External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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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.

Equity Bottom-Up

<ul><li>BRIT Q3FY23 Results were robust, beating our/ street estimates on margins as lower raw material cost and better cost efficiency led to better-than-expected gross margin expansion.</li><li>However, the management has attributed that gross margins expansion will be limited as the forward contract on wheat is largely exhausted and going ahead it will procure wheat at prevailing market rates.</li><li>On a medium term basis management remains optimistic on market share gains coupled with a fall in key raw material prices will drive the company’s top line and the bottom line moving forward.</li></ul><p><em>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.</em></p>

BRIT Q3FY23 Results were robust, beating our/ street estimates on margins as lower raw material cost and better cost efficiency led to better-than-expected gross margin expansion.However, the management has attributed that gross margins expansion will be limited as the forward contract on wheat is largely exhausted and going ahead it will procure wheat at prevailing market rates.On a medium term basis management remains optimistic on market share gains coupled with a fall in key raw material prices will drive the company’s top line and the bottom line moving forward.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.

Britannia Industries - Robust Performance in Challenging Times