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

<div><div><div><div><ul><li>NALCO Q2FY23 numbers disappointed on the EBITDA front. Consolidated Revenue beat our estimate by 7% (down 3%/8% YoY/QoQ).</li><li>LME Aluminium prices declined by 11%/18% YoY/QoQ in Q2FY23.</li><li>EBITDA came down significantly by 70%/62% YoY/QoQ and missed our estimate by 17% despite the topline beating our estimate, led by inflation across RM, power &amp; fuel and other expenses, all-surpassing our estimates.</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></div></div></div></div>

NALCO Q2FY23 numbers disappointed on the EBITDA front. Consolidated Revenue beat our estimate by 7% (down 3%/8% YoY/QoQ).LME Aluminium prices declined by 11%/18% YoY/QoQ in Q2FY23.EBITDA came down significantly by 70%/62% YoY/QoQ and missed our estimate by 17% despite the topline beating our estimate, led by inflation across RM, power &amp; fuel and other expenses, all-surpassing our estimates.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.

Nalco - High Power Costs Dents Performance; Maintain HOLD

National Aluminium

Nalco - High Power Costs Dents Performance; Maintain HOLD