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.

Thematic (Sector/Industry)

<ul><li>The IT Services sector is anticipated to exhibit moderated growth in Q1FY25, primarily due to weaker discretionary spending, driven by uncertainties in macroeconomic conditions and upcoming elections in the US.</li><li>However, non-discretionary spending is expected to see some improvement.</li><li>Many large enterprises are likely to prioritize cost optimizations, resulting in an increase in cost take-out deals, vendor consolidation, and reduced discretionary spending.</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 IT Services sector is anticipated to exhibit moderated growth in Q1FY25, primarily due to weaker discretionary spending, driven by uncertainties in macroeconomic conditions and upcoming elections in the US.However, non-discretionary spending is expected to see some improvement.Many large enterprises are likely to prioritize cost optimizations, resulting in an increase in cost take-out deals, vendor consolidation, and reduced discretionary spending.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 Services Q1fy25 Result Preview – Moderated Growth; Recovery Expected

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>IT sector (coverage universe) continues to transition from a protracted IT upgrade cycle and low discretionary spending to some normalisation in H2FY25E which is our ‘base’ case</li><li>We believe that the growth/earnings cut cycle has bottomed out, but the pace of recovery remains uncertain, especially with lingering macro events over the next couple of quarters</li><li>The relative under-ownership in the sector can still provide tactical opportunities, even as valuations relative to benchmarks are not compelling enough in aggregate—remain selective with preference for TCS within tier-1 and Persistent Systems within mid-tier IT.</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.

IT sector (coverage universe) continues to transition from a protracted IT upgrade cycle and low discretionary spending to some normalisation in H2FY25E which is our ‘base’ caseWe believe that the growth/earnings cut cycle has bottomed out, but the pace of recovery remains uncertain, especially with lingering macro events over the next couple of quartersThe relative under-ownership in the sector can still provide tactical opportunities, even as valuations relative to benchmarks are not compelling enough in aggregate—remain selective with preference for TCS within tier-1 and Persistent Systems within mid-tier IT.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>Accenture’s reported Q3FY24 results stood below street expectations on all financial and operational terms.</li><li>Revenue for the quarter stood at $16.5 Bn, registering a de-growth of 1% YoY (in US$ terms) but growth of 1.4% YoY in local currency.</li><li>It registered GAAP EPS of $3.04 for the quarter while adjusted EPS stood at $3.13, reporting 3% YoY de-growth. </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.

Accenture’s reported Q3FY24 results stood below street expectations on all financial and operational terms.Revenue for the quarter stood at $16.5 Bn, registering a de-growth of 1% YoY (in US$ terms) but growth of 1.4% YoY in local currency.It registered GAAP EPS of $3.04 for the quarter while adjusted EPS stood at $3.13, reporting 3% YoY de-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.

Sector Update: Accenture Q3 FY24 Result Update

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

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Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

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State Bank Of India (SBIN IN) and Union Bank Of India (UNBK IN) Board Approves Fundraise in form of Debt and Equity

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Jubilant Foodworks (JUBI IN)’s India Reaches Milestone of 2,000 Stores, Plans Further Expansion


#12 India Insight: SBI & Union Bk Fundraise, Tata Steel, Persistent System & Google, Dominos Target

<ul><li>Disappointing revenue growth: Most IT companies have reported disappointing revenue growth in Q4FY24, indicating subdued demand from the world’s largest economies.</li><li>The Indian IT Services sector does not foresee a quick recovery in discretionary spending due to uncertainty in macroeconomic factors.</li><li>Revenue growth from North America continues to lag behind Europe for Tier-1 tech companies, similar to recent quarters. </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.

Disappointing revenue growth: Most IT companies have reported disappointing revenue growth in Q4FY24, indicating subdued demand from the world’s largest economies.The Indian IT Services sector does not foresee a quick recovery in discretionary spending due to uncertainty in macroeconomic factors.Revenue growth from North America continues to lag behind Europe for Tier-1 tech companies, similar to recent quarters. 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

Persistent Systems Limited offers outsourced software product development. The Company offer services that include testing, support, and professional services.

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Persistent Systems (PSYS IN)

It Services Q1fy25 Result Preview – Moderated Growth; Recovery Expected

Many large enterprises are likely to prioritize cost optimizations, resulting in an increase in cost take-out deals, vendor consolidation, and...

Axis Direct

IT: More of the same is good news

IT sector (coverage universe) continues to transition from a protracted IT upgrade cycle and low discretionary spending to some normalisation in...

HDFC Securities

Sector Update: Accenture Q3 FY24 Result Update

Accenture’s reported Q3FY24 results stood below street expectations on all financial and operational terms. Revenue for the quarter stood at $16.5 Bn

Axis Direct

#12 India Insight: SBI & Union Bk Fundraise, Tata Steel, Persistent System & Google, Dominos Target

State Bank Of India and Union Bank Of India to raise funds through debt and equity, Tata Steel's £1.25 billion investment in UK at risk, Jubilant...

Sudarshan Bhandari

Top Sector Ideas - IT Services (Q4FY24)

Disappointing revenue growth: Most IT companies have reported disappointing revenue growth in Q4FY24, indicating subdued demand from the world’s...

Axis Direct

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It Services Q1fy25 Result Preview – Moderated Growth; Recovery Expected

Many large enterprises are likely to prioritize cost optimizations, resulting in an increase in cost take-out deals, vendor consolidation, and...

Axis Direct

IT: More of the same is good news

IT sector (coverage universe) continues to transition from a protracted IT upgrade cycle and low discretionary spending to some normalisation in...

HDFC Securities

Sector Update: Accenture Q3 FY24 Result Update

Accenture’s reported Q3FY24 results stood below street expectations on all financial and operational terms. Revenue for the quarter stood at $16.5 Bn

Axis Direct

#12 India Insight: SBI & Union Bk Fundraise, Tata Steel, Persistent System & Google, Dominos Target

​State Bank Of India and Union Bank Of India to raise funds through debt and equity, Tata Steel's £1.25 billion investment in UK at risk, Jubilant...

Sudarshan Bhandari

Top Sector Ideas - IT Services (Q4FY24)

Disappointing revenue growth: Most IT companies have reported disappointing revenue growth in Q4FY24, indicating subdued demand from the world’s...

Axis Direct

State Bank Of India and Union Bank Of India to raise funds through debt and equity, Tata Steel's £1.25 billion investment in UK at risk, Jubilant...