New Delhi: Taking into account the strong Q3FY22 quarter for banks and housing finance companies, the brokerage house Centrum Broking sees large banks' outlook attractive going ahead.
Asset quality further improved for banks during the quarter, the brokerage said, adding that the economy bouncing back sharply in Q3FY22 which also coincided with the festive season, helped lenders report better sequential loan growth. In the housing finance space, the brokerage bets on Can Fin Homes, whereas UTI Asset Management and Aditya Birla Sun Life Asset Management as preferred picks among the asset management companies.
"Asset management company' core income grew by 3.9 percent quarter-on-quarter to Rs 9.25 billion as overall/ equity 'QAAuM' grew by 3 per cent/6 percent QoQ. HDFC, Nippon, and ABSL AMC performed better while UTI AMC earnings missed estimate led by a sharp contraction in equity yields," the brokerage said. However, UTI AMC continues to gain market share.
Source - IANS
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