{"id":11251,"date":"2022-07-11T13:55:29","date_gmt":"2022-07-11T08:25:29","guid":{"rendered":"https:\/\/blogs.univest.in\/?p=11251"},"modified":"2022-10-13T12:54:17","modified_gmt":"2022-10-13T07:24:17","slug":"recent-broker-recommendations","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/","title":{"rendered":"Recent stock broker recommendations"},"content":{"rendered":"<p>In a dynamic market scenario, many stocks find themselves on the radar of brokerages, whose analysts do a detailed analysis of past performance as well as gauge future potential. We track stocks that have been covered by brokerages over the last few weeks and what are the key highlights of each report and the reasons for choosing these stocks. This week we bring you highlights from two stocks covered by brokerage houses viz, Axis Bank and Phoenix Mill.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#Axis_Bank\" title=\"Axis Bank\">Axis Bank<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#Brokers_Call\" title=\"Broker\u2019s Call\">Broker\u2019s Call<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#ICICI_Securities_View_on_Axis_Bank\" title=\"ICICI Securities\u2019 View on Axis Bank-\">ICICI Securities\u2019 View on Axis Bank-<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#%E2%97%8F_Incremental_insights_from_annual_report\" title=\"\u25cf Incremental insights from annual report:\">\u25cf Incremental insights from annual report:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#%E2%97%8F_Income_Increase\" title=\"\u25cf Income Increase:\">\u25cf Income Increase:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#Sharekhan_View_on_Axis_Bank\" title=\"Sharekhan\u2019 View on Axis Bank\">Sharekhan\u2019 View on Axis Bank<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#%E2%97%8F_Improved_NIM_over_the_medium\" title=\"\u25cf Improved NIM over the medium\">\u25cf Improved NIM over the medium<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#%E2%97%8F_Accelerated_technological_Investment\" title=\"\u25cf Accelerated technological Investment\">\u25cf Accelerated technological Investment<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#Ventura_View_on_Axis_Bank\" title=\"Ventura\u2019 View on Axis Bank\">Ventura\u2019 View on Axis Bank<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#Phoenix_Mill\" title=\"Phoenix Mill\">Phoenix Mill<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#Brokers_Call-2\" title=\"Broker\u2019s Call\">Broker\u2019s Call<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#ICICI_Securities_View_on_Phoenix_Mills\" title=\"ICICI Securities\u2019 View on Phoenix Mills-\">ICICI Securities\u2019 View on Phoenix Mills-<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#%E2%97%8F_Rental_Income_CAGR_of_14_over_FY20-25E\" title=\"\u25cf Rental Income CAGR of 14% over FY20-25E\">\u25cf Rental Income CAGR of 14% over FY20-25E<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#%E2%97%8F_Rental_Collections_see_further_QoQ_traction\" title=\"\u25cf Rental Collections see further QoQ traction\">\u25cf Rental Collections see further QoQ traction<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#HDFC_Securities_View_on_Phoenix_Mills\" title=\"HDFC Securities\u2019 View on Phoenix Mills\">HDFC Securities\u2019 View on Phoenix Mills<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#%E2%97%8F_Robust_Liquidity_Position\" title=\"\u25cf Robust Liquidity Position\">\u25cf Robust Liquidity Position<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/recent-broker-recommendations\/#About_the_Author\" title=\"About the Author\">About the Author<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Axis_Bank\"><\/span><strong>Axis Bank<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The first new private bank to start operating in 1994 after the Government of India permitted new private banks to be created was Axis Bank, which was founded in 1993. It carries out cash and credit management services, retail banking, investment management and treasury services amongst others.<\/p>\n<p>The Bank is dedicated to using the finest industry processes globally in order to achieve excellence and has strengths in both retail and corporate banking. Axis Bank is one of the three organisations that the RBI has given permission to establish the Trade Receivables Discounting System (TReDS), an electronic platform that facilitates financial flows for MSMEs.