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.

Equity Bottom-Up

<ul><li>Unexpected ramp-down in projects in verticals such as Telecom and BFSI</li><li>TCV stood strong in Q4FY23 with eight quarter-high deal wins at $2.1 Bn</li><li>The management is cautious about the outlook in the demand scenario from North America. However, Europe stood comparatively resilient.</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.

Unexpected ramp-down in projects in verticals such as Telecom and BFSITCV stood strong in Q4FY23 with eight quarter-high deal wins at $2.1 BnThe management is cautious about the outlook in the demand scenario from North America. However, Europe stood comparatively resilient.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.

Infosys Ltd. - Disappointing Results; Outlook Skeptical

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>The near-inevitable happened, but Infosys’ (INFO) Q4 can pass on as an aberration even as macro headwinds persist</li><li>The low probability sequential decline (eight times in the last sixty quarters and four times ex-GFC and Covid quarters) was due to a combination of deal cancellations and deferrals largely centric in NorthAm (BFSI &amp; communication vertical in NorthAm was 70% of the sequential drop)</li><li>So the cut in estimates is a bigger function of the FY23 exit rate rather than the guidance provided (4-7% CC)</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.

The near-inevitable happened, but Infosys’ (INFO) Q4 can pass on as an aberration even as macro headwinds persistThe low probability sequential decline (eight times in the last sixty quarters and four times ex-GFC and Covid quarters) was due to a combination of deal cancellations and deferrals largely centric in NorthAm (BFSI &amp; communication vertical in NorthAm was 70% of the sequential drop)So the cut in estimates is a bigger function of the FY23 exit rate rather than the guidance provided (4-7% CC)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.

Infosys (Results Review Q4FY23): On the back foot. Downgrade to ADD

Thematic (Sector/Industry)

<ul><li>IT sector is expected to post a soft Q4 on increased macro uncertainty</li><li>We expect tier-1 IT to post growth in the range of -2% to +1% QoQ and mid-tier IT to post growth in the range of -1.4% to 2.6% QoQ CC organic</li><li>Deal flow is expected to be strongly supported by increased cost optimisation deals and vendor consolidation by enterprise clients</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.

IT sector is expected to post a soft Q4 on increased macro uncertaintyWe expect tier-1 IT to post growth in the range of -2% to +1% QoQ and mid-tier IT to post growth in the range of -1.4% to 2.6% QoQ CC organicDeal flow is expected to be strongly supported by increased cost optimisation deals and vendor consolidation by enterprise clientsContent 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 (Q4FY23E Results Preview): Soft quarter; outlook holds the key

IT (Q4FY23E Results Preview) - Soft Quarter; Outlook Holds the Key

<ul><li>Axis Alpha reported a dream monthly strike rate of 100% in Mar’23. It continued to deliver robust returns with absolute profits of over 5.53 Lc since its inception in May’20.</li><li>A few calls that met their targets successfully were KEC International (4.4% in 4 days), Indian Hotels (4%)</li><li>Our Axis Top Picks basket reported an impressive performance with a return of 149% since its inception, notably beating the 87% returns reported by the benchmark NIFTY 50 Index 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 Alpha reported a dream monthly strike rate of 100% in Mar’23. It continued to deliver robust returns with absolute profits of over 5.53 Lc since its inception in May’20.A few calls that met their targets successfully were KEC International (4.4% in 4 days), Indian Hotels (4%)Our Axis Top Picks basket reported an impressive performance with a return of 149% since its inception, notably beating the 87% returns reported by the benchmark NIFTY 50 Index 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.

India

Infosys Limited provides IT consulting and software services, including e-business, program management and supply chain solutions. The Group's services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses specializing in the insurance, banking, telecommunication and manufacturing sectors.

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Infosys Ltd (INFO IN)

Infosys Ltd. - Disappointing Results; Outlook Skeptical

The management is cautious about the outlook in the demand scenario from North America. However, Europe stood comparatively resilient.

Axis Direct

Infosys (Results Review Q4FY23): On the back foot. Downgrade to ADD

The low probability sequential decline (eight times in the last sixty quarters and four times ex-GFC and Covid quarters) was due to a combination...

HDFC Securities

IT (Q4FY23E Results Preview): Soft quarter; outlook holds the key

We expect tier-1 IT to post growth in the range of -2% to +1% QoQ and mid-tier IT to post growth in the range of -1.4% to 2.6% QoQ CC organic

HDFC Securities

IT (Q4FY23E Results Preview) - Soft Quarter; Outlook Holds the Key

We expect tier-1 IT to post growth in the range of -2% to +1% QoQ and mid-tier IT to post growth in the range of -1.4% to 2.6% QoQ CC organic

HDFC Securities

Axis Research Scorecard Report - Mar 23

Axis Alpha reported a dream monthly strike rate of 100% in Mar’23. It continued to deliver robust returns with absolute profits of over 5.53 Lc...

Axis Direct

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