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>PSP Projects Ltd. (PSPPL) Q3FY24 numbers stood above our expectations, thanks to robust project execution by the company.</li><li>It reported revenue of Rs 705 Cr (up 41% YoY), EBITDA of Rs 70 Cr (up 13% YoY), and APAT of Rs 31 Cr (down 12% YoY).</li><li>The company registered EBITDA Margins of 9.9% in Q3FY24 (vs. our estimate of 12.2%) as against 12.4% in Q3FY23. </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.

PSP Projects Ltd. (PSPPL) Q3FY24 numbers stood above our expectations, thanks to robust project execution by the company.It reported revenue of Rs 705 Cr (up 41% YoY), EBITDA of Rs 70 Cr (up 13% YoY), and APAT of Rs 31 Cr (down 12% YoY).The company registered EBITDA Margins of 9.9% in Q3FY24 (vs. our estimate of 12.2%) as against 12.4% 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.

PSP Projects - EBITDA Miss on High Operating Costs.

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

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

Event-Driven

<ul>
<li>Adani Group's handling of U.S. FCPA investigation disclosures highlights significant lapses in transparency, including delayed and contradictory statements.</li>
<li>Inconsistent disclosures and wrong disclosure about US investigations raising red flags for regulatory compliance and governance.</li>
<li>Search warrants for Sagar Adani, Nephew of Gautam Adani issued in Mar-23, which is not disclosed in fundraising documents as well as Annual Report. </li>
</ul>


Adani Group's handling of U.S. FCPA investigation disclosures highlights significant lapses in transparency, including delayed and contradictory statements.
Inconsistent disclosures and wrong disclosure about US investigations raising red flags for regulatory compliance and governance.
Search warrants for Sagar Adani, Nephew of Gautam Adani issued in Mar-23, which is not disclosed in fundraising documents as well as Annual Report. 


Adani Group's Crucial Disclosure Lapses About Bribery & US Investigation

Forensic Accounting

<ul>
<li>Gautam Adani and executives indicted in U.S. for bribery, fraud, and obstructing justice tied to renewable energy projects worth billions.</li>
<li>Allegations spotlight governance risks, promoter-driven models, and transparency issues in Indian conglomerates, threatening investor trust in Adani Group and renewable energy sectors.</li>
<li>Adani Group issued media statement saying that charges in indictment are baseless and denied.</li>
</ul>


Gautam Adani and executives indicted in U.S. for bribery, fraud, and obstructing justice tied to renewable energy projects worth billions.
Allegations spotlight governance risks, promoter-driven models, and transparency issues in Indian conglomerates, threatening investor trust in Adani Group and renewable energy sectors.
Adani Group issued media statement saying that charges in indictment are baseless and denied.


Adani Group’s Indictment: Bribery, Fraud, and the Global Fallout

Thematic (Sector/Industry)

<ul><li>Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 41% over the last one year, beating the benchmark Nifty 50 index (31.1% return over the same period) by a wide margin.</li><li>Also, it delivered a return of 2.7% in the last month against the 1.1% returns posted by Nifty 50 over the same period.</li><li>A few picks that reported excellent returns included Lupin (17.2%), TVS Motor Company (11.2%), Aurobindo Pharma (9.4%), HCL Technologies (6.7%) and Bharti Airtel (6.5%). </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: We are proud to share that our Axis Top Picks basket delivered impressive returns of 41% over the last one year, beating the benchmark Nifty 50 index (31.1% return over the same period) by a wide margin.Also, it delivered a return of 2.7% in the last month against the 1.1% returns posted by Nifty 50 over the same period.A few picks that reported excellent returns included Lupin (17.2%), TVS Motor Company (11.2%), Aurobindo Pharma (9.4%), HCL Technologies (6.7%) and Bharti Airtel (6.5%). 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 Research Scorecard Report for Aug 2024

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>State Bank of India: SBIN’s earnings were in line with estimates with healthy loan growth (~16% YoY) and stable NIMs, offset by soft deposit growth and elevated credit costs</li><li>Loan growth was strong across segments, offset by a slowdown in the Xpress credit portfolio</li><li>Deposit growth (+8% YoY, -0.3% QoQ) was muted with the CASA ratio dropping to 39% (-45 bps QoQ), in line with industry trends</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.

State Bank of India: SBIN’s earnings were in line with estimates with healthy loan growth (~16% YoY) and stable NIMs, offset by soft deposit growth and elevated credit costsLoan growth was strong across segments, offset by a slowdown in the Xpress credit portfolioDeposit growth (+8% YoY, -0.3% QoQ) was muted with the CASA ratio dropping to 39% (-45 bps QoQ), in line with industry trendsContent 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: State Bank of India, Thermax, Aptus Value Housing Finance India

India

PSP Projects Limited operates as a construction company. The Company offers industrial, institutional, government, and residential projects construction, as well as allied services including planning, designing, and post-construction activities. PSP Projects serves the private and public sectors in India.

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PSP Projects (PSPPL IN)

PSP Projects - EBITDA Miss on High Operating Costs.

PSP Projects Ltd. (PSPPL) Q3FY24 numbers stood above our expectations, thanks to robust project execution by the company.

Axis Direct

Adani Group's Crucial Disclosure Lapses About Bribery & US Investigation

Adani Group's lack of transparency in handling U.S. FCPA investigation disclosures raises concerns about regulatory compliance and governance.

Nimish Maheshwari

Adani Group’s Indictment: Bribery, Fraud, and the Global Fallout

Adani Group faces indictment in U.S. for bribery and fraud in renewable energy projects, raising concerns about governance and transparency in...

Nimish Maheshwari

Axis Research Scorecard Report for Aug 2024

A few picks that reported excellent returns included Lupin (17.2%), TVS Motor Company (11.2%), Aurobindo Pharma (9.4%), HCL Technologies (6.7%) and...

Axis Direct

HSIE Results Daily: State Bank of India, Thermax, Aptus Value Housing Finance India

State Bank of India: SBIN’s earnings were in line with estimates with healthy loan growth (~16% YoY) and stable NIMs, offset by soft deposit growth...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

PSP Projects - EBITDA Miss on High Operating Costs.

PSP Projects Ltd. (PSPPL) Q3FY24 numbers stood above our expectations, thanks to robust project execution by the company.

Axis Direct

Adani Group's Crucial Disclosure Lapses About Bribery & US Investigation

​Adani Group's lack of transparency in handling U.S. FCPA investigation disclosures raises concerns about regulatory compliance and governance.

Nimish Maheshwari

Adani Group’s Indictment: Bribery, Fraud, and the Global Fallout

​Adani Group faces indictment in U.S. for bribery and fraud in renewable energy projects, raising concerns about governance and transparency in...

Nimish Maheshwari

Axis Research Scorecard Report for Aug 2024

A few picks that reported excellent returns included Lupin (17.2%), TVS Motor Company (11.2%), Aurobindo Pharma (9.4%), HCL Technologies (6.7%) and...

Axis Direct

HSIE Results Daily: State Bank of India, Thermax, Aptus Value Housing Finance India

State Bank of India: SBIN’s earnings were in line with estimates with healthy loan growth (~16% YoY) and stable NIMs, offset by soft deposit growth...

HDFC Securities

Adani Group's lack of transparency in handling U.S. FCPA investigation disclosures raises concerns about regulatory compliance and governance.

Adani Group faces indictment in U.S. for bribery and fraud in renewable energy projects, raising concerns about governance and transparency in...