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>15.2 GW of thermal capacity to be added to the pipeline: NTPC expects to add 15.2 GW of thermal capacity which will be tendered in the next 2-3 years (8 GW tied up to PPA), in addition to the existing 9.6 GW of under-construction thermal capacity.</li><li>In Q3FY24, the thermal capacity addition pipeline was at 16.8 GW.</li><li>RE targets: NTPC has an ambitious target of 60 GW of renewable capacity (RE) by FY32.</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.

15.2 GW of thermal capacity to be added to the pipeline: NTPC expects to add 15.2 GW of thermal capacity which will be tendered in the next 2-3 years (8 GW tied up to PPA), in addition to the existing 9.6 GW of under-construction thermal capacity.In Q3FY24, the thermal capacity addition pipeline was at 16.8 GW.RE targets: NTPC has an ambitious target of 60 GW of renewable capacity (RE) by FY32.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.

Ntpc -Robust Q4: Focus Continues on Thermal/RE Expansion

<ul><li>NTPC’s net sales stood down 4%/5% YoY/QoQ and missed the Bloomberg consensus by 4%. EBITDA stood down by 22%/10% YoY/QoQ and missed the consensus by 11%.</li><li>However, PAT stood up 7%/10% YoY/QoQ, beating the consensus by 7% led by higher regulatory deferral account balances.</li><li>Regulated equity as of 31st Dec 2023 stood at Rs 82,094 Cr on a standalone basis and Rs 98,712 Cr on a consolidated basis. </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.

NTPC’s net sales stood down 4%/5% YoY/QoQ and missed the Bloomberg consensus by 4%. EBITDA stood down by 22%/10% YoY/QoQ and missed the consensus by 11%.However, PAT stood up 7%/10% YoY/QoQ, beating the consensus by 7% led by higher regulatory deferral account balances.Regulated equity as of 31st Dec 2023 stood at Rs 82,094 Cr on a standalone basis and Rs 98,712 Cr on a consolidated basis. 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.

NTPC - Focus Continues on Thermal/RE Expansion; Maintain BUY

<ul><li>NTPC is the largest power producer forming 17% of India’s installed capacity and 25% of the total generation in FY23.</li><li>The broad-based economic recovery and infrastructure growth have driven an increase in peak demand, reaching new highs in FY24.</li><li>This surge in demand, particularly during non-solar hours, has resulted in a resurgence of peak deficits, once again bringing the sector into the spotlight</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.

NTPC is the largest power producer forming 17% of India’s installed capacity and 25% of the total generation in FY23.The broad-based economic recovery and infrastructure growth have driven an increase in peak demand, reaching new highs in FY24.This surge in demand, particularly during non-solar hours, has resulted in a resurgence of peak deficits, once again bringing the sector into the spotlightContent 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.

NTPC - Well-Placed to Benefit from RE-Transition

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 could be 18 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 28 December.</li>
<li>If all changes are on expected lines, one-way turnover is estimated at 58.2% and that will result in a one-way trade of INR 20bn (US$240m).</li>
<li>Since July, the potential adds to the index have outperformed the index and the potential deletes by a big margin. Momentum could keep the outperformance going till implementation date.</li>
</ul>


There could be 18 changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 28 December.
If all changes are on expected lines, one-way turnover is estimated at 58.2% and that will result in a one-way trade of INR 20bn (US$240m).
Since July, the potential adds to the index have outperformed the index and the potential deletes by a big margin. Momentum could keep the outperformance going till implementation date.


NIFTY200 Momentum30 Index Rebalance Preview: 58% Turnover & Strong Momentum

Thematic (Sector/Industry)

<ul><li>The Finance Minister of India will present the full-year Union Budget for FY24-25 on 23rd July’24.</li><li>The impact of the Union Budget on the equity market has reduced notably over the past few years with the government undertaking most of the reforms outside the purview of the Budget.</li><li>As it is the first full-year budget after the formation of the NDA 3.0 government, market participants continue to view it as a critical catalyst stimulating the Indian economy’s growth and thereby the Indian market.</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 Finance Minister of India will present the full-year Union Budget for FY24-25 on 23rd July’24.The impact of the Union Budget on the equity market has reduced notably over the past few years with the government undertaking most of the reforms outside the purview of the Budget.As it is the first full-year budget after the formation of the NDA 3.0 government, market participants continue to view it as a critical catalyst stimulating the Indian economy’s growth and thereby the Indian market.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.

Pre Union Budget Expectations 2024-25: Budget Likely to Strengthen the Narrative of “Viksit Bharat”

India

NTPC Ltd. owns and operates power generation plants that supply power to state electricity boards throughout India.  The Company is a public sector undertaking of the Government of India and it also undertakes turnkey consulting projects to set up power plants.

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NTPC Ltd (NTPC IN)

Ntpc -Robust Q4: Focus Continues on Thermal/RE Expansion

NTPC expects to add 15.2 GW of thermal capacity which will be tendered in the next 2-3 years (8 GW tied up to PPA), in addition to the existing 9.6...

Axis Direct

NTPC - Focus Continues on Thermal/RE Expansion; Maintain BUY

NTPC’s net sales stood down 4%/5% YoY/QoQ and missed the Bloomberg consensus by 4%. EBITDA stood down by 22%/10% YoY/QoQ and missed the consensus...

Axis Direct

NTPC - Well-Placed to Benefit from RE-Transition

The broad-based economic recovery and infrastructure growth have driven an increase in peak demand, reaching new highs in FY24.

Axis Direct

NIFTY200 Momentum30 Index Rebalance Preview: 58% Turnover & Strong Momentum

There could be 18 changes for the Nifty200 Momentum30 Index resulting in 1-way turnover of 58.2% and in a 1-way trade of INR 20bn (US$240m). Adds...

Brian Freitas

Pre Union Budget Expectations 2024-25: Budget Likely to Strengthen the Narrative of “Viksit Bharat”

The impact of the Union Budget on the equity market has reduced notably over the past few years with the government undertaking most of the reforms...

Axis Direct

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