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>Deal wins for FY21 stood at $781 Mn, showcasing a growth of 11% YoY and the highest ever in the history of Coforge. The company has also added 45 clients during FY2021.</li><li>Revenue growth in FY21 stood industry-leading at 11.4%. The company also reported healthy expansion in its operating margins</li><li>We recommend a BUY rating on the stock and assign a 37 x P/E multiple to its FY24E earnings of Rs 184/share to arrive at a TP of Rs 6,870/share, implying an upside of 15% from CMP.</li></ul><div class="content-highlight"><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></div>

Deal wins for FY21 stood at $781 Mn, showcasing a growth of 11% YoY and the highest ever in the history of Coforge. The company has also added 45 clients during FY2021.Revenue growth in FY21 stood industry-leading at 11.4%. The company also reported healthy expansion in its operating marginsWe recommend a BUY rating on the stock and assign a 37 x P/E multiple to its FY24E earnings of Rs 184/share to arrive at a TP of Rs 6,870/share, implying an upside of 15% from CMP.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.

Coforge: Strong Broad Based Growth; Capitalizing Robust Demand to Sustain Growth