External broker reports(aggregated public sources), Sharekhan

Sharekhan

External broker reports(aggregated public sources)

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

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>Revenue of Rs. 4,807 crore (+19.7%/-10.6% y-o-y/q-o-q) was inline with estimates.</li><li>Iron ore sales of 9.7 mt grew by only +1.8%/-3.3% y-o-y/q-o-q.</li><li>Realization of Rs. Rs. 4,935/tonne grew +17.7%/-7.6% y-o-y/q-o-q. EBITDA of Rs. 1,440 crore (+20.7% y-o-y/-39% q-o-q) was below our estimates because of reduction in inventory value. </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.

Revenue of Rs. 4,807 crore (+19.7%/-10.6% y-o-y/q-o-q) was inline with estimates.Iron ore sales of 9.7 mt grew by only +1.8%/-3.3% y-o-y/q-o-q.Realization of Rs. Rs. 4,935/tonne grew +17.7%/-7.6% y-o-y/q-o-q. EBITDA of Rs. 1,440 crore (+20.7% y-o-y/-39% q-o-q) was below our estimates because of reduction in inventory value. 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), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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 2QFY25, NMDC reported production volume of 8.3mt, down 10% QoQ and 6% YoY, totaling 17.5mt for 1HFY25 (down 11% YoY).</li><li>Weak volume growth was due to a heavy monsoon.</li><li>NMDC has maintained its production target of 50mt for FY25 and expects volumes to ramp up significantly in 2HFY25.</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 2QFY25, NMDC reported production volume of 8.3mt, down 10% QoQ and 6% YoY, totaling 17.5mt for 1HFY25 (down 11% YoY).Weak volume growth was due to a heavy monsoon.NMDC has maintained its production target of 50mt for FY25 and expects volumes to ramp up significantly in 2HFY25.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.

Nmdc - Rising Steel Demand, Capacity Expansion to Boost Growth

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

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>Prabhudas Lilladher's research report onNMDC NMDC 4QFY24 EBITDA grew 5% QoQ to Rs21bn (-3% YoY) on higher-thanexpected increase in other expenses and royalties.</li><li>The revenue growth was led by sharp 11% increase in average realization as the company had announced two price hikes during Jan’24.</li><li>After receiving Kumaraswamy EC extension approvals, NMDC guided for ~50/54mt in FY25/26E.</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.

Prabhudas Lilladher's research report onNMDC NMDC 4QFY24 EBITDA grew 5% QoQ to Rs21bn (-3% YoY) on higher-thanexpected increase in other expenses and royalties.The revenue growth was led by sharp 11% increase in average realization as the company had announced two price hikes during Jan’24.After receiving Kumaraswamy EC extension approvals, NMDC guided for ~50/54mt in FY25/26E.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.

Nmdc (Nmdc In) -Strong Value Led Performance

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>There are 19 changes a side for the Nifty200 Momentum30 Index that will be implemented at the close on 30 December. All names are exactly in line with our forecast.</li>
<li>Estimated one-way turnover is 64.9% resulting in a one-way trade of INR 72.7bn (US$857m). There are 18 stocks with over 1x ADV to trade.</li>
<li>The adds have continued to outperform the deletes even after the end of the review period. There could be further upside heading into year-end and implementation of the changes.</li>
</ul>


There are 19 changes a side for the Nifty200 Momentum30 Index that will be implemented at the close on 30 December. All names are exactly in line with our forecast.
Estimated one-way turnover is 64.9% resulting in a one-way trade of INR 72.7bn (US$857m). There are 18 stocks with over 1x ADV to trade.
The adds have continued to outperform the deletes even after the end of the review period. There could be further upside heading into year-end and implementation of the changes.


NIFTY200 Momentum30 Index Rebalance: 38 Changes; 65% Turnover; US$1.7bn Trade

<ul>
<li>There could be 19 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 30 December. There are some stocks from the new F&amp;O inclusions.</li>
<li>If all changes are on expected lines, one-way turnover is estimated at 65.2% and that will result in a one-way trade of INR 71bn (US$837m).</li>
<li>The potential inclusions have outperformed the potential deletions since the start of July. The pace picked up over the last month as we neared the end of the review period.</li>
</ul>


There could be 19 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 30 December. There are some stocks from the new F&amp;O inclusions.
If all changes are on expected lines, one-way turnover is estimated at 65.2% and that will result in a one-way trade of INR 71bn (US$837m).
The potential inclusions have outperformed the potential deletions since the start of July. The pace picked up over the last month as we neared the end of the review period.


NIFTY200 Momentum30 Index Rebalance Preview: 65% One-Way Turnover and US$1.6bn Trade

India

NMDC Limited explores for minerals. The Company is exploring for iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, and beach sands.

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Nmdc Ltd (NMDC IN)

Nmdc - Soft Quarter; Maintain Hold

Revenue of Rs. 4,807 crore (+19.7%/-10.6% y-o-y/q-o-q) was inline with estimates. Iron ore sales of 9.7 mt grew by only +1.8%/-3.3% y-o-y/q-o-q.

Sharekhan

Nmdc - Rising Steel Demand, Capacity Expansion to Boost Growth

In 2QFY25, NMDC reported production volume of 8.3mt, down 10% QoQ and 6% YoY, totaling 17.5mt for 1HFY25 (down 11% YoY).

Motilal Oswal

Nmdc (Nmdc In) -Strong Value Led Performance

Prabhudas Lilladher's research report onNMDC NMDC 4QFY24 EBITDA grew 5% QoQ to Rs21bn (-3% YoY) on higher-thanexpected increase in other expenses...

Prabhudas Lilladhar

NIFTY200 Momentum30 Index Rebalance: 38 Changes; 65% Turnover; US$1.7bn Trade

There are 19 changes a side and all names are in line with our forecast. Estimated one-way turnover is 64.9% resulting in a one-way trade of INR...

Brian Freitas

NIFTY200 Momentum30 Index Rebalance Preview: 65% One-Way Turnover and US$1.6bn Trade

We forecast 19 changes for the index in December. One-way turnover is estimated at 65.2% resulting in a one-way trade of INR 71bn (US$837m). The...

Brian Freitas

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