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

Motilal Oswal

External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<ul><li>BATA reported a healthy recovery in revenue, up 35% YoY and 15% from pre-COVID levels.</li><li>However, rising RM prices and higher ad spends pulled down PAT 23% below pre-COVID levels (33% miss).</li><li>The slower recovery from pre-COVID levels, the impact of inflation on consumers, and GST rate hikes are still affecting the Mass Consumer segment.</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.

BATA reported a healthy recovery in revenue, up 35% YoY and 15% from pre-COVID levels.However, rising RM prices and higher ad spends pulled down PAT 23% below pre-COVID levels (33% miss).The slower recovery from pre-COVID levels, the impact of inflation on consumers, and GST rate hikes are still affecting the Mass Consumer segment.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.

Bata India - Witnessing a Gradual Recovery

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.

<ul><li>Bata India (BATA) Q2FY23 topline was in line with our estimates with revenue of Rs 830 Cr, registering a growth of 35% YoY.</li><li>The growth was driven by improved consumer sentiments on account of regional campaigns planned for the festive season and higher realizations due to faster sneaker growth.</li><li>Gross Margins improved to 55% (up 209bps YoY), but down 163bps QoQ on account of raw material inflation.</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.

Bata India (BATA) Q2FY23 topline was in line with our estimates with revenue of Rs 830 Cr, registering a growth of 35% YoY.The growth was driven by improved consumer sentiments on account of regional campaigns planned for the festive season and higher realizations due to faster sneaker growth.Gross Margins improved to 55% (up 209bps YoY), but down 163bps QoQ on account of raw material inflation.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.

Bata India - Resilient Performance Amidst Challenging Times; Maintain BUY

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Campus Activewear / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/campus-activewear-ltd" target="_blank" data-smartkarma-citation="entities:35877:1" rel="noopener">Campus Activewear (CAMPUS IN)</a> was listed on 9th May, 2022, with its six-month lockup expiring today, 4th November 2022. </li>
<li>Campus Activewear is a lifestyle-oriented sports and athleisure footwear firm based in India. Operating under the “CAMPUS” brand, it offers a diverse portfolio of styles, color palettes, and price points.</li>
<li>Coming up for six-month lockup expiry are the pre-IPO investors and the Promoters, both of which had sold during the IPO.</li>
</ul>



Campus Activewear (CAMPUS IN) was listed on 9th May, 2022, with its six-month lockup expiring today, 4th November 2022. 
Campus Activewear is a lifestyle-oriented sports and athleisure footwear firm based in India. Operating under the “CAMPUS” brand, it offers a diverse portfolio of styles, color palettes, and price points.
Coming up for six-month lockup expiry are the pre-IPO investors and the Promoters, both of which had sold during the IPO.


Campus Activewear Lock-Up - Shares Have Nearly Doubled. Pre-IPO Investors Might Book Gains

Thematic (Sector/Industry)

<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), 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>Discretionary categories to clock another healthy quarter: Our discretionary universe is expected to grow by ~29% YoY (revenue) in Q2FY23 (3-year revenue/EBITDA CAGRs of 19/17% resp)</li><li>Ticket sizes in retail remain elevated, courtesy higher ASP vis-à-vis pre-pandemic levels</li><li>Footfalls density is normalising too; esp in categories/companies with a higher urban presence</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.

Discretionary categories to clock another healthy quarter: Our discretionary universe is expected to grow by ~29% YoY (revenue) in Q2FY23 (3-year revenue/EBITDA CAGRs of 19/17% resp)Ticket sizes in retail remain elevated, courtesy higher ASP vis-à-vis pre-pandemic levelsFootfalls density is normalising too; esp in categories/companies with a higher urban presenceContent 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.

Consumer Discretionary (Q2FY23 Results Preview): Expect a buoyant quarter; alas! bargains absent

India

Bata India Limited manufactures a wide range of leather, rubber/canvas and plastic footwear products.  The Company also manufactures sports apparel and leather accessories.  Bata India sells its products through its chain of company owned retail stores in India, as well as to businesses in the USA, United Kingdom, Europe, the Middle East and the Far East.

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Bata India Ltd (BATA IN)

Bata India - Witnessing a Gradual Recovery

BATA reported a healthy recovery in revenue, up 35% YoY and 15% from pre-COVID levels.However, rising RM prices and higher ad spends pulled down...

Motilal Oswal

Bata India - Resilient Performance Amidst Challenging Times; Maintain BUY

The growth was driven by improved consumer sentiments on account of regional campaigns planned for the festive season and higher realizations due...

Axis Direct

Campus Activewear Lock-Up - Shares Have Nearly Doubled. Pre-IPO Investors Might Book Gains

Campus Activewear (CAMPUS IN) was listed on 9th May, 2022, with its six-month lockup expiring today, 4th Nov 2022. Coming up for six-month lockup...

Clarence Chu

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

Consumer Discretionary (Q2FY23 Results Preview): Expect a buoyant quarter; alas! bargains absent

Our discretionary universe is expected to grow by ~29% YoY (revenue) in Q2FY23 (3-year revenue/EBITDA CAGRs of 19/17% resp)

HDFC Securities

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