External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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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 recently interacted with Campus Activewear’s management</li><li>Our key takeaways from the interaction: (1) assortment continues to get more relevant and focused (now offers ~300 designs vs 500 two years back, top 60-70 designs contribute 50-60% of volumes), (2) bigger bets are being taken on faster-moving sub-categories like sneakers and there is greater focus on open footwear to earn volumes (15% of sales), (3) the issue of channel conflicts is behind (all channels now enjoy fair margins)</li><li>While internal operations have been streamlined (multiple territories consolidated, distribution team strengthened, product portfolio beefed up and new sales channels added), the company is now waiting for the macro to line up from a demand point of view.</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>

We recently interacted with Campus Activewear’s managementOur key takeaways from the interaction: (1) assortment continues to get more relevant and focused (now offers ~300 designs vs 500 two years back, top 60-70 designs contribute 50-60% of volumes), (2) bigger bets are being taken on faster-moving sub-categories like sneakers and there is greater focus on open footwear to earn volumes (15% of sales), (3) the issue of channel conflicts is behind (all channels now enjoy fair margins)While internal operations have been streamlined (multiple territories consolidated, distribution team strengthened, product portfolio beefed up and new sales channels added), the company is now waiting for the macro to line up from a demand point of view.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.

Campus Activewear: Healing and Awaiting a Favourable Macro Environment. NOT RATED