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>Hero Motocorp Ltd. (HMCL) reported a weak set of numbers with a marginal beat on the revenue front while EBITDA/PAT stood below our estimates.</li><li>Revenue (2% beat) grew by 7.4%/8% YoY/QoQ, led by higher Average Sales Price (ASP), beat by 2%, which increased by 8%/5% YoY/QoQ, while sales volumes were almost flat YoY but were up 2.7% QoQ.</li><li>ASP beat was on account of a richer product mix and a higher share of XTEC variants in the entry-level segment.</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>

Hero Motocorp Ltd. (HMCL) reported a weak set of numbers with a marginal beat on the revenue front while EBITDA/PAT stood below our estimates.Revenue (2% beat) grew by 7.4%/8% YoY/QoQ, led by higher Average Sales Price (ASP), beat by 2%, which increased by 8%/5% YoY/QoQ, while sales volumes were almost flat YoY but were up 2.7% QoQ.ASP beat was on account of a richer product mix and a higher share of XTEC variants in the entry-level segment.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.

Hero Motocorp - Weak Numbers with EBITDA Miss; Downgrade to HOLD