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>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

<ul><li>Cement demand momentum moderated in Q3FY24: After witnessing double-digit volume growth in H1FY24, cement demand momentum moderated in Q3FY24.</li><li>This was on account of Diwali festivity, labour shortage, construction ban in NCR, and Assembly election in key States of MP, CG, Rajasthan, and Telangana.</li><li>After witnessing double-digit growth in Oct’23, cement demand moderated sharply in Nov’23 and remained subdued in Dec’23, though a slight pick-up towards the end of the month was observed. </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.

Cement demand momentum moderated in Q3FY24: After witnessing double-digit volume growth in H1FY24, cement demand momentum moderated in Q3FY24.This was on account of Diwali festivity, labour shortage, construction ban in NCR, and Assembly election in key States of MP, CG, Rajasthan, and Telangana.After witnessing double-digit growth in Oct’23, cement demand moderated sharply in Nov’23 and remained subdued in Dec’23, though a slight pick-up towards the end of the month was observed. 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>NEW YEAR PICKS 2024: We are thrilled to announce that we have released the report – NEW YEAR PICKS 2024: New Year, New Horizons, which contains deeply-researched 9 stocks that are best-placed to deliver excellent performance in 2024.</li><li>We strongly urge you to refer to the report here and fortify your investment endeavours further.</li><li>Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 88% in Dec’23.</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.

NEW YEAR PICKS 2024: We are thrilled to announce that we have released the report – NEW YEAR PICKS 2024: New Year, New Horizons, which contains deeply-researched 9 stocks that are best-placed to deliver excellent performance in 2024.We strongly urge you to refer to the report here and fortify your investment endeavours further.Pick of the Week (PoW): POW calls delivered an astounding monthly strike rate of 88% in Dec’23.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 Dec 2023

<ul><li>The companies under our coverage reported Volume/Revenue/EBITDA/APAT growth of 14%/13%/73%/162% YoY against expectation of 13%/12%/75%/165%. </li><li>EBITDA margins improved by 560bps YoY. EBITDA/tonne for the quarter stood at Rs 852, up 60% YoY . </li><li>Realization/tonne was flattish at Rs 5,552 both YoY/QoQ. Cost/tonne stood at Rs 4,701, down 7% YoY and flattish 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 14%/13%/73%/162% YoY against expectation of 13%/12%/75%/165%. EBITDA margins improved by 560bps YoY. EBITDA/tonne for the quarter stood at Rs 852, up 60% YoY . Realization/tonne was flattish at Rs 5,552 both YoY/QoQ. Cost/tonne stood at Rs 4,701, down 7% YoY and flattish 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.

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)

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

Cement - Q3FY24 Earnings Preview

Cement demand momentum moderated in Q3FY24: After witnessing double-digit volume growth in H1FY24, cement demand momentum moderated in Q3FY24.

Axis Direct

Axis Research Scorecard Report for Dec 2023

NEW YEAR PICKS 2024: New Year, New Horizons, which contains deeply-researched 9 stocks that are best-placed to deliver excellent performance in 2024.

Axis Direct

Cement Sector: Q2FY24 Review

The companies under our coverage reported Volume/Revenue/EBITDA/APAT growth of 14%/13%/73%/162% YoY against expectation of 13%/12%/75%/165%

Axis Direct

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