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.

Equity Bottom-Up

<ul><li>We recently interacted with Campus Activewear’s management</li><li>Our key takeaways from the interaction: (1) assortment continues to get more relevant and focused (now offers ~300 designs vs 500 two years back, top 60-70 designs contribute 50-60% of volumes), (2) bigger bets are being taken on faster-moving sub-categories like sneakers and there is greater focus on open footwear to earn volumes (15% of sales), (3) the issue of channel conflicts is behind (all channels now enjoy fair margins)</li><li>While internal operations have been streamlined (multiple territories consolidated, distribution team strengthened, product portfolio beefed up and new sales channels added), the company is now waiting for the macro to line up from a demand point of view.</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 recently interacted with Campus Activewear’s managementOur key takeaways from the interaction: (1) assortment continues to get more relevant and focused (now offers ~300 designs vs 500 two years back, top 60-70 designs contribute 50-60% of volumes), (2) bigger bets are being taken on faster-moving sub-categories like sneakers and there is greater focus on open footwear to earn volumes (15% of sales), (3) the issue of channel conflicts is behind (all channels now enjoy fair margins)While internal operations have been streamlined (multiple territories consolidated, distribution team strengthened, product portfolio beefed up and new sales channels added), the company is now waiting for the macro to line up from a demand point of view.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.

Campus Activewear: Healing and Awaiting a Favourable Macro Environment. NOT RATED

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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

Alibaba Group Holding  / Equity Capital Markets

<ul>
<li>2022 marked our seventh year covering Equity Capital Markets (ECM) in Asia Pacific. 2022 was rather quiet ending with us covering one of the lowest number of IPOs and placements.</li>
<li>We ended 2022 with an accuracy rate of 74.6% across 55 IPOs that we covered and 70.5% across 78 placements. </li>
<li>For those not familiar with our coverage, we aim to cover all IPOs and placements with a minimum deal size of US$100m across Asia-Pacific, including China ADRs.</li>
</ul>


2022 marked our seventh year covering Equity Capital Markets (ECM) in Asia Pacific. 2022 was rather quiet ending with us covering one of the lowest number of IPOs and placements.
We ended 2022 with an accuracy rate of 74.6% across 55 IPOs that we covered and 70.5% across 78 placements. 
For those not familiar with our coverage, we aim to cover all IPOs and placements with a minimum deal size of US$100m across Asia-Pacific, including China ADRs.


Aequitas 2022 IPOs and Placements Performance Review - From the Busiest Year to the Slowest Year

Thematic (Sector/Industry)

<ul><li>We recently interacted with numerous store managers and companies to assess the festive performance and demand in discretionary categories</li><li>Despite a promising start to the festive season, most categories (excluding jewellery and travel) seem to have hit the snooze button</li><li>Several factors contribute to this, including (1) the normalisation of ticket sizes and purchase frequencies, (2) weak footfalls (on a per sq foot basis), and (3) a trend towards downtrading</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 recently interacted with numerous store managers and companies to assess the festive performance and demand in discretionary categoriesDespite a promising start to the festive season, most categories (excluding jewellery and travel) seem to have hit the snooze buttonSeveral factors contribute to this, including (1) the normalisation of ticket sizes and purchase frequencies, (2) weak footfalls (on a per sq foot basis), and (3) a trend towards downtradingContent 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.

Festive temperature check: Festive mood sombre

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

<ul>
<li>The Indian Market (~$4 trillion) has now overtaken Hong Kong as the 4th most-valued stock market after the US, China, and Japan. </li>
<li>We recently concluded an exploratory trip to Patna, the capital, and also the largest city of the state of Bihar, Summarized thoughts on companies focused in this insight. </li>
<li>Multiple stocks covered in the Insight. The future of <a href="https://www.smartkarma.com/entities/easy-trip-planners-ltd" target="_blank" data-smartkarma-citation="entities:34149:1" rel="noopener">Easy Trip Planners (EASEMYTR IN)</a>, especially if it's banking on franchisee expansion, could go the other way around.</li>
</ul>


The Indian Market (~$4 trillion) has now overtaken Hong Kong as the 4th most-valued stock market after the US, China, and Japan. 
We recently concluded an exploratory trip to Patna, the capital, and also the largest city of the state of Bihar, Summarized thoughts on companies focused in this insight. 
Multiple stocks covered in the Insight. The future of Easy Trip Planners (EASEMYTR IN), especially if it's banking on franchisee expansion, could go the other way around.


