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.

Thematic (Sector/Industry)

India Consumer discretionary / Thematic (Sector/Industry)

<ul><li>The companies under our coverage reported Revenue/EBITDA/PAT growth of 4.7%/4%/2.2% YoY, below expectations of 5.5%/8.9%/10.6%.</li><li>This lacklustre performance was due to weakness in passenger vehicles (while SUVs continue to grow) and Commercial vehicles.</li><li>The pressure on margins was majorly due to lower operational inefficiencies, higher discounting and lower domestic wholesale sales volumes. </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>

The companies under our coverage reported Revenue/EBITDA/PAT growth of 4.7%/4%/2.2% YoY, below expectations of 5.5%/8.9%/10.6%.This lacklustre performance was due to weakness in passenger vehicles (while SUVs continue to grow) and Commercial vehicles.The pressure on margins was majorly due to lower operational inefficiencies, higher discounting and lower domestic wholesale sales volumes. 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.

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