alpesh Mehta
MOSL: GRUH FINANCE (Neutral)-Steady quarter; margins and opex surprise...
Gruh Finance: Steady quarter; margins and opex surprise positively (GRHF IN, Mkt Cap USD3.5b, CMP INR646, TP INR600, 7% Downside, Neutral) GRUH Finance (GRHF) reported strong 4QFY18 results, with continued high-teens loan growth, an improvement in margins and lower-than-expected operating expenses. However, higher tax expenses drove in-line PAT. Disbursements were up 20% YoY to INR15.1b for the quarter and up 28% YoY for the full year. Disbursement growth in the quarter was driven by ho...
- Alpesh Mehta
MOSL: GRUH FINANCE (Neutral)-Impressive all-round performance
​GRUH FINANCE: Impressive all-round performance(GRHF IN, Mkt Cap USD2.8b, CMP INR510, TP INR500, 2% Downside, Neutral)Gruh Finance (GRHF) reported PAT of INR778m (4% above our estimate) for 2QFY18, largely driven by lower-than-expected operating expenses. Opex growth slowed down to 11% YoY, resulting in 300bp YoY reduction in C/I ratio to 17.6%. In FY17, the company had incurred significant lagged expenses of branches opened in FY16, which will not recur this year.Loan growth was in line with ...
- Alpesh Mehta
MOSL: GRUH FINANCE (Neutral)-Impressive all-round performance
​Gruh Finance: Impressive all-round performance(GRHF IN, Mkt Cap USD1.9b, CMP INR492, TP INR450, 9% Downside, Neutral)Gruh Finance (GRHF) reported PAT of INR722m (7% below our estimate) for 1QFY18, driven by higher-than-expected provisioning charge. Operating performance was robust and ahead of expectations.Loan growth was in line with trend at 19% YoY, driven by retail home loans. Disbursements continue to be strong in retail home loans. Interestingly, the company disclosed disbursements unde...
- Alpesh Mehta
MOSL: GRUH FINANCE (Neutral)-Impressive all-round performance
​Gruh Finance: Impressive all-round performance(GRHF IN, Mkt Cap USD1.9b, CMP INR392, TP INR421, 7% Upside, Neutral)Gruh Finance (GRHF) reported PAT of INR1,104m (6% above our estimate) for 4QFY17, driven by strong loan growth, controlled operating expenses and lower provisioning charge.Loan growth for the quarter was a robust 19% YoY, marginally ahead of our expectation, driven by growth of 19% in housing loans and 37% in developer loans.Home loan disbursements were up a robust 59% YoY in the...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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