[Week 14] Namaste India 🙏 | EASEMYTR IN | Easy Trip's Ghost Franchise?

<ul>
<li>Consumer sentiment is soft, but competition is limited for both <a href="https://www.smartkarma.com/entities/bata-india-ltd" target="_blank" data-smartkarma-citation="entities:3051:1" rel="noopener">Bata India Ltd (BATA IN)</a> and <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> </li>
<li>Bata enjoys good relationships with its distributors and franchisees, traction for offline sales channels is strong.</li>
<li>Campus is in an aggressive expansion mode, with leadership in the sports shoe segment driving sales.</li>
</ul>


Consumer sentiment is soft, but competition is limited for both Bata India Ltd (BATA IN) and Campus Activewear (CAMPUS IN) 
Bata enjoys good relationships with its distributors and franchisees, traction for offline sales channels is strong.
Campus is in an aggressive expansion mode, with leadership in the sports shoe segment driving sales.


India Channel Insight #46 | Bata India, Campus Activewear

India

Campus Activewear Limited retails foot ware products. The Company operates an on line platform that offers variety of shoes for men, women, and kids. Campus Activewear serves customers in India.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Campus Activewear (CAMPUS IN)

Campus Activewear: Healing and Awaiting a Favourable Macro Environment. NOT RATED

Our key takeaways from the interaction: (1) assortment continues to get more relevant and focused (now offers ~300 designs vs 500 two years back,...

HDFC Securities

Aequitas 2022 IPOs and Placements Performance Review - From the Busiest Year to the Slowest Year

2022 marked our seventh year covering Equity Capital Markets (ECM) in Asia Pacific. 2022 was rather quiet ending with us covering one of the lowest...

Sumeet Singh

Festive temperature check: Festive mood sombre

We recently interacted with numerous store managers and companies to assess the festive performance and demand in discretionary categories

HDFC Securities

[Week 14] Namaste India 🙏 | EASEMYTR IN | Easy Trip's Ghost Franchise?

Indian stock market surpasses Hong Kong to become the 4th most valuable market. Insight on Easy Trip Planners suggests franchisee expansion may...

Pranav Bhavsar

India Channel Insight #46 | Bata India, Campus Activewear

We interacted with Bata's Franchise owner and Campus Distributor with the objective to understand the competitive intensity, distributor relations...

Pranav Bhavsar

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Campus Activewear: Healing and Awaiting a Favourable Macro Environment. NOT RATED

Our key takeaways from the interaction: (1) assortment continues to get more relevant and focused (now offers ~300 designs vs 500 two years back,...

HDFC Securities

Aequitas 2022 IPOs and Placements Performance Review - From the Busiest Year to the Slowest Year

2022 marked our seventh year covering Equity Capital Markets (ECM) in Asia Pacific. 2022 was rather quiet ending with us covering one of the lowest...

Sumeet Singh

Festive temperature check: Festive mood sombre

We recently interacted with numerous store managers and companies to assess the festive performance and demand in discretionary categories

HDFC Securities

[Week 14] Namaste India 🙏 | EASEMYTR IN | Easy Trip's Ghost Franchise?

​Indian stock market surpasses Hong Kong to become the 4th most valuable market. Insight on Easy Trip Planners suggests franchisee expansion may...

Pranav Bhavsar

India Channel Insight #46 | Bata India, Campus Activewear

We interacted with Bata's Franchise owner and Campus Distributor with the objective to understand the competitive intensity, distributor relations...

Pranav Bhavsar

Indian stock market surpasses Hong Kong to become the 4th most valuable market. Insight on Easy Trip Planners suggests franchisee expansion may...