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)

<div><div><div><div><ul><li>In Q3FY23, the Pharma sector is expected to benefit from positive attributes such as currency depreciation, fall in raw material prices, low crude prices, and correction in shipping prices which would aid in revenue growth and improvement in gross margins.</li><li>We expect the Pharma universe under our coverage to report healthy aggregate Revenue/EBITDA/PAT growth of 7.4%/9.5%/9.1% YoY. 8% depreciation in the Indian currency (Rs) may majorly contribute to the overall growth of 7.4% for the last quarter.</li><li>Low single-digit growth in the US market (due to intense competition) and low double-digit growth in the India business after Covid-19 business has now stabilised. </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>

In Q3FY23, the Pharma sector is expected to benefit from positive attributes such as currency depreciation, fall in raw material prices, low crude prices, and correction in shipping prices which would aid in revenue growth and improvement in gross margins.We expect the Pharma universe under our coverage to report healthy aggregate Revenue/EBITDA/PAT growth of 7.4%/9.5%/9.1% YoY. 8% depreciation in the Indian currency (Rs) may majorly contribute to the overall growth of 7.4% for the last quarter.Low single-digit growth in the US market (due to intense competition) and low double-digit growth in the India business after Covid-19 business has now stabilised. 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.

Equity Bottom-Up

Dr. Reddy's Laboratories / Equity Bottom-Up

<div><div><div><div><ul><li>Dr Reddy’s Laboratories Ltd (DRREDDY) is a global pharmaceutical company committed to providing access to affordable and innovative medicines.</li><li>DRREDDY offers a portfolio of products and services including APIs, Generics, Branded Generics, Biosimilars, and OTC.</li><li>DRREDDY has major therapeutic areas of focus, which are gastrointestinal, cardiovascular, diabetology, oncology, pain management, and dermatology and major markets include – USA, India, Russia &amp; CIS countries, China, Brazil and Europe.</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>

Dr Reddy’s Laboratories Ltd (DRREDDY) is a global pharmaceutical company committed to providing access to affordable and innovative medicines.DRREDDY offers a portfolio of products and services including APIs, Generics, Branded Generics, Biosimilars, and OTC.DRREDDY has major therapeutic areas of focus, which are gastrointestinal, cardiovascular, diabetology, oncology, pain management, and dermatology and major markets include – USA, India, Russia &amp; CIS countries, China, Brazil and Europe.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.

Pick of the Week - Dr Reddy’s Laboratories Ltd

<ul><li>Dr Reddy Q2FY22 reported revenue growth of 9.4% YoY which stood above our expectations. </li><li>The growth was driven by the launch of gRevlimid in the US and sequential improvement in Russian sales, which was only partially offset by price erosion in the generic business.</li><li>The US sales of $354 Mn, comprising $125 Mn from gRevlimid, are expected to be on the lower side.</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>

Dr Reddy Q2FY22 reported revenue growth of 9.4% YoY which stood above our expectations. The growth was driven by the launch of gRevlimid in the US and sequential improvement in Russian sales, which was only partially offset by price erosion in the generic business.The US sales of $354 Mn, comprising $125 Mn from gRevlimid, are expected to be on the lower side.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.

Dr. Reddy’s Laboratories Ltd - New Launches to Add Growth and Profitability!

<ul><li>In Q2FY23, Pharma sector expected to be benefitted by factors like Currency depreciation, fall in raw material prices, low crude prices and correction in shipping prices could add to revenue growth and improvement in gross margins.</li><li>The Pharma universe under our coverage could report aggregate Revenue/EBITDA/PAT growth of 5.6%/-4.8%/-2.2% YoY.</li><li>Currency (Rs) has depreciated by 5.0% that could add major contribution to overall growth of 6.2% for last quarter.</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>

In Q2FY23, Pharma sector expected to be benefitted by factors like Currency depreciation, fall in raw material prices, low crude prices and correction in shipping prices could add to revenue growth and improvement in gross margins.The Pharma universe under our coverage could report aggregate Revenue/EBITDA/PAT growth of 5.6%/-4.8%/-2.2% YoY.Currency (Rs) has depreciated by 5.0% that could add major contribution to overall growth of 6.2% for last quarter.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.

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

<div><div><div><div><ul><li>Russia Business: DRL’s business was strong in 4QFY22, partially due to overstocking, which should normalize in 1QFY23.</li></ul><div><div><div><div><ul><li>India Branded Prescription Business: DRL is aiming to keep improving its ranking in the IPM.</li></ul><div><div><div><div><ul><li>Novartis brands’ acquisition: The acquired brands will be promoted with a mix of existing field force and addition of new salesforce.</li></ul></div></div></div></div></div></div></div></div></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>

Russia Business: DRL’s business was strong in 4QFY22, partially due to overstocking, which should normalize in 1QFY23.India Branded Prescription Business: DRL is aiming to keep improving its ranking in the IPM.Novartis brands’ acquisition: The acquired brands will be promoted with a mix of existing field force and addition of new salesforce.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.

Dr. Reddy's Laboratories - Management Meet Update

India

Dr. Reddy's Laboratories Limited provides a complete range of pharmaceutical services. The Company manufactures bulk drugs and formulations including verapamil and cephalexin. The Company also manufactures and exports molecules such as norfloxacin, ciprofloxacin, and varieties of semi-synthetic penicillin. The Company markets its products in India and around the world.

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Dr. Reddy's Laboratories (DRRD IN)

Pharma - Q3FY23 - Earnings Preview

Low single-digit growth in the US market (due to intense competition) and low double-digit growth in the India business after Covid-19 business has...

Axis Direct

Pick of the Week - Dr Reddy’s Laboratories Ltd

Dr Reddy’s Laboratories Ltd (DRREDDY) is a global pharmaceutical company committed to providing access to affordable and innovative medicines.

Axis Direct

Dr. Reddy’s Laboratories Ltd - New Launches to Add Growth and Profitability!

The growth was driven by the launch of gRevlimid in the US and sequential improvement in Russian sales, which was only partially offset by price...

Axis Direct

Pharma Q2fy23 Preview

The Pharma universe under our coverage could report aggregate Revenue/EBITDA/PAT growth of 5.6%/-4.8%/-2.2% YoY. Currency (Rs) has depreciated by 5.0%

Axis Direct

Dr. Reddy's Laboratories - Management Meet Update

We hosted the management of Dr. Reddy’s Laboratories Ltd at our Annual Investor Conference to discuss the business outlook. The company expects to...

Nirmal Bang

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