External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

Can Fin Homes is a housing finance company promoted by Canara Bank, focusing primarily on individual housing loans for middle-aged first-time homebuyers in the affordable and middle-income sectors. The company provides housing loans for construction, purchase, and renovation, as well as non-housing loans like mortgage and top-up loans. Headquartered in Bengaluru, Karnataka, India, the company was founded in 1987.

<ul><li>IT Migration Disrupts Near-Term Execution; FY27 Guidance Retained: In Q2, CANF’s disbursements were materially impacted by the phased implementation of the new IT platform across branches, even as underlying housing loan demand remained resilient across geographies.</li><li>The migration resulted in disbursements at affected branches declining by ~70- 75% during the month of implementation, before recovering to 80-90% of their earlier levels in the following month.</li><li>This impact was pronounced over Aug-Sep’26, wherein the majority of CANF’s branches migrated to the new system. </li></ul>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.

IT Migration Disrupts Near-Term Execution; FY27 Guidance Retained: In Q2, CANF’s disbursements were materially impacted by the phased implementation of the new IT platform across branches, even as underlying housing loan demand remained resilient across geographies.The migration resulted in disbursements at affected branches declining by ~70- 75% during the month of implementation, before recovering to 80-90% of their earlier levels in the following month.This impact was pronounced over Aug-Sep’26, wherein the majority of CANF’s branches migrated to the new system. 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.

Can Fin Homes Ltd - In-Line Quarter; H2 Recovery Key to Delivering Growth Guidance

HCLTech is a global technology services and consulting company that provides a comprehensive range of software and infrastructure solutions. The company offers IT and business services, engineering and R&D services, and HCLSoftware products, focusing on digital, cloud, AI, and engineering solutions to help enterprises transform their businesses. HCLTech is headquartered in Noida, Uttar Pradesh, India, and was spun out in 1991.

<ul><li>Strong Services Performance, Software Remains a Drag: In CC terms, Retail &amp; CPG led segmental growth with 14.0% YoY growth, followed by Financial Services (7.1%), Technology &amp; Services (5.9%), Manufacturing (3.9%), and Public Services (1.2%).</li><li>Life Sciences &amp; Healthcare and Telecom, Media, Publishing &amp; Entertainment both declined by 2.1% YoY.</li><li>Overall, IT &amp; Business Services grew 2.7% QoQ and 4.4% YoY, while Engineering &amp; R&amp;D Services grew 4.1% QoQ and 2.1% YoY. </li></ul>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.

Strong Services Performance, Software Remains a Drag: In CC terms, Retail &amp; CPG led segmental growth with 14.0% YoY growth, followed by Financial Services (7.1%), Technology &amp; Services (5.9%), Manufacturing (3.9%), and Public Services (1.2%).Life Sciences &amp; Healthcare and Telecom, Media, Publishing &amp; Entertainment both declined by 2.1% YoY.Overall, IT &amp; Business Services grew 2.7% QoQ and 4.4% YoY, while Engineering &amp; R&amp;D Services grew 4.1% QoQ and 2.1% YoY. 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.

HCL Technologies Ltd - EBIT Margin Outperformance

Thematic (Sector/Industry)

<ul><li>Indian Healthcare and Diagnostic Services industry is experiencing a multi-year growth phase driven by expanding chronic care requirements, rising awareness of early disease detection, and increasing access to quality care.</li><li>The total diagnostic services market in India, estimated at Rs 86,000–87,000 Cr in FY24, is projected to grow at a CAGR of 10%–12% to reach Rs 1,27,500–1,37,500 Cr by FY28, with regional markets like Eastern India expanding at 10.5%– 12.5% CAGR.</li><li>Concurrently, the specialised renal care and dialysis segment is expanding at a 19.3% CAGR to reach ~$198 Cr by 2029. Growth is primarily driven by three key factors: 1) Rising disease burden and lifestyle conditions (over 3,25,000 new ESRD patients annually in India requiring non-discretionary care); 2) Accelerated consumer shift toward accredited, organised providers, offering digital turnarounds and high accuracy; and 3) Expanding government healthcare schemes (e.g., PM-JAY) and private health insurance penetration. </li></ul>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.

