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>LTIMindtree (LTIM) delivered a muted print, impacted by project cancellations in BFSI</li><li>The company has been impacted by higher exposure to BFSI including large-client related risks, sub-optimal deal pipeline and an extended period of integration (reflected in limited synergy/executive attrition)</li><li>We, however, remain positive on LTIM’s medium-term prospects</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.

LTIMindtree (LTIM) delivered a muted print, impacted by project cancellations in BFSIThe company has been impacted by higher exposure to BFSI including large-client related risks, sub-optimal deal pipeline and an extended period of integration (reflected in limited synergy/executive attrition)We, however, remain positive on LTIM’s medium-term prospectsContent 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 (Q4FY24): Uninspiring Q4. Maintain ADD

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.</li>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the NIFTY 50 and NIFTY Next 50 indices in the September 2024 rebalance.</li>
<li>There could be at least one change for NIFTY 50 and separately, there could be up to five changes for NIFTY Next 50.</li>
</ul>


NIFTY 50 represents the 50 largest stocks listed in the National Stock Exchange (NSE) of India and the NIFTY Next 50 index tracks the next 50 largest names.
In this insight, we take a look at the names leading the race to become ADDs/DELs for the NIFTY 50 and NIFTY Next 50 indices in the September 2024 rebalance.
There could be at least one change for NIFTY 50 and separately, there could be up to five changes for NIFTY Next 50.


Quiddity Leaderboard NIFTY Sep 24: Multiple Names Eligible for NIFTY 50 Addition

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/trent-ltd" target="_blank" data-smartkarma-citation="entities:8410:1" rel="noopener">Trent Ltd (TRENT IN)</a> and <a href="https://www.smartkarma.com/entities/bharat-electronics-ltd" target="_blank" data-smartkarma-citation="entities:6636:1" rel="noopener">Bharat Electronics (BHE IN)</a> are shoo-ins to replace <a href="https://www.smartkarma.com/entities/ltimindtree-ltd" target="_blank" data-smartkarma-citation="entities:22778:1" rel="noopener">LTIMindtree (LTIM IN)</a> and <a href="https://www.smartkarma.com/entities/divi-s-laboratories-ltd" target="_blank" data-smartkarma-citation="entities:4871:1" rel="noopener">Divi's Laboratories (DIVI IN)</a> in 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> in September.</li>
<li>Passive <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index</a> trackers will need to trade at least 3.3x ADV and 7.7x delivery volume on the stocks. There is some opposite flow from <a href="https://www.smartkarma.com/entities/nse-nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">Nifty Next 50 Index</a> trackers.</li>
<li>Cumulative excess volume has increased in all stocks but there are some stocks where there will still be more positioning over the next few weeks.</li>
</ul>



Trent Ltd (TRENT IN) and Bharat Electronics (BHE IN) are shoo-ins to replace LTIMindtree (LTIM IN) and Divi's Laboratories (DIVI IN) in the NIFTY Index (NIFTY INDEX) in September.
Passive NIFTY Index trackers will need to trade at least 3.3x ADV and 7.7x delivery volume on the stocks. There is some opposite flow from Nifty Next 50 Index trackers.
Cumulative excess volume has increased in all stocks but there are some stocks where there will still be more positioning over the next few weeks.


NIFTY50 Index Rebalance Preview: Big Flow, Big Impact, Big Positioning

<ul><li>LTIMindtree’s (LTIM) growth deceleration has been impacted by higher exposure to BFSI (with potential for deterioration due to client-specific factors), sub-optimal large deal pipeline and extended period of integration reflected in continued executive attrition</li><li>While the medium-term hypothesis for growth premium to tier-1 peers remains, the earnings cut reflects the near-term growth challenges and delayed margin recovery</li><li>We met the management recently and expect LTIM’s rate of recovery to be gradual, impacted by a ‘weak exit’ to FY24E.</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.

LTIMindtree’s (LTIM) growth deceleration has been impacted by higher exposure to BFSI (with potential for deterioration due to client-specific factors), sub-optimal large deal pipeline and extended period of integration reflected in continued executive attritionWhile the medium-term hypothesis for growth premium to tier-1 peers remains, the earnings cut reflects the near-term growth challenges and delayed margin recoveryWe met the management recently and expect LTIM’s rate of recovery to be gradual, impacted by a ‘weak exit’ to FY24E.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: Deferred Gratification. Maintain ADD

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>In Q3FY24, LTIMindtree Ltd. (LTIMINDTREE) reported revenue of Rs 9,017 Cr, up 1.2% QoQ (0.7% QoQ in CC terms).</li><li>This was slightly below our expectations. The company’s operating profit stood at Rs 1,386 Cr, reporting a decline of 2.6% on a QoQ basis.</li><li>This was largely on account of lower overall demand in the majority of its operating regions. Its net profit for Q3FY24 stood at Rs 1,169 Cr, registering a growth of 0.6% QoQ.</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.

In Q3FY24, LTIMindtree Ltd. (LTIMINDTREE) reported revenue of Rs 9,017 Cr, up 1.2% QoQ (0.7% QoQ in CC terms).This was slightly below our expectations. The company’s operating profit stood at Rs 1,386 Cr, reporting a decline of 2.6% on a QoQ basis.This was largely on account of lower overall demand in the majority of its operating regions. Its net profit for Q3FY24 stood at Rs 1,169 Cr, registering a growth of 0.6% QoQ.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. - Near-Term Challenges Persist; Tepid Results

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)

LTIMindtree (Q4FY24): Uninspiring Q4. Maintain ADD

LTIMindtree (LTIM) delivered a muted print, impacted by project cancellations in BFSI The company has been impacted by higher exposure to BFSI...

HDFC Securities

Quiddity Leaderboard NIFTY Sep 24: Multiple Names Eligible for NIFTY 50 Addition

For NIFTY 50, the top-ranked potential ADD and DEL are Trent Ltd and LTIMindtree respectively. I expect there to be at least one NIFTY 50 change in...

Janaghan Jeyakumar, CFA

NIFTY50 Index Rebalance Preview: Big Flow, Big Impact, Big Positioning

There are 2 high probability changes for the NIFTY in Sep. New stocks added to the FnO list could increase the number of changes. There is big flow...

Brian Freitas

LTIMindtree: Deferred Gratification. Maintain ADD

LTIMindtree’s (LTIM) growth deceleration has been impacted by higher exposure to BFSI (with potential for deterioration due to client-specific...

HDFC Securities

LTIMINDTREE Ltd. - Near-Term Challenges Persist; Tepid Results

In Q3FY24, LTIMindtree Ltd. (LTIMINDTREE) reported revenue of Rs 9,017 Cr, up 1.2% QoQ (0.7% QoQ in CC terms). This was slightly below our...

Axis Direct

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