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>Axis Top Picks basket delivered impressive returns of 18%/19% in the last 6M/1YR respectively, outperforming the benchmark Index NIFTY 50 by an encouraging margin.</li><li>In Nov’22, the basket inched up further by 1%.</li><li>Furthermore, It has delivered an impressive return of 153% since its inception (May'20), which stands significantly higher than the 102% returns delivered by NIFTY 50 over the same period.</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.

Axis Top Picks basket delivered impressive returns of 18%/19% in the last 6M/1YR respectively, outperforming the benchmark Index NIFTY 50 by an encouraging margin.In Nov’22, the basket inched up further by 1%.Furthermore, It has delivered an impressive return of 153% since its inception (May'20), which stands significantly higher than the 102% returns delivered by NIFTY 50 over the same period.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.

Axis Top Picks for the Month of December 2022

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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.

<ul><li>Tata Motors: TTMT posted weak performance in Q2, both at JLR and in the India business</li><li>While JLR margin lagged expectations, domestic PV and CV margins also declined QoQ due to high input costs</li><li>Despite management’s best efforts, JLR debt has further increased to GBP8.2bn, from GBP7.6bn in Q4</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.

Tata Motors: TTMT posted weak performance in Q2, both at JLR and in the India businessWhile JLR margin lagged expectations, domestic PV and CV margins also declined QoQ due to high input costsDespite management’s best efforts, JLR debt has further increased to GBP8.2bn, from GBP7.6bn in Q4Content 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.

HSIE Results Daily: Tata Motors, Godrej Properties, Phoenix Mills, APL Apollo

Equity Bottom-Up

<ul><li>APL Apollo Tubes (APAT) results missed ours and the street's expectations on the margins front.</li><li>EBITDA/t at Rs 3,850/t (down 26%/16% YoY/QoQ) missed ours and streets estimate of ~Rs 4,400/t, due to 1) weaker sales mix (Rs 300/t impact) - commoditized sales contributing 45% of overall volumes vs 35-40% historically 2) Raipur (ABPL) currently breaking even as plant is still ramping up (Rs 100/t impact) and 3) Aggressive sales push to retain market share (Rs 337/t impact):</li><li>Company offered discounts to push sales as distributors were in de-stocking mode.</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.

APL Apollo Tubes (APAT) results missed ours and the street's expectations on the margins front.EBITDA/t at Rs 3,850/t (down 26%/16% YoY/QoQ) missed ours and streets estimate of ~Rs 4,400/t, due to 1) weaker sales mix (Rs 300/t impact) - commoditized sales contributing 45% of overall volumes vs 35-40% historically 2) Raipur (ABPL) currently breaking even as plant is still ramping up (Rs 100/t impact) and 3) Aggressive sales push to retain market share (Rs 337/t impact):Company offered discounts to push sales as distributors were in de-stocking mode.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.

APL Apollo Tubes - Destocking Dents EBITDA/T, Growth Levers Still Intact; Maintain BUY

<ul><li>Axis Top Picks basket delivered an encouraging return of 3% in Oct’22, outperforming the benchmark Index NIFTY 50 over the last three and six-month periods.</li><li>Furthermore, the basket has delivered an impressive return of 150% since its inception (May'20), which stands significantly higher than the 94% returns delivered by NIFTY 50 over the same period.</li><li>In view of this robust performance, we continue to believe in our thematic approach in our Top Picks selections.</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.

Axis Top Picks basket delivered an encouraging return of 3% in Oct’22, outperforming the benchmark Index NIFTY 50 over the last three and six-month periods.Furthermore, the basket has delivered an impressive return of 150% since its inception (May'20), which stands significantly higher than the 94% returns delivered by NIFTY 50 over the same period.In view of this robust performance, we continue to believe in our thematic approach in our Top Picks selections.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.

Top Picks -Earnings Commentary & The Direction of Dollar Index to Drive Market

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and 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.

<ul><li>APL Apollo Tubes (APAT)’s long-term growth story remains intact underpinned by growing application and rising consumption of structural steel tubes in residential &amp; commercial buildings, warehouses, factories, agriculture and other infrastructure works.</li><li>The industry, post-inventory destocking in the last quarter because of higher steel prices, is now witnessing channel re-stocking led by correction in steel prices.</li><li>From our channel checks, we sense the overall demand scenario to be better with channel re-stocking happening in anticipation of a stable or marginally higher steel price.</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.

APL Apollo Tubes (APAT)’s long-term growth story remains intact underpinned by growing application and rising consumption of structural steel tubes in residential &amp; commercial buildings, warehouses, factories, agriculture and other infrastructure works.The industry, post-inventory destocking in the last quarter because of higher steel prices, is now witnessing channel re-stocking led by correction in steel prices.From our channel checks, we sense the overall demand scenario to be better with channel re-stocking happening in anticipation of a stable or marginally higher steel price.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.

APL Apollo Tubes  - Robust Volume Growth Aided by Improving on the Ground Situation

India

APL Apollo Tubes Ltd. manufactures and exports galvanized steel tubes, galvanized steel pipes, and welded black pipes and tubes.

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Apl Apollo Tubes (APAT IN)

Axis Top Picks for the Month of December 2022

Axis Top Picks basket delivered impressive returns of 18%/19% in the last 6M/1YR respectively, outperforming the benchmark Index NIFTY 50 by an...

Axis Direct

HSIE Results Daily: Tata Motors, Godrej Properties, Phoenix Mills, APL Apollo

Tata Motors: TTMT posted weak performance in Q2, both at JLR and in the India business. While JLR margin lagged expectations, domestic PV and CV...

HDFC Securities

APL Apollo Tubes - Destocking Dents EBITDA/T, Growth Levers Still Intact; Maintain BUY

APL Apollo Tubes (APAT) results missed ours and the street's expectations on the margins front. EBITDA/t at Rs 3,850/t (down 26%/16% YoY/QoQ)...

Axis Direct

Top Picks -Earnings Commentary & The Direction of Dollar Index to Drive Market

Axis Top Picks - Nov 22Content is external broker report sourced from online content aggregator through publicly available sources and is displayed...

Axis Direct

APL Apollo Tubes - Robust Volume Growth Aided by Improving on the Ground Situation

The industry, post-inventory destocking in the last quarter because of higher steel prices, is now witnessing channel re-stocking led by correction...

Motilal Oswal

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