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Brokers_Call\"><\/span>Broker\u2019s Call<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table>\n<tbody>\n<tr>\n<td width=\"169\">CMP today 08 July 22<\/td>\n<td colspan=\"3\" width=\"441\">Rs 660<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">Broker House<\/td>\n<td width=\"151\">ICICI Securities<\/td>\n<td width=\"159\">Sharekhan<\/td>\n<td width=\"132\">Venture<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">Report date<\/td>\n<td width=\"151\">02-July-22<\/td>\n<td width=\"159\">20-June-22<\/td>\n<td width=\"132\">02-May-22<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">CMP on Report date<\/td>\n<td width=\"151\">645<\/td>\n<td width=\"159\">636<\/td>\n<td width=\"132\">671<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">Target (INR)<\/td>\n<td width=\"151\">1050<\/td>\n<td width=\"159\">940<\/td>\n<td width=\"132\">901.1<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">Upside Potential<\/td>\n<td width=\"151\">+62%<\/td>\n<td width=\"159\">+47%<\/td>\n<td width=\"132\">+34.3%<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">Gain\/Loss% since Report<\/td>\n<td width=\"151\"><strong>\u00a0<\/strong><\/p>\n<p>+2.3%<\/td>\n<td width=\"159\"><strong>\u00a0<\/strong><\/p>\n<p>+6.6%<\/td>\n<td width=\"132\"><strong>\u00a0<\/strong><\/p>\n<p>-1.6%<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">Time Period<\/td>\n<td width=\"151\">12 Months<\/td>\n<td width=\"159\">12 Months<\/td>\n<td width=\"132\">24 Months<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span class=\"ez-toc-section\" id=\"ICICI_Securities_View_on_Axis_Bank\"><\/span>ICICI Securities\u2019 View on Axis Bank-<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h4><span class=\"ez-toc-section\" id=\"%E2%97%8F_Incremental_insights_from_annual_report\"><\/span><strong>\u25cf Incremental insights from annual report:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>The transition and integration process for Citi&#8217;s consumer business in India is moving along smoothly and is still on schedule. The transaction is anticipated to close in Q4 of FY23, and full integration will follow in 18 months. 19 significant transformative initiatives are moving forward with the GPS strategy implementation. Focused industries including mid-corporate, commercial banking (CBG), and MNC had YoY growth of 45%, 26%, and 49%, respectively. New to bank SME business book increased by 53%, and CBG segment was used to source roughly 20% of premium<br \/>\nBurgundy Private and Burgundy accounts.<\/p>\n<p>&nbsp;<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-11259 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/07\/11111.jpg\" alt=\"\" width=\"804\" height=\"448\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/11111.jpg 804w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/11111-300x167.jpg 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/11111-768x428.jpg 768w\" sizes=\"(max-width: 804px) 100vw, 804px\" \/><\/p>\n<h4><span class=\"ez-toc-section\" id=\"%E2%97%8F_Income_Increase\"><\/span><strong>\u25cf Income Increase:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>The bank&#8217;s fee income from retail banking was 64 percent (up from 62 percent in FY21). Granular fees for third-party distribution at Axis Bank increased by 29 percent year over year, with costs associated with investments and insurance increasing by 48 and 22 percent, respectively. Retail card fees made up 22% and retail non-card fees made up 42% of the fee income, respectively.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Sharekhan_View_on_Axis_Bank\"><\/span>Sharekhan\u2019 View on Axis Bank<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h4><span class=\"ez-toc-section\" id=\"%E2%97%8F_Improved_NIM_over_the_medium\"><\/span>\u25cf Improved NIM over the medium<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>The start of the rate hike cycle will help floating rate loans to reprice faster, while liabilities are expected to reprice with lag and with less quantum. They also expect improvement in the net interest margin over the medium term, which will be driven by a loan growth skewed towards higher yield segment; b. improved low-cost granular deposit base; and c. reduced share of low yielding RIDF bonds (at 3.54% of total assets in FY2022, down from 4.75%). NIM would, however, only be slightly impacted by the CRR increase.