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.

Thematic (Sector/Industry)

<ul><li>Avenue Supermarts: Higher bill sizes + lower footfalls aid FMCG profitability/productivity but are a sign of more targeted shopping with little room for discovery-based purchases (courtesy inflationary pressures), which in turn make a dent on the more profitable GM &amp; apparel sales (constituted &lt;25% vs a typical run-rate of 28%).</li><li>L&amp;T Infotech: L&amp;T Infotech’s (LTI) revenue and margin came in line in Q2FY23.</li><li>ICICI Prudential Life: ICICI Prudential Life (IPRU) reported a weak APE growth (+1.7% 3-year CAGR, in line with estimates); however, VNB margins, at 31%, surprised (200bps ahead of estimates), translating into 21% YoY VNB growth.</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>

Avenue Supermarts: Higher bill sizes + lower footfalls aid FMCG profitability/productivity but are a sign of more targeted shopping with little room for discovery-based purchases (courtesy inflationary pressures), which in turn make a dent on the more profitable GM &amp; apparel sales (constituted &lt;25% vs a typical run-rate of 28%).L&amp;T Infotech: L&amp;T Infotech’s (LTI) revenue and margin came in line in Q2FY23.ICICI Prudential Life: ICICI Prudential Life (IPRU) reported a weak APE growth (+1.7% 3-year CAGR, in line with estimates); however, VNB margins, at 31%, surprised (200bps ahead of estimates), translating into 21% YoY VNB growth.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.

HSIE Results Daily: Avenue Supermarts, L&T Infotech, ICICI Prudential Life, Angel One

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>The IT Services sector is expected to report resilient growth in Q2FY23 primarily led by the new large deal wins and a ramp-up of deals won in the previous quarter despite likely macroeconomic challenges.</li><li>IT spending in North America and Europe has remained robust due to strong demand for digital and cloud transformations.</li><li>We believe the said demand momentum is likely to remain intact at least for the quarter and don’t foresee any spending being cut in this quarter, at least from the large clients across geographies.</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>

The IT Services sector is expected to report resilient growth in Q2FY23 primarily led by the new large deal wins and a ramp-up of deals won in the previous quarter despite likely macroeconomic challenges.IT spending in North America and Europe has remained robust due to strong demand for digital and cloud transformations.We believe the said demand momentum is likely to remain intact at least for the quarter and don’t foresee any spending being cut in this quarter, at least from the large clients across geographies.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 & Telecom Q2fy23 Result Preview – Demand to Remain Robust

<div><div><div><div><ul><li>IT sector is expected to post resilient Q2 performance in context of the current macro environment.</li><li>Tier-1 IT is expected to deliver sequential growth in the range of 2.4% to 4% CC.</li><li>Cross currency impact severity will be similar to last quarter with -1.3% to -1.8% sequential impact for Tier-1. </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>

IT sector is expected to post resilient Q2 performance in context of the current macro environment.Tier-1 IT is expected to deliver sequential growth in the range of 2.4% to 4% CC.Cross currency impact severity will be similar to last quarter with -1.3% to -1.8% sequential impact for Tier-1. 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.

Information Technology - Demand Resilience

Equity Bottom-Up

<div><div><div><div><ul><li>Accenture reported robust Q4FY22 numbers that were in line with the street expectations.</li><li>Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side constraints.</li><li>Operating margins grew by 10bps and stood at 17.4%. The company’s EPS for FY22 stood at $10.7, up 17% from the $9.16 it reported in FY21 and 22% from the adjusted EPS of $8.80 in FY21 (this excluded $0.36 in gains on an investment). </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>

Accenture reported robust Q4FY22 numbers that were in line with the street expectations.Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side constraints.Operating margins grew by 10bps and stood at 17.4%. The company’s EPS for FY22 stood at $10.7, up 17% from the $9.16 it reported in FY21 and 22% from the adjusted EPS of $8.80 in FY21 (this excluded $0.36 in gains on an investment). 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

<ul><li>We hosted our 6th IT Sector Investor Conference, with 22 corporates/experts participating in the event (virtual)</li><li>The participants represented the full spectrum of listed Indian IT (tier-1 and mid-tier) and experts ranging from deal advisors, global services, captive, and staffing</li><li>The key message on demand was positive, notwithstanding the prevalent macro situation.</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>

We hosted our 6th IT Sector Investor Conference, with 22 corporates/experts participating in the event (virtual)The participants represented the full spectrum of listed Indian IT (tier-1 and mid-tier) and experts ranging from deal advisors, global services, captive, and staffingThe key message on demand was positive, notwithstanding the prevalent macro situation.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

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)

HSIE Results Daily: Avenue Supermarts, L&T Infotech, ICICI Prudential Life, Angel One

Higher bill sizes + lower footfalls aid FMCG profitability/productivity but are a sign of more targeted shopping with little room for discovery...

HDFC Securities

It & Telecom Q2fy23 Result Preview – Demand to Remain Robust

The IT Services sector is expected to report resilient growth in Q2FY23 primarily led by the new large deal wins and a ramp-up of deals won in the...

Axis Direct

Information Technology - Demand Resilience

IT sector is expected to post resilient Q2 performance in context of the current macro environment. Tier-1 IT is expected to deliver sequential...

HDFC Securities

Accenture - Results In-Line With Expectation

Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side...

Axis Direct

IT Sector: Demand resilience

The participants represented the full spectrum of listed Indian IT (tier-1 and mid-tier) and experts ranging from deal advisors, global services,...

HDFC Securities

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