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

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.

Thematic (Sector/Industry)

<ul><li>U.S. stocks closed higher Tuesday, with investors primed to take Wednesday’s inflation report in stride, while also hoping for a solid start to second-quarter corporate earnings later this week.</li><li>Treasury yields eased further, after rates pulled back on Monday from recent highs. The 10-year Treasury yield fell 2.6 basis points to 3.980% on Tuesday.</li><li>The June US consumer-price index report to be released on Wednesday is expected to show headline annual inflation falling to 3.1%, having hit a multi-decade peak of 9.1% a year before. </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.

U.S. stocks closed higher Tuesday, with investors primed to take Wednesday’s inflation report in stride, while also hoping for a solid start to second-quarter corporate earnings later this week.Treasury yields eased further, after rates pulled back on Monday from recent highs. The 10-year Treasury yield fell 2.6 basis points to 3.980% on Tuesday.The June US consumer-price index report to be released on Wednesday is expected to show headline annual inflation falling to 3.1%, having hit a multi-decade peak of 9.1% a year before. 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>Tata Communications (TCOM) is the leading global digital ecosystem enabler.</li><li>It provides its clientele with state-of-the-art solutions across a wide range of communication, collaboration, cloud, mobility, connected solutions, network and data centre services.</li><li>Topline at | 4431 crore, was up 6.2% YoY &amp; 2.8% QoQ, driven by data revenues up ~11.2% YoY &amp; 4.6% QoQ) at | 3493 crore</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) is the leading global digital ecosystem enabler.It provides its clientele with state-of-the-art solutions across a wide range of communication, collaboration, cloud, mobility, connected solutions, network and data centre services.Topline at | 4431 crore, was up 6.2% YoY &amp; 2.8% QoQ, driven by data revenues up ~11.2% YoY &amp; 4.6% QoQ) at | 3493 croreContent 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) - Steady Show…

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

Viewpoint: The Daily

Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and positive US markets on July 11.

HDFC Securities

Tata Communications (TCOM) - Steady Show…

EBITDA came in at | 1130 crore, up 1.5% YoY, 4.9% QoQ. The consequent margin was at 25.5% (down 117 bps YoY, up 51 bps QoQ) led by voice margins,...

ICICI Securities Limited

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