External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<ul><li>We spoke to the management of Tata Elxsi (TELX) for a business update and have analysed the annual report – key highlights are: (1) strong growth momentum in the OEM segment (both JLR and others) within the Transportation vertical</li><li>(2) JLR (top client) growth expectation is driving growth visibility for FY25E</li><li>(3) high growth in the Transportation OEM segment can be offset by Healthcare &amp; Life-sciences and Media &amp; Communication verticals</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.

We spoke to the management of Tata Elxsi (TELX) for a business update and have analysed the annual report – key highlights are: (1) strong growth momentum in the OEM segment (both JLR and others) within the Transportation vertical(2) JLR (top client) growth expectation is driving growth visibility for FY25E(3) high growth in the Transportation OEM segment can be offset by Healthcare &amp; Life-sciences and Media &amp; Communication verticalsContent 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 Elxsi: Improving Growth Visibility, High Valuations. Upgrade to REDUCE

<ul><li>Tata Elxsi (TELX) posted a soft quarter with a ramp-down in a Media &amp; Communication client and a delayed program ramp-up in the Transportation vertical</li><li>TELX’s growth has normalized, impacted by market-share loss in the transportation vertical (50% of its revenue) on account of a higher mix of Tier-1s vs</li><li>OEMs, increased captive intensity, business mix challenges in the Healthcare vertical and macro factors impacting media &amp; telco enterprise client spend</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 Elxsi (TELX) posted a soft quarter with a ramp-down in a Media &amp; Communication client and a delayed program ramp-up in the Transportation verticalTELX’s growth has normalized, impacted by market-share loss in the transportation vertical (50% of its revenue) on account of a higher mix of Tier-1s vsOEMs, increased captive intensity, business mix challenges in the Healthcare vertical and macro factors impacting media &amp; telco enterprise client spendContent 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 Elxsi (Q4FY24): High Quality, Low Growth, High Valuation. Maintain SELL

Thematic (Sector/Industry)

<ul><li>Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)</li><li>Mirroring trends of previous quarters, demand recovery remains gradual with the urban market leading growth with premium portfolio sustaining outperformance over the mass portfolio</li><li>Given the benign input cost environment, local competitive intensity remains high</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.

Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)Mirroring trends of previous quarters, demand recovery remains gradual with the urban market leading growth with premium portfolio sustaining outperformance over the mass portfolioGiven the benign input cost environment, local competitive intensity remains highContent 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: Hindustan Unilever, Axis Bank, Indian Hotels

HSIE Results Daily: Hindustan Unilever, Axis Bank,

<ul><li>IT sector (coverage universe) growth is expected to bottom out in Q4FY24 and recover ‘gradually’ in FY25E</li><li>The slowdown in macro is still a baseline scenario and lower discretionary spending and slower conversion from TCV to revenue is a feature and not a bug—at least in the near term—and deals will be focused on cost optimisation</li><li>Growth divergence will continue within the sector and guidance for FY25E is likely to factor in improved H2 performance.</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.

IT sector (coverage universe) growth is expected to bottom out in Q4FY24 and recover ‘gradually’ in FY25EThe slowdown in macro is still a baseline scenario and lower discretionary spending and slower conversion from TCV to revenue is a feature and not a bug—at least in the near term—and deals will be focused on cost optimisationGrowth divergence will continue within the sector and guidance for FY25E is likely to factor in improved H2 performance.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 Sector (Q4FY24E Results Preview): Transition period from ‘gradually’ to ‘eventually’

India

Tata Elxsi Limited manufactures computers and workstations besides providing system design, software development and integration services. The Group supplies its products to a number of industries, including the automotive, metals, consumer products, finance, IT & Communications, energy, chemicals, engineering, pharmaceuticals, entertainment and agro industries.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Tata Elxsi Ltd (TELX IN)

Tata Elxsi: Improving Growth Visibility, High Valuations. Upgrade to REDUCE

High certainty of double-digit growth in FY25E driven by client and sub-segment skew and normalisation in the non-transportation business ahead are...

HDFC Securities

Tata Elxsi (Q4FY24): High Quality, Low Growth, High Valuation. Maintain SELL

Tata Elxsi (TELX) posted a soft quarter with a ramp-down in a Media & Communication client and a delayed program ramp-up in the Transportation...

HDFC Securities

HSIE Results Daily: Hindustan Unilever, Axis Bank, Indian Hotels

Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)

HDFC Securities

HSIE Results Daily: Hindustan Unilever, Axis Bank,

Hindustan Unilever: HUL reported 2% UVG with flat value growth as pricing remained negative (passing on softening RM benefits to consumers)

HDFC Securities

IT Sector (Q4FY24E Results Preview): Transition period from ‘gradually’ to ‘eventually’

IT sector (coverage universe) growth is expected to bottom out in Q4FY24 and recover ‘gradually’ in FY25E. The slowdown in macro is still a...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)