Indian Healthcare and Diagnostic Services industry is experiencing a multi-year growth phase driven by expanding chronic care requirements, rising awareness of early disease detection, and increasing access to quality care.The total diagnostic services market in India, estimated at Rs 86,000–87,000 Cr in FY24, is projected to grow at a CAGR of 10%–12% to reach Rs 1,27,500–1,37,500 Cr by FY28, with regional markets like Eastern India expanding at 10.5%– 12.5% CAGR.Concurrently, the specialised renal care and dialysis segment is expanding at a 19.3% CAGR to reach ~$198 Cr by 2029. Growth is primarily driven by three key factors: 1) Rising disease burden and lifestyle conditions (over 3,25,000 new ESRD patients annually in India requiring non-discretionary care); 2) Accelerated consumer shift toward accredited, organised providers, offering digital turnarounds and high accuracy; and 3) Expanding government healthcare schemes (e.g., PM-JAY) and private health insurance penetration. 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.

Diagnostics Sector - Secular Up-Cycle in Healthcare & Diagnostics

Avenue Supermarts Limited, operating as D-Mart, is an Indian retail corporation that runs a chain of hypermarkets and supermarkets. The company offers a wide range of basic home and personal products, including food, groceries, toiletries, beauty products, garments, kitchenware, and home appliances. Avenue Supermarts was founded in 2000 and is headquartered in Mumbai, Maharashtra, India.

<ul><li>Revenue Remains Resilient: D-Mart reported revenue of Rs 19,644 Cr in Q2FY27, registering 17.8% YoY growth, driven by higher like-for-like growth and store additions.</li><li>Mature stores (&gt;24 months) grew by 9.5% during the quarter, compared with 6.8% in Q2FY26, reflecting stronger sales at existing stores.</li><li>The company added 15 stores during the quarter, taking its total store count to 518 and strengthening its presence across markets. </li></ul>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.

Revenue Remains Resilient: D-Mart reported revenue of Rs 19,644 Cr in Q2FY27, registering 17.8% YoY growth, driven by higher like-for-like growth and store additions.Mature stores (&gt;24 months) grew by 9.5% during the quarter, compared with 6.8% in Q2FY26, reflecting stronger sales at existing stores.The company added 15 stores during the quarter, taking its total store count to 518 and strengthening its presence across markets. 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.

Avenue Supermarts Ltd. - Strong LFL Growth; Cost Inflation Hit Profitability

Aarti Drugs is a prominent Indian pharmaceutical company specializing in the manufacturing of Active Pharmaceutical Ingredients (APIs), pharmaceutical intermediates, and specialty chemicals. It produces over 50 API molecules and 80+ finished products for various therapeutic segments, including anti-protozoals, anti-inflammatory, antibiotics, and antidiabetics, serving both domestic and international markets. The company was founded in 1984 and is headquartered in Mumbai, Maharashtra, India.

<ul><li>Aarti Drugs Limited is a leading Indian pharmaceutical and chemical company that makes bulk raw materials for medicines.</li><li>Established in 1984, Aarti Drugs Limited supplies essential pharmaceutical ingredients to leading drug manufacturers across more than 100 countries, rather than selling medicines directly to consumers.</li><li>The company operates advanced manufacturing facilities and research centres across India, producing essential pharmaceutical ingredients used in medicines for pain relief, infections, diabetes, and other health conditions. </li></ul>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.

Aarti Drugs Limited is a leading Indian pharmaceutical and chemical company that makes bulk raw materials for medicines.Established in 1984, Aarti Drugs Limited supplies essential pharmaceutical ingredients to leading drug manufacturers across more than 100 countries, rather than selling medicines directly to consumers.The company operates advanced manufacturing facilities and research centres across India, producing essential pharmaceutical ingredients used in medicines for pain relief, infections, diabetes, and other health conditions. 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.

Pick of the Week: Aarti Drugs Ltd - 10th October, 2026