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>VBL delivered robust all-round performance, led by strong volume, and realization growth across regions and markets as the company continued its distribution expansion, strong traction from newly acquired territories (south and west) and scaling up of Sting energy drink.</li><li>Despite raw material inflation, gross margins improved on account of early stocking of key raw materials, selective price hikes, rationalization of discounts, and improved realization led by higher salience of the high-margin Sting portfolio.</li><li>EBITDA margins improved on strong operating leverage benefits.</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>

VBL delivered robust all-round performance, led by strong volume, and realization growth across regions and markets as the company continued its distribution expansion, strong traction from newly acquired territories (south and west) and scaling up of Sting energy drink.Despite raw material inflation, gross margins improved on account of early stocking of key raw materials, selective price hikes, rationalization of discounts, and improved realization led by higher salience of the high-margin Sting portfolio.EBITDA margins improved on strong operating leverage benefits.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.

Varun Beverages Ltd - Robust Performance; Maintain BUY