← Go back Jan 01, 2024
Initiate’s coverage with 'buy' rating and target price of Rs 800 Estimates PAT CAGR of 28% over FY23-FY26E and an RoA/RoE of 4.1%/22% by FY26E Expects IIFL to be able to maintain its NIM at similar levels in FY25/FY26 with a potential upside from credit rating upgrade Expect the proportion of off-book loans to improve to 43% by FY26. Anticipates the proportion of co-lending to rise to 50% Expects branch expansion strategy to take a back seat and higher productivity to result in improved opex-to-average AUM ratio of 3.5% by FY26 U.S. Dollar Index at 102.38 U.S. 10-year bond yield at 3.99% Brent crude up 0.37% at $77.88 per barrel Nymex crude up 0.57% at $72.60 per barrel GIFT Nifty was 0.07% or 15 points higher at 21,773 as of 8:15 a.m. Bitcoin was down 1.90% at $43,643.75 Nifty January futures up by 0.86% to 21,785.95 at a premium of 127.35 points. Nifty January futures open interest down by 1.8%. Nifty Bank January futures up by 1.19% to 48,501.75 at a premium of 305.9 points. Nifty Bank January futures open interest up by 2.4%. Nifty Options Jan 11 Expiry: Maximum Call open interest at 22,500 and Maximum Put open interest at 21,000. Bank Nifty Options Jan. 10 Expiry: Maximum Call Open Interest at 50,000 and Maximum Put open interest at 46,000. Securities in the ban period: Balrampur Chini Mills, Chambal Fertilizer, Delta Corp, Escorts, Gujarat Narmada Valley Fertilizer and Chemicals, Hindustan Copper, Indian Energy Exchange, Indian Cements, National Aluminium, SAIL, Zee Entertainment. Sobha: Dendana Investments Mauritius bought 5.09 lakh shares (0.53%) at Rs 1,269.57 apiece. Mangalore Chemicals and Fertilizers: Promoter Zuari Agro Chemicals revoked a pledge for 20 lakh shares on Jan. 2. Torrent Power: To meet analysts and investors on Jan. 9. Allcargo Gati: To meet analysts and investors on Jan. 10. Flair Writing Industries: To meet analysts and investors on Jan. 9 . Gravita India: To meet analysts and investors on Jan. 9. Eris Lifesciences: To meet analysts and investors on Jan. 9. Price band revised from 10% to 5%: PC Jeweller, Jay Bharat Maruti. Ex/record Stock Split: Nestle India. Moved into a short-term ASM framework: Alok Industries, Bajel Projects, Indo Amines . Moved out of a short-term ASM framework: Genesys International Corp, Heritage Foods, Inox Green Energy Services.
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