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

<div><div><div><div><ul><li>LTIMindtree is India’s sixth largest IT services exporter and has strong global presence.</li><li>It provides industry wide solutions including next gen services like Cloud computing, digital transformations, IoT, Machine learning etc.</li><li>Infosys also has expertise in providing solutions in verticals like banking and financial services, Retail, Manufacturing etc.</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>

LTIMindtree is India’s sixth largest IT services exporter and has strong global presence.It provides industry wide solutions including next gen services like Cloud computing, digital transformations, IoT, Machine learning etc.Infosys also has expertise in providing solutions in verticals like banking and financial services, Retail, Manufacturing etc.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.

<ul><li>Improved outlook on the vertical and engagement with clients give us confidence in the future outlook of the company.</li><li>TCV stood strong in Q3FY23 with eight quarter-high deal wins at $1.5 Bn</li><li>The management is confident of gaining medium-term demand momentum on the backdrop of the deals it has won in the previous quarters as well as it expects improvement on the margin front.</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>

Improved outlook on the vertical and engagement with clients give us confidence in the future outlook of the company.TCV stood strong in Q3FY23 with eight quarter-high deal wins at $1.5 BnThe management is confident of gaining medium-term demand momentum on the backdrop of the deals it has won in the previous quarters as well as it expects improvement on the margin front.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.

LTIMINDTREE Ltd. - Margins Miss; Improving Growth Outlook

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>LTIMindtree (LTIM) delivered its first quarterly performance as a combined entity clocking quarterly revenue of USD 1.05bn and recording deal bookings of USD 1.2bn</li><li>We believe that LTIM can take market share from tier-1 IT (LTIM 5% of India tier-1 IT but 8-10% share of incremental growth)</li><li>LTIM expects ~USD 1bn in revenue synergies over 4-5 years and ~200bps cost synergies</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>

LTIMindtree (LTIM) delivered its first quarterly performance as a combined entity clocking quarterly revenue of USD 1.05bn and recording deal bookings of USD 1.2bnWe believe that LTIM can take market share from tier-1 IT (LTIM 5% of India tier-1 IT but 8-10% share of incremental growth)LTIM expects ~USD 1bn in revenue synergies over 4-5 years and ~200bps cost synergiesContent 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.

LTIMindtree (Results Review Q3FY23): Change of orbit. BUY

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>With only 5 trading days to go in the review period, we see no constituent changes to the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index (NIFTY INDEX)</a> at the March rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/pidilite-industries-ltd" target="_blank" data-smartkarma-citation="entities:20573:1" rel="noopener">Pidilite Industries (PIDI IN)</a> is the highest ranked non-index constituent, but its free float market cap does not exceed 1.5x the free-float market cap of <a href="https://www.smartkarma.com/entities/bharat-petroleum-corp-ltd" target="_blank" data-smartkarma-citation="entities:10222:1" rel="noopener">Bharat Petroleum Corp (BPCL IN)</a>. </li>
<li>We do not expect LTIMindtree (LTIM IN) to be added to the index in March post the merger between <a href="https://www.smartkarma.com/entities/larsen-toubro-ltd" target="_blank" data-smartkarma-citation="entities:2499:1" rel="noopener">Larsen &amp; Toubro (LT IN)</a> and <a href="https://www.smartkarma.com/entities/mindtree-ltd" target="_blank" data-smartkarma-citation="entities:7297:1" rel="noopener">Mindtree Ltd (MTCL IN)</a>. </li>
</ul>


With only 5 trading days to go in the review period, we see no constituent changes to the NIFTY Index (NIFTY INDEX) at the March rebalance.

Pidilite Industries (PIDI IN) is the highest ranked non-index constituent, but its free float market cap does not exceed 1.5x the free-float market cap of Bharat Petroleum Corp (BPCL IN). 
We do not expect LTIMindtree (LTIM IN) to be added to the index in March post the merger between Larsen &amp; Toubro (LT IN) and Mindtree Ltd (MTCL IN). 


NIFTY50 Index Rebalance Preview: No Changes Likely in March

<ul><li>Accenture reported robust Q1FY23 numbers which stood in line with the street expectations.</li><li>Revenue for the quarter stood at $15.7 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of slowdown and increasing interest rates.</li><li>In line with the revenue growth, the company’s operating margins grew by 20bps to 16.5%. Its EPS for Q1FY23 stood at $3.08, up 17%, beating analyst estimates of $2.91. Accenture flagged a negative impact of ~9.5% on sales from a stronger dollar.</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>

Accenture reported robust Q1FY23 numbers which stood in line with the street expectations.Revenue for the quarter stood at $15.7 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of slowdown and increasing interest rates.In line with the revenue growth, the company’s operating margins grew by 20bps to 16.5%. Its EPS for Q1FY23 stood at $3.08, up 17%, beating analyst estimates of $2.91. Accenture flagged a negative impact of ~9.5% on sales from a stronger dollar.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.

Accenture - Results In-Line With Expectation; Guidance Below Expectations

India

LTIMindtree Limited provides information technology services and solutions. The Company offers analytics and information management, enterprise integration, applications management, cloud computing, testing, and consulting services, as well as geographical information and manufacturing execution systems. LTIMindtree serves customers worldwide.

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LTIMindtree (LTIM IN)

Pick of the Week - LTIMindtree Ltd

LTIMindtree is India’s sixth largest IT services exporter and has strong global presence. It provides industry wide solutions including next gen...

Axis Direct

LTIMINDTREE Ltd. - Margins Miss; Improving Growth Outlook

Improved outlook on the vertical and engagement with clients give us confidence in the future outlook of the company. TCV stood strong in Q3FY23...

Axis Direct

LTIMindtree (Results Review Q3FY23): Change of orbit. BUY

LTIMindtree (LTIM) delivered its first quarterly performance as a combined entity clocking quarterly revenue of USD 1.05bn and recording deal...

HDFC Securities

NIFTY50 Index Rebalance Preview: No Changes Likely in March

We do not expect any changes in March since Pidilite's average FFMC does not exceed 1.5x the FFMC for BPCL. There will be an adhoc change prior to...

Brian Freitas

Accenture - Results In-Line With Expectation; Guidance Below Expectations

Revenue for the quarter stood at $15.7 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of...

Axis Direct

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