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>The companies under our coverage reported Volume/Revenue/EBITDA/APAT growth of 8%/10%/57%/106% YoY against expectations of 6%/9%/50%/90%.</li><li>EBITDA margins improved by 590bps/370bps YoY/QoQ driven by higher realization and lower operating costs. EBITDA/tonne for the quarter stood at Rs 1075, up 50%/26% YoY/QoQ.</li><li>Realization/tonne was higher by 2% each at Rs 5,687 both YoY/QoQ. Cost/tonne stood at Rs 4,614, down 5%/2% YoY/QoQ.</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.

The companies under our coverage reported Volume/Revenue/EBITDA/APAT growth of 8%/10%/57%/106% YoY against expectations of 6%/9%/50%/90%.EBITDA margins improved by 590bps/370bps YoY/QoQ driven by higher realization and lower operating costs. EBITDA/tonne for the quarter stood at Rs 1075, up 50%/26% YoY/QoQ.Realization/tonne was higher by 2% each at Rs 5,687 both YoY/QoQ. Cost/tonne stood at Rs 4,614, down 5%/2% YoY/QoQ.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>Post Budget Analysis and Stock Ideas: It gives us immense joy to announce our Post Budget Analysis and Stock Ideas for 2024-25.</li><li>The report contains carefully handpicked companies that are well-placed to benefit from this year’s Interim Budget.</li><li>NEW YEAR PICKS 2024: In Dec’23, we released the report – NEW YEAR PICKS 2024: New Year, New Horizons, which contains deeplyresearched 9 stocks that are best-placed to deliver excellent performance in 2024. </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.

Post Budget Analysis and Stock Ideas: It gives us immense joy to announce our Post Budget Analysis and Stock Ideas for 2024-25.The report contains carefully handpicked companies that are well-placed to benefit from this year’s Interim Budget.NEW YEAR PICKS 2024: In Dec’23, we released the report – NEW YEAR PICKS 2024: New Year, New Horizons, which contains deeplyresearched 9 stocks that are best-placed to deliver excellent performance in 2024. 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>Post Budget Analysis and Stock Ideas: It gives us immense joy to announce our Post Budget Analysis and Stock Ideas for 2024-25.</li><li>The report contains carefully handpicked companies that are well-placed to benefit from this year’s Interim Budget.</li><li>We strongly recommend to explore the report here. NEW YEAR PICKS 2024: In Dec’23, we released the report – NEW YEAR PICKS 2024: New Year, New Horizons, which contains deeplyresearched 9 stocks that are best-placed to deliver excellent performance in 2024. </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.

Post Budget Analysis and Stock Ideas: It gives us immense joy to announce our Post Budget Analysis and Stock Ideas for 2024-25.The report contains carefully handpicked companies that are well-placed to benefit from this year’s Interim Budget.We strongly recommend to explore the report here. NEW YEAR PICKS 2024: In Dec’23, we released the report – NEW YEAR PICKS 2024: New Year, New Horizons, which contains deeplyresearched 9 stocks that are best-placed to deliver excellent performance in 2024. 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 Jan 2024

<ul><li>Our honourable Finance Minister Nirmala Sitaraman presented the Interim Budget 2024-25 today.</li><li>Being the “vote of account” budget before the Union Election 2024, the expectations of the budget were naturally low.</li><li>The finance minister delivered along the expected lines with an emphasis on the continuation of higher capital expenditure on top of the medium-term flavour of populism.</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.

Our honourable Finance Minister Nirmala Sitaraman presented the Interim Budget 2024-25 today.Being the “vote of account” budget before the Union Election 2024, the expectations of the budget were naturally low.The finance minister delivered along the expected lines with an emphasis on the continuation of higher capital expenditure on top of the medium-term flavour of populism.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.

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>Growth tapers after six consecutive quarters of robust show: We estimate cement demand cooled off to ~7% YoY in Q3FY24, after delivering ~9-16% growth rate (average 12%) in the preceding six quarters</li><li>While demand remained strong in Oct, it slipped off in Nov/Dec—attributable to multiple reasons: elections in four states, flooding in the southern region, sand issues in certain states, and festivals</li><li>Thus, as against general expectations of demand firming up post-monsoon by ~10-15% QoQ, cement sales recovered a modest 4% QoQ, leading to demand tapering.</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.

Growth tapers after six consecutive quarters of robust show: We estimate cement demand cooled off to ~7% YoY in Q3FY24, after delivering ~9-16% growth rate (average 12%) in the preceding six quartersWhile demand remained strong in Oct, it slipped off in Nov/Dec—attributable to multiple reasons: elections in four states, flooding in the southern region, sand issues in certain states, and festivalsThus, as against general expectations of demand firming up post-monsoon by ~10-15% QoQ, cement sales recovered a modest 4% QoQ, leading to demand tapering.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.

Cement (Q3FY24 Results Preview): Industry Margin Surges to a Nine-Quarter High

India

Ultra Tech Cement Ltd. produces a wide range of cement products. This Company represents the cement operations of Larsen & Toubro which were spun-off into a separate entity in which Grasim Industries holds a majority interest.

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Ultratech Cement (UTCEM IN)

Top Sector Ideas - Cement Q3FY24

The companies under our coverage reported Volume/Revenue/EBITDA/APAT growth of 8%/10%/57%/106% YoY against expectations of 6%/9%/50%/90%.

Axis Direct

RESEARCH SCORECARD - 31 January 2024

Post Budget Analysis and Stock Ideas: It gives us immense joy to announce our Post Budget Analysis and Stock Ideas for 2024-25.

Axis Direct

Axis Research Scorecard Report for Jan 2024

Post Budget Analysis and Stock Ideas: It gives us immense joy to announce our Post Budget Analysis and Stock Ideas for 2024-25.

Axis Direct

Post Budget Analysis and Stock Ideas

The finance minister delivered along the expected lines with an emphasis on the continuation of higher capital expenditure on top of the medium...

Axis Direct

Cement (Q3FY24 Results Preview): Industry Margin Surges to a Nine-Quarter High

We estimate cement demand cooled off to ~7% YoY in Q3FY24, after delivering ~9-16% growth rate (average 12%) in the preceding six quarters

HDFC Securities

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