External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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.

Thematic (Sector/Industry)

<ul><li>The IT sector is expected to post a soft quarter, impacted by Q3 seasonality and worsening macro</li><li>The elements of macro volatility is resulting in growth moderating towards pre-COVID even as long-term drivers are unchanged</li><li>Recently, HCLT tweaked its FY23E guidance to the lower end, but Accenture maintained its FY23E growth guidance (outsourcing-led)</li></ul><p><em>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.</em></p>

The IT sector is expected to post a soft quarter, impacted by Q3 seasonality and worsening macroThe elements of macro volatility is resulting in growth moderating towards pre-COVID even as long-term drivers are unchangedRecently, HCLT tweaked its FY23E guidance to the lower end, but Accenture maintained its FY23E growth guidance (outsourcing-led)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.

Information Technology (Q3FY23E Results Preview): Growth and Valuations ‘normalising’

External broker reports(aggregated public sources), Axis Direct

Axis Direct

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

<ul><li>Accenture reported robust Q1FY23 numbers which stood in line with the street expectations.</li><li>Revenue for the quarter stood at $15.7 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of slowdown and increasing interest rates.</li><li>In line with the revenue growth, the company’s operating margins grew by 20bps to 16.5%. Its EPS for Q1FY23 stood at $3.08, up 17%, beating analyst estimates of $2.91. Accenture flagged a negative impact of ~9.5% on sales from a stronger dollar.</li></ul><p><em>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.</em></p>

Accenture reported robust Q1FY23 numbers which stood in line with the street expectations.Revenue for the quarter stood at $15.7 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of slowdown and increasing interest rates.In line with the revenue growth, the company’s operating margins grew by 20bps to 16.5%. Its EPS for Q1FY23 stood at $3.08, up 17%, beating analyst estimates of $2.91. Accenture flagged a negative impact of ~9.5% on sales from a stronger dollar.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.

Accenture - Results In-Line With Expectation; Guidance Below Expectations

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Capital Markets

Accenture Plc Cl A / Equity Capital Markets

<ul><li>Accenture delivered a good performance in its last result surpassing Wall Street expectations in terms of revenues as well as earnings.</li><li>The company’s revenues grew in local currency which was driven by double-digit growth across all industries, services, and markets.</li><li>The cloud business of Accenture performed well, with Cloud First being one of the big drivers of growth.</li></ul>

Accenture delivered a good performance in its last result surpassing Wall Street expectations in terms of revenues as well as earnings.The company’s revenues grew in local currency which was driven by double-digit growth across all industries, services, and markets.The cloud business of Accenture performed well, with Cloud First being one of the big drivers of growth.

Accenture plc: Acquisition of MacGregor Partners & Other Drivers

<div><div><div><div><ul><li>Accenture reported robust Q4FY22 numbers that were in line with the street expectations.</li><li>Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side constraints.</li><li>Operating margins grew by 10bps and stood at 17.4%. The company’s EPS for FY22 stood at $10.7, up 17% from the $9.16 it reported in FY21 and 22% from the adjusted EPS of $8.80 in FY21 (this excluded $0.36 in gains on an investment). </li></ul></div></div></div></div><p><em>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.</em></p>

Accenture reported robust Q4FY22 numbers that were in line with the street expectations.Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side constraints.Operating margins grew by 10bps and stood at 17.4%. The company’s EPS for FY22 stood at $10.7, up 17% from the $9.16 it reported in FY21 and 22% from the adjusted EPS of $8.80 in FY21 (this excluded $0.36 in gains on an investment). 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.

Accenture - Results In-Line With Expectation

<ul><li>In its last result, Accenture delivered robust overall results, reflecting strong double-digit revenue growth across all areas of its business and ongoing operating margin expansion due to its ongoing large-scale investments in its company.</li><li>Accenture continued with its acquisition-led growth approach and agreed to acquire The Stable.</li><li>In a nutshell, Accenture is in a unique position to support both its clients' growth objectives and cost-saving initiatives.</li></ul>

In its last result, Accenture delivered robust overall results, reflecting strong double-digit revenue growth across all areas of its business and ongoing operating margin expansion due to its ongoing large-scale investments in its company.Accenture continued with its acquisition-led growth approach and agreed to acquire The Stable.In a nutshell, Accenture is in a unique position to support both its clients' growth objectives and cost-saving initiatives.

Accenture Plc: Continued Bolt-On Acquisitions Strategy & Other Drivers

Ireland

Accenture PLC provides management and technology consulting services and solutions.  The Company delivers a range of specialized capabilities and solutions to clients across all industries on a worldwide basis.  Accenture's network of businesses provides consulting, technology, outsourcing, and alliances.

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Accenture Plc Cl A (ACN US)

Information Technology (Q3FY23E Results Preview): Growth and Valuations ‘normalising’

The elements of macro volatility is resulting in growth moderating towards pre-COVID even as long-term drivers are unchanged

HDFC Securities

Accenture - Results In-Line With Expectation; Guidance Below Expectations

Revenue for the quarter stood at $15.7 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of...

Axis Direct

Accenture plc: Acquisition of MacGregor Partners & Other Drivers

Accenture delivered a good performance in its last result surpassing Wall Street expectations in terms of revenues as well as earnings. The...

Baptista Research

Accenture - Results In-Line With Expectation

Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side...

Axis Direct

Accenture Plc: Continued Bolt-On Acquisitions Strategy & Other Drivers

In its last result, Accenture delivered robust overall results, reflecting strong double-digit revenue growth across all areas of its business and...

Baptista Research

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