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.

Equity Bottom-Up

<ul><li>RITES Ltd. reported a mixed set of Q2FY24 numbers with revenue of Rs 582Cr (down12% YoY),due to poor performance in the Exports business and lower revenue in the Quality Assurance segment.</li><li>Its EBITDA stood at Rs 138Cr (down % YoY), and APAT at Rs 110Cr (down 12%YoY).</li><li>The company registered EBITDA Margins of 23.7% in Q2FY24 (our estimate: 27.8%) as against 27.5% in Q2FY23. </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. reported a mixed set of Q2FY24 numbers with revenue of Rs 582Cr (down12% YoY),due to poor performance in the Exports business and lower revenue in the Quality Assurance segment.Its EBITDA stood at Rs 138Cr (down % YoY), and APAT at Rs 110Cr (down 12%YoY).The company registered EBITDA Margins of 23.7% in Q2FY24 (our estimate: 27.8%) as against 27.5% in Q2FY23. 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 - Weak Result with Margins Under Pressure; Retain HOLD