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 Q4FY24, the CoP stood flat QoQ. In Q1FY25 the CoP is expected to come down by another ~1%-2% QoQ led by softness in coal prices.</li><li>Upstream Aluminium shipments and revenues improved by 4% and 5% YoY at 337kt and Rs 8,469 Cr, while EBITDA/t jumped up by 17%/21% YoY/QoQ to $967/t, led by lower input costs. </li><li>Aluminium downstream: EBITDA/t recovered QoQ at $174/t, up 14%/27% YoY/QoQ in-line with management guidance. </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 Q4FY24, the CoP stood flat QoQ. In Q1FY25 the CoP is expected to come down by another ~1%-2% QoQ led by softness in coal prices.Upstream Aluminium shipments and revenues improved by 4% and 5% YoY at 337kt and Rs 8,469 Cr, while EBITDA/t jumped up by 17%/21% YoY/QoQ to $967/t, led by lower input costs. Aluminium downstream: EBITDA/t recovered QoQ at $174/t, up 14%/27% YoY/QoQ in-line with management guidance. 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 - Robust Q4 & Good Outlook, But Large Part of Value Is Priced In