<\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-11260 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/07\/22222.png\" alt=\"\" width=\"684\" height=\"466\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/22222.png 684w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/22222-300x204.png 300w\" sizes=\"(max-width: 684px) 100vw, 684px\" \/><\/p>\n<h4><span class=\"ez-toc-section\" id=\"%E2%97%8F_Accelerated_technological_Investment\"><\/span>\u25cf Accelerated technological Investment<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>The bank keeps up a sizable investment in developing digital and cutting-edge IT capabilities. The bank is also spending money on necessary talent. With a greater emphasis on cutting-edge technical talents over the past two years, the bank&#8217;s IT staff has risen in size by 75%. Nearly the previous two years, the total amount spent on technology has increased by over two times, weighing down on profitability and core PPOP growth.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Ventura_View_on_Axis_Bank\"><\/span>Ventura\u2019 View on Axis Bank<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\u25cf Between FY21 and FY24E, they anticipate a 12.5 percent CAGR in loan growth. Between FY18 and FY21, Axis&#8217; loan book grew at a 12.4 percent CAGR. Given the assumption of calibrated lending, They have not forecast any acceleration in loan book growth over the historical rate. They expect the loan book to grow at a 12.5% CAGR over FY21-24E to INR 8,87,733.8 cr driven by: 14.9% CAGR in retail loans, 15.8% CAGR in SME loans, 7.4% CAGR in Corporate Loans<\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-11262 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/07\/333333.jpg\" alt=\"\" width=\"777\" height=\"292\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/333333.jpg 777w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/333333-300x113.jpg 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/333333-768x289.jpg 768w\" sizes=\"(max-width: 777px) 100vw, 777px\" \/><\/p>\n<p>\u25cf They expect the credit to total deposits ratio to stay at 70% with the overall share of CASA expected to touch 43.0% of total deposits in FY24. They expect a mix of customer deposits and borrowings to stay at ~81% (as against 83% seen in FY21).<\/p>\n<h2><strong><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11263 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/07\/444444.jpg\" alt=\"\" width=\"619\" height=\"374\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/444444.jpg 619w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/444444-300x181.jpg 300w\" sizes=\"(max-width: 619px) 100vw, 619px\" \/><\/strong><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"Phoenix_Mill\"><\/span><strong>Phoenix Mill<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Phoenix Mills Ltd. operates and manages malls in India as well as builds commercial and residential real estate and operates hotels. The Company has a portfolio made up of over 17.5 million square feet of retail, residential, commercial, and hotel properties distributed over more than 100 acres of land.<\/p>\n<p>Phoenix Mills Ltd. was established in 1905. In 2001, they debuted the &#8220;Big Bazaar,&#8221; India&#8217;s first hypermarket idea, on High Street Phoenix. The company began their operations as a textile manufacturing company on 17.3 acres of land at Lower Parel in Mumbai, which is now converted to a mall, hotel and other mixed use development.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Brokers_Call-2\"><\/span>Broker\u2019s Call<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table>\n<tbody>\n<tr>\n<td width=\"169\"><strong>\u00a0<\/strong><\/p>\n<p>CMP today 08 July 22<\/td>\n<td colspan=\"2\" width=\"309\"><strong>\u00a0<\/strong><\/p>\n<p>Rs 1200<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">Broker House<\/td>\n<td width=\"151\">ICICI Securities<\/td>\n<td width=\"159\">HDFC Securities<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">Report date<\/td>\n<td width=\"151\">07-July-22<\/td>\n<td width=\"159\">25-May-22<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">CMP on Report date<\/td>\n<td width=\"151\">1184<\/td>\n<td width=\"159\">1101<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">Target (INR)<\/td>\n<td