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.

Thematic (Sector/Industry)

<ul><li>IT Services sector is expected to report strong growth in Q4FY22 primarily on account of the new large deal wins and a ramp-up of deals won in the previous quarter despite seasonality furloughs</li><li>IT spending in North America and Europe has gained momentum and demand for digital transformation has increased exponentially</li><li>Furthermore, improved macro-economic opportunities across the globe are expected to provide further growth impetus to the sector moving forward</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>

IT Services sector is expected to report strong growth in Q4FY22 primarily on account of the new large deal wins and a ramp-up of deals won in the previous quarter despite seasonality furloughsIT spending in North America and Europe has gained momentum and demand for digital transformation has increased exponentiallyFurthermore, improved macro-economic opportunities across the globe are expected to provide further growth impetus to the sector moving forwardContent 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.

IT: Supply-Side Constraints Persist; Demand Robust

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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>Affle India (Affle) is a technology platform that enables advertisers to do targeted advertising.</li><li>It helps advertisers to measure the effectiveness of advertisement as it charges only when a user downloads an app or completes a transaction</li><li>Target Price and Valuation: We value Affle at Rs 1,500 i.e. 67x P/E on FY24E EPS</li></ul><div class="content-highlight"><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></div>

Affle India (Affle) is a technology platform that enables advertisers to do targeted advertising.It helps advertisers to measure the effectiveness of advertisement as it charges only when a user downloads an app or completes a transactionTarget Price and Valuation: We value Affle at Rs 1,500 i.e. 67x P/E on FY24E EPSContent 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.

Affle India: Strong Growth in Converted Users

<ul>
<li>Affle Ltd. (Affle) reported a strong growth backed by robust device addition</li>
<li>The company's Q3FY21 revenue stood at Rs 339 Cr, up 23.6% QoQ and 125.5% YoY</li>
<li>We recommend a BUY on the stock and assign 49x P/E multiple to its FY24E earnings of Rs 29.46/share which gives a TP of Rs 1,450/share, implying an upside potential of 15% from CMP.</li>
</ul>
<div class="content-highlight"><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></div>


Affle Ltd. (Affle) reported a strong growth backed by robust device addition
The company's Q3FY21 revenue stood at Rs 339 Cr, up 23.6% QoQ and 125.5% YoY
We recommend a BUY on the stock and assign 49x P/E multiple to its FY24E earnings of Rs 29.46/share which gives a TP of Rs 1,450/share, implying an upside potential of 15% from CMP.

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.

Affle India: Growth Led by Robust Device Addition; Margin Profile to Improve

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Lvmh Moet Hennessy Louis Vuitton / Technical Analysis

<ul>
<li>Select regions such as the US, Europe, Japan, and India are bullish, while others are not -- namely Hong Kong and China.</li>
<li>Relative strength (RS) for MSCI ACWI Technology is breaking out to new highs while RS on the MSCI ACWI Discretionary Sector is on the cusp of a breakout. </li>
<li>We highlight several buy opportunities within global Technology and Consumer Discretionary.</li>
</ul>


Select regions such as the US, Europe, Japan, and India are bullish, while others are not -- namely Hong Kong and China.
Relative strength (RS) for MSCI ACWI Technology is breaking out to new highs while RS on the MSCI ACWI Discretionary Sector is on the cusp of a breakout. 
We highlight several buy opportunities within global Technology and Consumer Discretionary.


Add To Global Technology and Consumer Discretionary

<ul><li>Affle Ltd. (Affle) reported a strong recovery after a seasonally weak quarter. The company's Q2FY21 revenue stood at Rs 274 Cr, up 80.2% QoQ and 103.6% YoY</li><li>The management has guided for CAGR 25%-30% growth over the next five years in light of robust demand and rising mobile consumption</li><li>We recommend a BUY on the stock and assign 75x P/E multiple to its FY23E earnings of Rs 17.9/share which gives a TP of Rs 1,350/share</li></ul><div class="content-highlight"><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></div>

Affle Ltd. (Affle) reported a strong recovery after a seasonally weak quarter. The company's Q2FY21 revenue stood at Rs 274 Cr, up 80.2% QoQ and 103.6% YoYThe management has guided for CAGR 25%-30% growth over the next five years in light of robust demand and rising mobile consumptionWe recommend a BUY on the stock and assign 75x P/E multiple to its FY23E earnings of Rs 17.9/share which gives a TP of Rs 1,350/shareContent 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.

Affle India: Robust Recovery; Margin Profile to Improve

India

Affle (India) Limited operates as a technology company. The Company offers consumer intelligence platform that delivers consumer engagements, acquisitions, and transactions through mobile advertising, as well as platform aims to enhance returns on marketing investment through contextual mobile ads and also by reducing digital ad fraud. Affle (India) serves customers worldwide.

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Affle (India) Limited (AFFLE IN)

IT: Supply-Side Constraints Persist; Demand Robust

IT Services sector is expected to report strong growth in Q4FY22 primarily on account of the new large deal wins and a ramp-up of deals won in the...

Axis Direct

Affle India: Strong Growth in Converted Users

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general...

ICICI Securities Limited

Affle India: Growth Led by Robust Device Addition; Margin Profile to Improve

We recommend a BUY on the stock and assign 49x P/E multiple to its FY24E earnings of Rs 29.46/share which gives a TP of Rs 1,450/share, implying an...

Axis Direct

Add To Global Technology and Consumer Discretionary

Relative strength (RS) for MSCI ACWI Technology is breaking out to new highs while RS on the ACWI Discretionary Sector is on the cusp of a...

Vermilion Research

Affle India: Robust Recovery; Margin Profile to Improve

We recommend a BUY on the stock and assign 75x P/E multiple to its FY23E earnings of Rs 17.9/share which gives a TP of Rs 1,350/share, implying an...

Axis Direct

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