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. 

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Thematic (Sector/Industry)

<ul><li>The IT Services sector is expected to report moderate growth in Q3FY23, primarily on account of the seasonally weak quarter and slowing down growth momentum led by uncertainties in the US and UK.</li><li>However, IT spending in North America and Europe has continued to be relatively strong owing to the demand for digital transformation and cloud transformations.</li><li>We believe it is likely to remain intact, at least for the quarter. </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 expected to report moderate growth in Q3FY23, primarily on account of the seasonally weak quarter and slowing down growth momentum led by uncertainties in the US and UK.However, IT spending in North America and Europe has continued to be relatively strong owing to the demand for digital transformation and cloud transformations.We believe it is likely to remain intact, at least for the quarter. 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 Q3FY23 Result Preview – Demand Slowing Down; Margins Remain Stable

Equity Bottom-Up

<ul><li>Accenture reported robust Q1FY23 numbers which stood in line with the street expectations.</li><li>Revenue for the quarter stood at $15.7 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of slowdown and increasing interest rates.</li><li>In line with the revenue growth, the company’s operating margins grew by 20bps to 16.5%. Its EPS for Q1FY23 stood at $3.08, up 17%, beating analyst estimates of $2.91. Accenture flagged a negative impact of ~9.5% on sales from a stronger dollar.</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 reported robust Q1FY23 numbers which stood in line with the street expectations.Revenue for the quarter stood at $15.7 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of slowdown and increasing interest rates.In line with the revenue growth, the company’s operating margins grew by 20bps to 16.5%. Its EPS for Q1FY23 stood at $3.08, up 17%, beating analyst estimates of $2.91. Accenture flagged a negative impact of ~9.5% on sales from a stronger dollar.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; Guidance Below Expectations

<ul><li>Persistent Systems Ltd (Persistent) reported strong and broad-based growth in Q2FY23 and beat our expectations on all key parameters.</li><li>The company's revenue stood at Rs 2,048.6 Cr, up 10.6% QoQ and 64.7% YoY.</li><li>Its operating profits registered a growth of 10.4% QoQ to Rs 298.6 Cr and operating margins marginally expanded by 30bps QoQ to 14.6%.</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.

Persistent Systems Ltd (Persistent) reported strong and broad-based growth in Q2FY23 and beat our expectations on all key parameters.The company's revenue stood at Rs 2,048.6 Cr, up 10.6% QoQ and 64.7% YoY.Its operating profits registered a growth of 10.4% QoQ to Rs 298.6 Cr and operating margins marginally expanded by 30bps QoQ to 14.6%.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.

Persistent Systems Ltd - Robust Business & Strong Execution to Lead Growth

<ul><li>Q2FY23 marked a cool-off in the key commodity prices including the base metals and the crude oil as against the Q1FY23 period that witnessed elevated commodity prices, which had changed the inflation dynamics significantly.</li><li>To curb the prevailing inflation problem, all central banks including the RBI have adopted a path of aggressive policy tightening.</li><li>The RBI increased the repo rate by 50bps in Sep’22 MPC, marking a total policy rate hike of 190bps to 5.9%.</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.

Q2FY23 marked a cool-off in the key commodity prices including the base metals and the crude oil as against the Q1FY23 period that witnessed elevated commodity prices, which had changed the inflation dynamics significantly.To curb the prevailing inflation problem, all central banks including the RBI have adopted a path of aggressive policy tightening.The RBI increased the repo rate by 50bps in Sep’22 MPC, marking a total policy rate hike of 190bps to 5.9%.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>Axis Top Picks basket reported a resilient performance with an astounding return of 143% since its inception, notably beating an 84% return reported by the benchmark NIFTY 50 Index over the same period.</li><li>A few picks that reported encouraging returns amidst prevailing volatility included APL Apollo Tubes (9.6%), Astral (6.7%), CCL Products (4.7%), and HealthCare Global Enterprises (4.4%)</li><li>PoW delivered an excellent cumulative strike rate of 72% in Sep’22.</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.

Axis Top Picks basket reported a resilient performance with an astounding return of 143% since its inception, notably beating an 84% return reported by the benchmark NIFTY 50 Index over the same period.A few picks that reported encouraging returns amidst prevailing volatility included APL Apollo Tubes (9.6%), Astral (6.7%), CCL Products (4.7%), and HealthCare Global Enterprises (4.4%)PoW delivered an excellent cumulative strike rate of 72% in Sep’22.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 Q3FY23 Result Preview – Demand Slowing Down; Margins Remain Stable

The IT Services sector is expected to report moderate growth in Q3FY23, primarily on account of the seasonally weak quarter and slowing down growth...

Axis Direct

Accenture - Results In-Line With Expectation; Guidance Below Expectations

Revenue for the quarter stood at $15.7 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of...

Axis Direct

Persistent Systems Ltd - Robust Business & Strong Execution to Lead Growth

Persistent Systems Ltd (Persistent) reported strong and broad-based growth in Q2FY23 and beat our expectations on all key parameters.

Axis Direct

Consolidate Q2FY23 Result Preview

Q2FY23 marked a cool-off in the key commodity prices including the base metals and the crude oil as against the Q1FY23 period that witnessed...

Axis Direct

Axis Research Scorecard Report - Sep 22

Axis Top Picks basket reported a resilient performance with an astounding return of 143% since its inception, notably beating an 84% return...

Axis Direct

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