width=\"151\">1392<\/td>\n<td width=\"159\">1364<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">Upside Potential<\/td>\n<td width=\"151\">+17.5%<\/td>\n<td width=\"159\">+23.8%<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">Gain\/Loss% since Report<\/td>\n<td width=\"151\"><strong>\u00a0<\/strong><\/p>\n<p>+1.3%<\/td>\n<td width=\"159\"><strong>\u00a0<\/strong><\/p>\n<p>+8.9%<\/td>\n<\/tr>\n<tr>\n<td width=\"169\">Time Period<\/td>\n<td width=\"151\">12 Months<\/td>\n<td width=\"159\">12 Months<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span class=\"ez-toc-section\" id=\"ICICI_Securities_View_on_Phoenix_Mills\"><\/span>ICICI Securities\u2019 View on Phoenix Mills-<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h4><span class=\"ez-toc-section\" id=\"%E2%97%8F_Rental_Income_CAGR_of_14_over_FY20-25E\"><\/span>\u25cf Rental Income CAGR of 14% over FY20-25E<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>By FY26E, Phoenix will have almost 13 million square feet of operational mall space, representing an estimated 14 % CAGR in rental income ). They anticipate Phoenix Mill to see a 14% CAGR in rental income (ex-new Kolkata asset) from FY20 to FY25, translating to Rs19.5 billion in rental income in FY25E compared to around Rs10 billion in FY20. Phoenix&#8217;s share of the Rs19.5bn in gross rental income in FY25E is 76%, or Rs14.8bn.<\/p>\n<p>&nbsp;<\/p>\n<h4><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11258 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/07\/5555.png\" alt=\"\" width=\"760\" height=\"427\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/5555.png 760w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/5555-300x169.png 300w\" sizes=\"(max-width: 760px) 100vw, 760px\" \/><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"%E2%97%8F_Rental_Collections_see_further_QoQ_traction\"><\/span>\u25cf Rental Collections see further QoQ traction<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Additional QoQ growth is shown in rental collections: According to the firm, 95% of retailers returned to the pre-Covid minimum guarantee rents as of January 22, resulting in Q4FY22 retail EBITDA of Rs2.5 billion (or 96% of pre-Covid levels) and FY22 retail EBITDA of Rs8.0 billion (72% of pre-Covid levels). Retail rental collections (including CAM) climbed by 10% QoQ to Rs5.3 billion in Q1FY23, while Phoenix Palladium added 0.15 million square feet of new gross leasable area during the same period.<\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11261 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/07\/66666.jpg\" alt=\"\" width=\"842\" height=\"330\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/66666.jpg 842w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/66666-300x118.jpg 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/07\/66666-768x301.jpg 768w\" sizes=\"(max-width: 842px) 100vw, 842px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"HDFC_Securities_View_on_Phoenix_Mills\"><\/span>HDFC Securities\u2019 View on Phoenix Mills<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h4><span class=\"ez-toc-section\" id=\"%E2%97%8F_Robust_Liquidity_Position\"><\/span>\u25cf Robust Liquidity Position<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Consolidated gross debt was INR 43.8 billion, up from INR 43 billion as of December 21. The rise was brought on by the repayment of construction debt for the malls in Ahmedabad and Indore. The average cost of debt decreased from 7.61 percent in December 21 to 7.30 percent on a quarterly basis. With an unused OD of INR 6.2 billion, the group&#8217;s liquidity was at INR 25 billion. A further 30% of the debt has to be refinanced, leaving a total of 55% that has already been done.<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"About_the_Author\"><\/span>About the Author<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Ketan Sonalkar (SEBI Rgn No INA000011255)<\/p>\n<p>Ketan Sonalkar is a certified SEBI registered investment advisor and head of research at <a href=\"https:\/\/univest.in\/\">Univest<\/a>. He is one of the finest financial trainers, with a track record of having trained more than 2000 people in offline and online models. He serves as a consultant advisor to leading fintech and financial data firms. He has over 15 years of working experience in the finance field. He runs Advisory Services for Direct Equities and Personal Finance Transformation.