External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Glenmark Pharmaceuticals / Equity Bottom-Up

Glenmark Pharmaceuticals Ltd., is a pharmaceutical company. The Company develops generic drugs for inflammation, metabolic disorders, and pain.

<ul><li>We visited the company’s head office to gain insights into its vision and growth prospects.</li><li>The company is projected to outpace IPM growth by 1.5x in FY25, with a 15% CAGR expected in the topline between FY25-27.</li><li>It has signed an MoU with Pfizer and BeiGene for various formulations in India. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We visited the company’s head office to gain insights into its vision and growth prospects.The company is projected to outpace IPM growth by 1.5x in FY25, with a 15% CAGR expected in the topline between FY25-27.It has signed an MoU with Pfizer and BeiGene for various formulations in India. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Glenmark Pharmaceuticals Ltd - Glenmark Pharmaceuticals Limited - Management Meet

Shriram Finance Limited provides consumer finance services. The Company offers automobile, commercial vehicle, business, and gold loan services. Shriram Finance serves customers in India.

<ul><li>We initiate coverage on Shriram Finance Ltd (SFL) with a BUY recommendation and a target price of Rs 3,825/share, implying an upside of 30% from the CMP.</li><li>Born out of the merger of Shriram Transport Finance (SHTF), a pioneer in used CV financing and Shriram City Union Finance (SCUF), a diversified retail-focused NBFC – ‘Shriram Finance (SFL)’ is the flagship company of the Shriram Group.</li><li>The company provides lending services from its diversified product suite. It has been able to deliver strong AUM growth of ~20% CAGR over the 2 years post-merger, while continuously improving asset quality. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We initiate coverage on Shriram Finance Ltd (SFL) with a BUY recommendation and a target price of Rs 3,825/share, implying an upside of 30% from the CMP.Born out of the merger of Shriram Transport Finance (SHTF), a pioneer in used CV financing and Shriram City Union Finance (SCUF), a diversified retail-focused NBFC – ‘Shriram Finance (SFL)’ is the flagship company of the Shriram Group.The company provides lending services from its diversified product suite. It has been able to deliver strong AUM growth of ~20% CAGR over the 2 years post-merger, while continuously improving asset quality. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Shriram Finance Ltd - Merger Drives Less Cyclicity; More Stability!

<ul><li>We visited the company’s head office to gain insights into its vision and growth prospects.</li><li>The company is projected to outpace IPM growth by 1.5x in FY25, with a 15% CAGR expected in the topline between FY25-27.</li><li>It has signed an MoU with Pfizer and BeiGene for various formulations in India. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We visited the company’s head office to gain insights into its vision and growth prospects.The company is projected to outpace IPM growth by 1.5x in FY25, with a 15% CAGR expected in the topline between FY25-27.It has signed an MoU with Pfizer and BeiGene for various formulations in India. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Glenmark Pharmaceuticals Ltd - Management Meet

Flair Writing Industries  / Equity Bottom-Up

Flair Writing Industries Limited provides writing instruments. The Company offers various types of pens, markers, hi-lighters, and pencils. Flair Writing Industries serves customers in India.

<ul><li>The company hosted an analyst meet, outlining its vision and growth prospects.</li><li>It projected a topline growth of 10-11% for FY25, with a 15% CAGR anticipated between FY25-27.</li><li>Additionally, the company emphasized its expansion in the Creative and Steel Bottle segments as key growth drivers. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The company hosted an analyst meet, outlining its vision and growth prospects.It projected a topline growth of 10-11% for FY25, with a 15% CAGR anticipated between FY25-27.Additionally, the company emphasized its expansion in the Creative and Steel Bottle segments as key growth drivers. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Flair Writing Industries Ltd - - Analyst Meet

Privi Speciality Chemicals / Equity Bottom-Up

Privi Speciality Chemicals Limited manufactures, supplies, and exports specialty chemical products. The Company offers custom-made aroma and fragrance chemicals for various products such as soaps, shampoo, perfumes, toothpaste, cosmetics, cleaners, softners, candles, and repellents. Privi Speciality Chemicals serves customers worldwide.

<ul><li>We (along with a group of analysts and investors) visited Privi’s Mahad plant and interacted with the management on 13th December 2024.</li><li>The company’s facilities in Mahad are spread across an area of more than 60 acres, housed inside the industrial area (MIDC).</li><li>The company’s operations in Mahad are Zero Liquid Discharge (ZLD) facilities and have received an ISO 45001:2018 standard certification for Occupational Health &amp; Safety Management System (OHSMS). </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We (along with a group of analysts and investors) visited Privi’s Mahad plant and interacted with the management on 13th December 2024.The company’s facilities in Mahad are spread across an area of more than 60 acres, housed inside the industrial area (MIDC).The company’s operations in Mahad are Zero Liquid Discharge (ZLD) facilities and have received an ISO 45001:2018 standard certification for Occupational Health &amp; Safety Management System (OHSMS). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Privi Speciality Chemicals Ltd. - Site Visit - Key Takeaways