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>HUL reported revenue growth of 11% YoY (4% volume growth) to Rs 14,893 Cr, which stood below our estimates on account of the weak macro environment and tepid FMCG market growth.</li><li>However, Home Care (up 19% YoY) maintained its stellar performance driven by premiumisation and market development, while BPC and F&amp;R were a mixed bag.</li><li>The management reiterated that it has gained market share in over 75% of the portfolio across categories.</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>

HUL reported revenue growth of 11% YoY (4% volume growth) to Rs 14,893 Cr, which stood below our estimates on account of the weak macro environment and tepid FMCG market growth.However, Home Care (up 19% YoY) maintained its stellar performance driven by premiumisation and market development, while BPC and F&amp;R were a mixed bag.The management reiterated that it has gained market share in over 75% of the portfolio across categories.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.

Hindustan Unilever Ltd - Temporary Blip, Focus on Demand Recovery; Maintain BUY