<\/p>\n<p><em>Note \u2013 This channel is for educational and training purpose only &amp; any stock mentioned here should not be taken as a tip\/recommendation\/advice<\/em><\/p>\n<p><em>You may also like: <strong><a href=\"https:\/\/univest.in\/q1fy23-expectations-from-different-sectors-in-the-indian-stock-market\/\">Different sectors in the Indian stock market<\/a><\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a dynamic market scenario, many stocks find themselves on the radar of brokerages, whose analysts do a detailed analysis of past performance as well as gauge future potential. We track stocks that have been covered by brokerages over the last few weeks and what are the key highlights of each report and the reasons<\/p>\n","protected":false},"author":6,"featured_media":26917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[140,138,139],"class_list":["post-11251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-axis-bank-share","tag-broker-recommendations","tag-phoenix-mills-share"],"metadata":{"_schema_ref":["11166"],"_edit_lock":["1665650343:8"],"_edit_last":["8"],"_nectar_gallery_slider":["off"],"_nectar_quote_author":[""],"_nectar_quote":[""],"_nectar_link":[""],"_nectar_video_m4v":[""],"_nectar_video_ogv":[""],"_nectar_video_poster":[""],"_nectar_video_embed":[""],"_nectar_audio_mp3":[""],"_nectar_audio_ogg":[""],"_post_item_masonry_sizing":["regular"],"_nectar_header_bg":[""],"_nectar_header_parallax":["off"],"_nectar_header_bg_height":[""],"_nectar_page_header_bg_alignment":["top"],"_nectar_header_bg_color":[""],"_nectar_header_font_color":[""],"_wpb_vc_js_status":["false"],"_yoast_wpseo_content_score":["60"],"_yoast_wpseo_estimated-reading-time-minutes":["7"],"nectar_blog_post_view_count":["326"],"_thumbnail_id":["26917"],"_yoast_wpseo_focuskw":["stock broker recommendations"],"_yoast_wpseo_title":["Recent stock broker recommendations"],"_yoast_wpseo_metadesc":["In a dynamic market scenario, many stocks find themselves on radar of brokerages, whose analysts do detailed analysis of past performance..."],"_yoast_wpseo_linkdex":["64"],"_yoast_wpseo_primary_category":["24"],"_schema_json":["a:13:{s:8:\"@context\";s:19:\"https:\/\/schema.org\/\";s:5:\"@type\";s:11:\"BlogPosting\";s:16:\"mainEntityOfPage\";a:2:{s:5:\"@type\";s:7:\"WebPage\";s:3:\"@id\";s:49:\"https:\/\/univest.in\/recent-broker-recommendations\/\";}s:3:\"url\";s:49:\"https:\/\/univest.in\/recent-broker-recommendations\/\";s:8:\"headline\";s:35:\"Recent stock broker recommendations\";s:13:\"datePublished\";s:25:\"2022-07-11T13:55:29+05:30\";s:12:\"dateModified\";s:25:\"2022-07-11T16:19:16+05:30\";s:9:\"publisher\";a:4:{s:5:\"@type\";s:12:\"Organization\";s:3:\"@id\";s:32:\"https:\/\/univest.in\/#organization\";s:4:\"name\";s:7:\"Univest\";s:4:\"logo\";a:4:{s:5:\"@type\";s:11:\"ImageObject\";s:3:\"url\";s:62:\"https:\/\/univest.in\/wp-content\/uploads\/2022\/06\/Univest-Logo.png\";s:5:\"width\";i:600;s:6:\"height\";i:60;}}s:5:\"image\";a:4:{s:5:\"@type\";s:11:\"ImageObject\";s:3:\"url\";s:68:\"https:\/\/univest.in\/wp-content\/uploads\/2022\/07\/Untitled-design-26.jpg\";s:5:\"width\";i:1280;s:6:\"height\";i:720;}s:14:\"articleSection\";s:6:\"Market\";s:8:\"keywords\";s:60:\"axis bank share, broker recommendations, phoenix mills share\";s:11:\"description\";s:287:\"In a dynamic market scenario, many stocks find themselves on the radar of brokerages, whose analysts do a detailed analysis of past performance as well as gauge future potential. We track stocks that have been covered by brokerages over the last few weeks and what are the key highlights\";s:6:\"author\";a:4:{s:5:\"@type\";s:6:\"Person\";s:4:\"name\";s:14:\"Avneet Dhamija\";s:3:\"url\";s:33:\"https:\/\/univest.in\/author\/avneet\/\";s:5:\"image\";a:4:{s:5:\"@type\";s:11:\"ImageObject\";s:3:\"url\";s:81:\"https:\/\/secure.gravatar.com\/avatar\/4b244dec68772ad327eead8f5575ec8f?s=96&d=mm&r=g\";s:6:\"height\";i:96;s:5:\"width\";i:96;}}}"],"_schema_json_timestamp":["1661765652"],"_yoast_wpseo_wordproof_timestamp":[""],"rank_math_primary_category":["24"],"rank_math_title":["Recent stock broker recommendations"],"rank_math_description":["In a dynamic market scenario, many stocks find themselves on radar of brokerages, whose analysts do detailed analysis of past performance..."],"rank_math_focus_keyword":["stock broker 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