External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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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

<ul><li>We prefer LTIMindtree (LTIM) within large-cap IT and expect the company to outperform tier-1 IT peers on growth despite challenges in the BFSI vertical</li><li>Since the merger a year back and with the integration process complete, LTIM is set for ‘sustainable growth outperformance’ based on (1) an increase in deal pipeline, driven by advisory/partnership channel (scale linked) and longer-tenured deal wins, (2) strong credentials in high-growth services compared to larger tier-1 peers, (3) client mining prowess (2x growth in USD 10mn+), supported by strong sales efficiency (matching larger peers) and large cross-sell opportunity, (4) enterprise tracker and deal wins pointing to outperformance in insurance, manufacturing, healthcare, travel &amp; hospitality sub-verticals, and (5) medium-term margin uptrend on gross margin improvement, SG&amp;A optimization and stability in senior management following changes during integration.</li><li>Near-term concerns of higher than usual impact of furlough as well as weakness in concentrated BFS portfolio persist</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>

We prefer LTIMindtree (LTIM) within large-cap IT and expect the company to outperform tier-1 IT peers on growth despite challenges in the BFSI verticalSince the merger a year back and with the integration process complete, LTIM is set for ‘sustainable growth outperformance’ based on (1) an increase in deal pipeline, driven by advisory/partnership channel (scale linked) and longer-tenured deal wins, (2) strong credentials in high-growth services compared to larger tier-1 peers, (3) client mining prowess (2x growth in USD 10mn+), supported by strong sales efficiency (matching larger peers) and large cross-sell opportunity, (4) enterprise tracker and deal wins pointing to outperformance in insurance, manufacturing, healthcare, travel &amp; hospitality sub-verticals, and (5) medium-term margin uptrend on gross margin improvement, SG&amp;A optimization and stability in senior management following changes during integration.Near-term concerns of higher than usual impact of furlough as well as weakness in concentrated BFS portfolio persistContent 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.

LTIMindtree (Update): In the Big League. Maintain BUY