EVENTS:   Best Equity Short Ideas Conference Call 12 - Zach Shannon/Corto Capital Advisors & Craig Huber/Huber Research Partners & Thomas Beevers /Forensic Alpha & Ed Steele/Iron Blue Financials & Bill Campbell/Paragon Intel - 12 Nov 25   Will AI Deflate the World? Macro Lessons from Three Industrial Revolutions and China - Manoj Pradhan/Talking Heads Macro - 13 Nov 25     ROADSHOWS: Forest Products Sector Equity and Commodity Research With Expertise in Distressed Debt - Kevin Mason /ERA Research   •   London   12 - 14 Nov 25       Buyside to Buyside Forum and Expert Calls across TMT, Consumer, Healthcare and Fintech - Andrew Peters /Revelare Partners   •   London   17 - 19 Nov 25       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   17 - 19 Nov 25      

Fortnightly Publication Highlighting Latest Insights From IRF Providers

Company Research

PNB Housing Finance (PNBHOUSI IN) India

Financials

India Independent Insight

Iii’s interactions with DSAs (Direct Selling Agents) raises alarms with regards to the company’s lending practices especially in the affordable housing segment. While affordable housing as a total book may be small, Iii anticipates pressure on NIMs and growth. Recent regulatory actions involving companies like Kotak, IIFL and Paytm have resulted in substantial declines in their respective stock prices.

Edition: 185

- 03 May, 2024