External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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

<p>Lastly, ordering has been muted and cornered by unlisted peers, and we expect a pick-up from Q4FY22 with listed players winning a larger part of ordering. Q3FY22 mixed quarter: Unseasonal rains, NCR NGT ban, delays in appointed date, and a low contribution from Jal Jeevan mission orders have impacted Q3FY22 execution. On a case-by-case basis, the performance may differ based on order mix and appointed date. This is also the quarter in which some companies may continue to make their balance sheets leaner: (1) Ashoka sales of ACL toll assets (INR5bn write-off); (2) KNR monetisation of HAM asset to Cube; (3) Dilip monetisation of HAM assets to Cube; (4) LT refinancing of Hyderabad Metro debt; and (5) KPTL/JMC concluding Kohima asset sale/progress on restructuring of road asset.</p><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>

Lastly, ordering has been muted and cornered by unlisted peers, and we expect a pick-up from Q4FY22 with listed players winning a larger part of ordering. Q3FY22 mixed quarter: Unseasonal rains, NCR NGT ban, delays in appointed date, and a low contribution from Jal Jeevan mission orders have impacted Q3FY22 execution. On a case-by-case basis, the performance may differ based on order mix and appointed date. This is also the quarter in which some companies may continue to make their balance sheets leaner: (1) Ashoka sales of ACL toll assets (INR5bn write-off); (2) KNR monetisation of HAM asset to Cube; (3) Dilip monetisation of HAM assets to Cube; (4) LT refinancing of Hyderabad Metro debt; and (5) KPTL/JMC concluding Kohima asset sale/progress on restructuring of road asset.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.

Industrials (Q3FY22 Results Preview): Mixed quarter

Cummins India

Industrials (Q3FY22 Results Preview): Mixed quarter