External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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>Tata Communications (TCOM) reported weak results with consolidated EBITDA declining 1% QoQ (5% miss) and margins contracting 60bp QoQ to 19.4%.</li><li>The reported revenue/EBITDA were boosted by INR865m prior period revenue recognition.</li><li>Reported data revenue grew 3% QoQ (inline) with a modest 2.5% QoQ growth in core-connectivity and ~4% QoQ growth in digital portfolio, driven by 34% QoQ growth in Incubation.</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.

Tata Communications (TCOM) reported weak results with consolidated EBITDA declining 1% QoQ (5% miss) and margins contracting 60bp QoQ to 19.4%.The reported revenue/EBITDA were boosted by INR865m prior period revenue recognition.Reported data revenue grew 3% QoQ (inline) with a modest 2.5% QoQ growth in core-connectivity and ~4% QoQ growth in digital portfolio, driven by 34% QoQ growth in Incubation.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.

Tata Communications - Subdued Results on Weak Core-Connectivity Growth

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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>Tata Communications’ (TCom) H1FY25 revenue print was muted due to subdued orderbook in FY24, and longer deal conversion cycle.</li><li>However, it has built a large sales funnel, which started showing benefits in H1FY25 with a few very large deal wins, and orderbook expanding by 25%.</li><li>Further, new sales forces also started contributing to funnel, and it could help accelerate order booking.</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.

Tata Communications’ (TCom) H1FY25 revenue print was muted due to subdued orderbook in FY24, and longer deal conversion cycle.However, it has built a large sales funnel, which started showing benefits in H1FY25 with a few very large deal wins, and orderbook expanding by 25%.Further, new sales forces also started contributing to funnel, and it could help accelerate order booking.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.

Tata Communication - Warming up for Growth…

<ul><li>Motilal Oswal's research report on Tata Communications We attended TCOM’s analyst meet, where management presented its GTM ‘product-to-platform’ strategy and discussed about the expanding growth in new products/portfolios and geographies.</li><li>Below are the key highlights:  Management reiterated its ambition to double data revenue by FY27 to INR280b (at 18% revenue CAGR), driven by the DPS segment that is likely to contribute more than 60% of data revenue.</li><li>This will require higher capex and opex, totaling ~USD300m in FY25E, and is projected to increase with a capex-to-sales range of 10-11%.</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.

Motilal Oswal's research report on Tata Communications We attended TCOM’s analyst meet, where management presented its GTM ‘product-to-platform’ strategy and discussed about the expanding growth in new products/portfolios and geographies.Below are the key highlights:  Management reiterated its ambition to double data revenue by FY27 to INR280b (at 18% revenue CAGR), driven by the DPS segment that is likely to contribute more than 60% of data revenue.This will require higher capex and opex, totaling ~USD300m in FY25E, and is projected to increase with a capex-to-sales range of 10-11%.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.

Tata Communications - Focusing on Digital Platform Growth

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Yesterday, with earnings, <a href="https://www.smartkarma.com/entities/tata-motors-ltd" target="_blank" data-smartkarma-citation="entities:216:1" rel="noopener">Tata Motors Ltd (TTMT IN)</a> announced that it would delist its ADS, making an application on or around 13 January.</li>
<li>This sounds relatively benign because since 2004 when the ADS was listed, local funding capacity has increased substantially. It may no longer be needed. </li>
<li>But it is MUCH more interesting than that. There is lots of fun to be had here. </li>
</ul>


Yesterday, with earnings, Tata Motors Ltd (TTMT IN) announced that it would delist its ADS, making an application on or around 13 January.
This sounds relatively benign because since 2004 when the ADS was listed, local funding capacity has increased substantially. It may no longer be needed. 
But it is MUCH more interesting than that. There is lots of fun to be had here. 


Tata Motors ADS Delisting - Here We Go Again - Lots of Fun To Be Had!

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

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

Thematic (Sector/Industry)

<ul>
<li>Tata Communications Divests INR 330 Crores ATM Business to TSI</li>
<li>Tata Motors to Separate Passenger and Commercial Vehicles Business Segments</li>
<li>LTIMindtree Opens 6,500 Sq. ft. Innovation Hub in Houston, Texas</li>
</ul>


Tata Communications Divests INR 330 Crores ATM Business to TSI
Tata Motors to Separate Passenger and Commercial Vehicles Business Segments
LTIMindtree Opens 6,500 Sq. ft. Innovation Hub in Houston, Texas


# 71 India Insight: Tata Comm Divest Business, LTI Innovation Hub, Tata Motors Separates PV Business

India

Tata Communications Limited provides telecommunications services. The Company provides international telephone, telex and telegraphy services, international maritime mobile communications, INTELSAT business service and bureau fax and t-fax services. Tata Communications also provides internet access, electronic mail and electronic data interchange services.

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Tata Communications (TCOM IN)

Tata Communications - Subdued Results on Weak Core-Connectivity Growth

Tata Communications (TCOM) reported weak results with consolidated EBITDA declining 1% QoQ (5% miss) and margins contracting 60bp QoQ to 19.4%.

Motilal Oswal

Tata Communication - Warming up for Growth…

Tata Communications’ (TCom) H1FY25 revenue print was muted due to subdued orderbook in FY24, and longer deal conversion cycle.

ICICI Securities Limited

Tata Communications - Focusing on Digital Platform Growth

This will require higher capex and opex, totaling ~USD300m in FY25E, and is projected to increase with a capex-to-sales range of 10-11%.

Motilal Oswal

Tata Motors ADS Delisting - Here We Go Again - Lots of Fun To Be Had!

Tata Motors will delist its ADS and eliminate its programme. Delisting will be late January. Elimination up to 6mos later. That means extraordinary...

Travis Lundy

# 71 India Insight: Tata Comm Divest Business, LTI Innovation Hub, Tata Motors Separates PV Business

Tata Communications sells ATM business, Tata Motors to separate vehicle segments, LTIMindtree opens innovation hub in Houston.

Sudarshan Bhandari

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Tata Communications - Subdued Results on Weak Core-Connectivity Growth

Tata Communications (TCOM) reported weak results with consolidated EBITDA declining 1% QoQ (5% miss) and margins contracting 60bp QoQ to 19.4%.

Motilal Oswal

Tata Communication - Warming up for Growth…

Tata Communications’ (TCom) H1FY25 revenue print was muted due to subdued orderbook in FY24, and longer deal conversion cycle.

ICICI Securities Limited

Tata Communications - Focusing on Digital Platform Growth

This will require higher capex and opex, totaling ~USD300m in FY25E, and is projected to increase with a capex-to-sales range of 10-11%.

Motilal Oswal

Tata Motors ADS Delisting - Here We Go Again - Lots of Fun To Be Had!

Tata Motors will delist its ADS and eliminate its programme. Delisting will be late January. Elimination up to 6mos later. That means extraordinary...

Travis Lundy

# 71 India Insight: Tata Comm Divest Business, LTI Innovation Hub, Tata Motors Separates PV Business

​Tata Communications sells ATM business, Tata Motors to separate vehicle segments, LTIMindtree opens innovation hub in Houston.

Sudarshan Bhandari

Tata Communications sells ATM business, Tata Motors to separate vehicle segments, LTIMindtree opens innovation hub in Houston.