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. 

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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.

Thematic (Sector/Industry)

India Materials / Thematic (Sector/Industry)

<ul><li>Steel Q2FY23 Preview – Margins to hit a trough: We expect Steel companies under our coverage to deliver weak Q2FY23 numbers.</li><li>Revenue is likely to decline YoY mainly due to 1) Lower sales realisation on account of lower steel prices (domestic Steel HRC prices have corrected by 25% from the peak in Apr’22), 2) Weak exports due to the 15% export duty imposed from May’22, the lower sales realisation will be only partially offset by 3) QoQ increase in sales volumes led by re-stocking by traders as Q1FY23 sales volumes were impacted by sharp de-stocking by traders.</li><li>We expect EBITDA to show a steeper fall in Q2FY23, a de-growth of ~40% QoQ and ~65% YoY, primarily on account of a fall in the topline and higher coking coal consumption costs in the quarter.</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>

Steel Q2FY23 Preview – Margins to hit a trough: We expect Steel companies under our coverage to deliver weak Q2FY23 numbers.Revenue is likely to decline YoY mainly due to 1) Lower sales realisation on account of lower steel prices (domestic Steel HRC prices have corrected by 25% from the peak in Apr’22), 2) Weak exports due to the 15% export duty imposed from May’22, the lower sales realisation will be only partially offset by 3) QoQ increase in sales volumes led by re-stocking by traders as Q1FY23 sales volumes were impacted by sharp de-stocking by traders.We expect EBITDA to show a steeper fall in Q2FY23, a de-growth of ~40% QoQ and ~65% YoY, primarily on account of a fall in the topline and higher coking coal consumption costs in the quarter.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.

Metals & Mining Q2FY23 Results Preview