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>RITES Ltd.(RITES)reported a decentset of Q2FY23 numbers with revenue of Rs659 Cr (down13% YoY), supported by revenue growth in all segments except exports, EBIDTA of Rs181Cr (down16% YoY, above estimate), and APAT of Rs140Cr (down20%YoY, above estimate).</li><li>The company registered EBITDA Margins of 27.5%in Q2FY23(our estimate: 25.5%) as against 29.6% in Q2FY22.</li><li>There has been anincreasein other income due to increase in exchange variations earnings &amp; dividend from REMC.</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>

RITES Ltd.(RITES)reported a decentset of Q2FY23 numbers with revenue of Rs659 Cr (down13% YoY), supported by revenue growth in all segments except exports, EBIDTA of Rs181Cr (down16% YoY, above estimate), and APAT of Rs140Cr (down20%YoY, above estimate).The company registered EBITDA Margins of 27.5%in Q2FY23(our estimate: 25.5%) as against 29.6% in Q2FY22.There has been anincreasein other income due to increase in exchange variations earnings &amp; dividend from REMC.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.

RITES Ltd. - Result In Line Estimates, Robust Execution On All Fronts; Upgrade to BUY