Many global brokerage firms have released reports today after the second quarter updates and other news. These stocks are Federal Bank, AU Small Finance Bank, Bandhan Bank, Macrotech Developers, HDFC Bank, L&T Finance, IndusInd Bank, M&M Finance and Sun Pharma. Let us know further what is the opinion of analysts on these.

Nomura's View on Federal Bank
: Buy
Target: ₹240 per share
 

• Q2 update: Loan growth strong, deposit growth subdued quarterly
• CASA growth flat on quarterly basis, though moderated year-on-year
• CASA ratio improved by 76 basis points quarterly

Nomura's opinion on AU Small Finance Bank
: Opinion: Neutral
Target: ₹650 per share
 

• Q2 update indicates strength in loan and deposit growth
• Loan to deposit ratio fell 570 basis points quarterly to 87.5%
• Strong growth in CASA deposits, CASA ratio at 32.4%

Nomura's opinion on Bandhan Bank
Opinion: Reduce
Target: ₹ 170 per share
 

• Deposit growth strong in second quarter, while collection efficiency declines
• Loan to deposit ratio fell 260 basis points to 91.7%
• Collection efficiency in microfinance portfolio at 98.1%
• Collection efficiency in non-microfinance portfolio at 98.7%
• Overall collection efficiency dropped by 50 basis points to 98.2%

Jefferies View on Bandhan Bank
: Buy
Target: ₹240 per share
 

• Strong performance seen in second quarter business update
• Deposits grew 27% year-on-year, driven by bulk deposits' 58% growth
• Loan-to-deposit ratio fell 260 basis points to 92%, higher than other banks
• Decline in LDR may impact loan growth in the short term
• Clarification on CGFMU recovery and possible uptick due to new CEO

Nomura's View on Macrotech Developers
: Buy
Target: ₹ 1600 per share
 

• Business updates remain strong in the second quarter
• Pre-sales records best ever quarter
• The company is on track to achieve guidance for FY25
• Business development of ₹16,600 crore in the first half
• FY25 guidance on track to achieve Rs 21,000 crore business growth
• Net debt/equity is below the 0.5x threshold

Nomura's opinion on HDFC Bank
: Neutral
Target: ₹ 1720 per share
 

• Loan growth slowed down, quarterly deposits showed strong growth
• Deposits grew by 5%, gross loan growth remained flat
• Loan-to-deposit ratio declined 400 basis points quarter-on-quarter to 101%

Morgan Stanley's view on HDFC Bank
: Buy
Target: ₹1850 per share
 

• Deposit growth remained stable on a year-on-year basis
• Loan growth at 1.3% on quarterly basis
• Loan growth at 8% year-on-year
• LCR improved quarterly to 127% against 1273%

Morgan Stanley's opinion on L&T Finance
: Underweight
Target: ₹ 140 per share
 

• Retail loan growth normalised to 28% year-on-year
• Slowdown seen in micro & farm finance disbursement
• More details needed on margins, credit cost and asset quality in Q2
• Management's commentary on micro-loan figures will be monitored during the results

Morgan Stanley's opinion on IndusInd Bank
: Overweight
Target: ₹ 1690 per share
 

• Deposit growth remained stable, but loan growth was normal in the second quarter
• Retail deposit growth showed strength
• Margin progression and asset quality will be monitored in the second quarter

Jefferies Opinion on M&M Finance
: Hold
Target: ₹315 per share
 

• AUM growth normalized to 20% yoy in Q2
• Disbursement fell 1% year-on-year, impact of August-September
• Collection efficiency remained stable at 96% on a yearly basis
• Better visibility needed on RoA expansion for re-rating

UBS opinion on Sun Pharma
: Buy
Target: ₹2450 per share
 

• Specialty profits more than 30% in 3 years, re-rating possible
• Cash balance large and strong as FCF continues to strengthen in Specialty
• Good generic launches like Lanreotide and Tolvaptan in the pipeline