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

Steel Authority of India / Equity Bottom-Up

<ul><li>SAIL delivered weak numbers in Q1FY23. This was largely anticipated due to lower sales volumes owing to traders de-stocking and higher coking coal costs in the quarter.</li><li>Saleable steel production (up 9% YoY/down 8% QoQ) stood firm, slightly above our estimate.</li><li>However, saleable steel sales (down 4%/32% YoY/QoQ) fell more than our expectation, a miss of 12% vs. our estimate.</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>

SAIL delivered weak numbers in Q1FY23. This was largely anticipated due to lower sales volumes owing to traders de-stocking and higher coking coal costs in the quarter.Saleable steel production (up 9% YoY/down 8% QoQ) stood firm, slightly above our estimate.However, saleable steel sales (down 4%/32% YoY/QoQ) fell more than our expectation, a miss of 12% vs. our estimate.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.

Sail - Outlook Challenging; Maintain HOLD