BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Axis Securities Report
Maruti Suzuki India Ltd. - Maruti Suzuki has a stronghold in the entry-Level segment and with recent launches in the compact (All-New Brezza) and mid SUV (Grand Vitara) segment it seems to be moving towards regaining lost market share by FY25E. We expect a rise in demand from new launches along with upgradation of existing product portfolio, softening commodity inflation and improving engine control unit shortages to support recovery in the margins.
Bajaj Finance Ltd. - Bajaj Finance’s digital initiatives and business transformation are key positives to look forward to and are currently progressing well with sequential improvement visible across metrics. With the digital transformation journey likely to be completed by FY23, we believe it should contribute meaningfully to the overall growth.
SBI Cards and Payment Services Ltd. - Robust business momentum, improving net interest margins, and muted credit costs will help SBI Cards deliver superior return on asset/return on equity of 6-6.3%/27-28% over the medium term. However, owing to intensive competition, especially from the private banks, maintaining and improving market share will be challenging and remain a key monitorable.
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