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)

BAT’s Possible US$2.5bn ITC Selldown - Will Be Well Flagged but Still Won’t Be an Easy One to Digest

ITC $2bn Placement - Very Well Flagged but Still Won’t Be an Easy One to Digest, Won’t Do an Indigo

ECM Weekly (18th Mar 2024) - ITC, Interglobe (Indigo), MS&AD, GlobalWafer, Belle, Auntea, Trial

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>The company’s Q3FY24 results were below estimates on the operating front.</li><li>The revenue grew by 1% YoY to Rs 16,314 Cr owing to subdued performance in Cigarettes (flat volume growth) on account of high base and continued drag in Agri – down 2% yoY / paper board business – down 10%.</li><li>FMCG revenue grew ~8% YoY owing despite subdued demand conditions led by NPD. </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>

The company’s Q3FY24 results were below estimates on the operating front.The revenue grew by 1% YoY to Rs 16,314 Cr owing to subdued performance in Cigarettes (flat volume growth) on account of high base and continued drag in Agri – down 2% yoY / paper board business – down 10%.FMCG revenue grew ~8% YoY owing despite subdued demand conditions led by NPD. 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.

ITC Ltd - Short Term Hiccup; Maintain BUY