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

<ul><li>NALCO reported a weak set of numbers with Revenue/EBITDA/PAT missing our estimates.</li><li>Revenue at Rs 3,178 Cr fell by 16%/13% YoY/QoQ led by a drop in the average LME Aluminium prices which declined by 22%/5% YoY/QoQ in Q1FY24.</li><li>Revenue missed our/consensus estimate by 6%/2% most probably due to lower-than-expected Alumina sales. </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>

NALCO reported a weak set of numbers with Revenue/EBITDA/PAT missing our estimates.Revenue at Rs 3,178 Cr fell by 16%/13% YoY/QoQ led by a drop in the average LME Aluminium prices which declined by 22%/5% YoY/QoQ in Q1FY24.Revenue missed our/consensus estimate by 6%/2% most probably due to lower-than-expected Alumina sales. 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.

National Aluminium

Nalco - Weak Q1FY24; Downgrade to HOLD