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. 

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.

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>Upstream Aluminium CoP: In Q1FY25, the CoP was down by 2% QoQ, largely because of a drop in coal and carbon costs.</li><li>In Q2FY25, it will remain flat or slightly increase by 1% QoQ, as spot auction coal prices tend to go up during monsoon and caustic soda prices have also gone up a little bit.</li><li>Upstream Aluminium shipments at 329kt stood down by 4% YoY, but revenue rose by 10% YoY to Rs 8,839 Cr, led by higher LME Aluminium prices. </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>

Upstream Aluminium CoP: In Q1FY25, the CoP was down by 2% QoQ, largely because of a drop in coal and carbon costs.In Q2FY25, it will remain flat or slightly increase by 1% QoQ, as spot auction coal prices tend to go up during monsoon and caustic soda prices have also gone up a little bit.Upstream Aluminium shipments at 329kt stood down by 4% YoY, but revenue rose by 10% YoY to Rs 8,839 Cr, led by higher LME Aluminium prices. 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.

Hindalco Industries Ltd - Decent Q1, Volatile Macros