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>We expect road construction companies under our coverage to report Revenue/EBITDA/APAT growth of 4%/1%/5% YoY.</li><li>The said growth was led by better execution which supported higher profitability during the quarter.</li><li>All companies, except GR infra, are expected to post revenue growth in the range of 9-10%.</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 expect road construction companies under our coverage to report Revenue/EBITDA/APAT growth of 4%/1%/5% YoY.The said growth was led by better execution which supported higher profitability during the quarter.All companies, except GR infra, are expected to post revenue growth in the range of 9-10%.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.

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<li>During the quarter, companies under our coverage reported Revenue/EBITDA/APAT growth of 9%/3%/8% against expectation of 9%/5%/6% YoY backed by better execution.</li>
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<li>Considerable improvement in performance matrix: On a sequential basis, Revenue/EBITDA/APAT showed considerable improvement and grew 21%/20%/27%.</li>
<li>EBITDA margins came at 15.5% vs. 16.3% YoY slightly lower owing to underperformance by GR Infraprojects Ltd while other stocks performed well.</li>
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<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>


During the quarter, companies under our coverage reported Revenue/EBITDA/APAT growth of 9%/3%/8% against expectation of 9%/5%/6% YoY backed by better execution.





Considerable improvement in performance matrix: On a sequential basis, Revenue/EBITDA/APAT showed considerable improvement and grew 21%/20%/27%.
EBITDA margins came at 15.5% vs. 16.3% YoY slightly lower owing to underperformance by GR Infraprojects Ltd while other stocks performed well.




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.

<div><ul><li>Axis Top Picks basket delivered impressive returns of 25% in the last one year, outperforming the benchmark Index NIFTY 50 (12% returns in one year) by a notable margin.</li><li>In May’23, the basket inched up further by 4.2%. Furthermore, it gives us immense joy to share that our Top Picks basket has delivered an impressive return of 168% since its inception (May’20), which stands significantly higher than the 100% return delivered by NIFTY 50 over the same period.</li><li>Keeping this in view, we continue to believe in our thematic approach to Top Picks selection.</li></ul></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>

Axis Top Picks basket delivered impressive returns of 25% in the last one year, outperforming the benchmark Index NIFTY 50 (12% returns in one year) by a notable margin.In May’23, the basket inched up further by 4.2%. Furthermore, it gives us immense joy to share that our Top Picks basket has delivered an impressive return of 168% since its inception (May’20), which stands significantly higher than the 100% return delivered by NIFTY 50 over the same period.Keeping this in view, we continue to believe in our thematic approach to Top Picks selection.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.

Top Picks - Upcoming Monsoon Critical for Broad-Based Recovery - June 2023

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>Mahindra &amp; Mahindra: M&amp;M Q4 adjusted PAT at INR 19.3bn came in above our estimate of INR 16.2bn due to higher-than-expected revenue and lower tax rate, even as its operational performance was in line with our estimates</li><li>M&amp;M’s performance highlights for FY23 are: (1) No1 in SUVs revenue market share at 19.1% (+370bps YoY) (2) market leader in LCVs (&lt;3.5T) with 520bps improvement to 45.5% (3) FES market share up 120bps YoY to 41.2% (4) market leader in EV 3Ws with 67.6% share</li><li>Also, it is commendable that M&amp;M has already achieved most of the targets it earmarked a couple of years back, including improvement in auto margins, EPS CAGR, RoE at 18% (stands at 19.9% for FY23), calibrated asset allocation, etc</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>

Mahindra &amp; Mahindra: M&amp;M Q4 adjusted PAT at INR 19.3bn came in above our estimate of INR 16.2bn due to higher-than-expected revenue and lower tax rate, even as its operational performance was in line with our estimatesM&amp;M’s performance highlights for FY23 are: (1) No1 in SUVs revenue market share at 19.1% (+370bps YoY) (2) market leader in LCVs (&lt;3.5T) with 520bps improvement to 45.5% (3) FES market share up 120bps YoY to 41.2% (4) market leader in EV 3Ws with 67.6% shareAlso, it is commendable that M&amp;M has already achieved most of the targets it earmarked a couple of years back, including improvement in auto margins, EPS CAGR, RoE at 18% (stands at 19.9% for FY23), calibrated asset allocation, etcContent 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: Mahindra & Mahindra, Infoedge, Sundaram Finance

Equity Bottom-Up

<ul><li>PNC Infratech Ltd (PNCIL) reported a positive set of Q4FY23 numbers.</li><li>The company reported revenue of Rs 2,115 Cr (up 10% YoY) and EBITDA of Rs 281 Cr (up 25% YoY).</li><li>It posted a PAT of Rs 184 Cr (up 33% YoY). The company registered EBITDA Margins of 13.3% in Q4FY23 (vs. our estimate of 13%) as against 12.8% in Q3FY23.</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>

PNC Infratech Ltd (PNCIL) reported a positive set of Q4FY23 numbers.The company reported revenue of Rs 2,115 Cr (up 10% YoY) and EBITDA of Rs 281 Cr (up 25% YoY).It posted a PAT of Rs 184 Cr (up 33% YoY). The company registered EBITDA Margins of 13.3% in Q4FY23 (vs. our estimate of 13%) as against 12.8% in Q3FY23.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.

PNC Infratech Ltd - Better-Than-Expected Result

India

PNC Infratech Limited operates as an infrastructure construction, development, and management company. The Company constructs highways, bridges, fly-overs, power transmission lines, and airport runways. PNC Infratech also provides construction services for waste management and industrial area development projects.

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PNC Infratech Ltd (PNCL IN)

INFRA-ROAD Q1FY24 - Earnings Preview

Our preferred picks in the sector: PNC Infratech, HG Infra; KNR Construction. We expect road construction companies under our coverage to report...

Axis Direct

Top Sector Ideas - Infra-Road Sector

During the quarter, companies under our coverage reported Revenue/EBITDA/APAT growth of 9%/3%/8% against expectation of 9%/5%/6% YoY backed by...

Axis Direct

Top Picks - Upcoming Monsoon Critical for Broad-Based Recovery - June 2023

Axis Top Picks basket delivered impressive returns of 25% in the last one year, outperforming the benchmark Index NIFTY 50 (12% returns in one...

Axis Direct

HSIE Results Daily: Mahindra & Mahindra, Infoedge, Sundaram Finance

M&M Q4 adjusted PAT at INR 19.3bn came in above our estimate of INR 16.2bn due to higher-than-expected revenue and lower tax rate

HDFC Securities

PNC Infratech Ltd - Better-Than-Expected Result

PNC Infratech Ltd (PNCIL) reported a positive set of Q4FY23 numbers. The company reported revenue of Rs 2,115 Cr (up 10% YoY) and EBITDA of Rs 281...

Axis Direct

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