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. 

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)

<ul><li>On 4th June 2024, three election results were due 1) Loksabha election 2024, 2) State election results of Andra pradesh, and 3) State election results of Odisha.</li><li>In all three elections, including the central as well as state, the ruling party NDA has won the mandate and will easily be able to form the government.</li><li>However, at the central level, it fell short of market expectations. As per the latest number, NDA won 292 seats which is well behind the exit poll numbers but still above the minimum mark of 272 (The minimum number to form the government).</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.

On 4th June 2024, three election results were due 1) Loksabha election 2024, 2) State election results of Andra pradesh, and 3) State election results of Odisha.In all three elections, including the central as well as state, the ruling party NDA has won the mandate and will easily be able to form the government.However, at the central level, it fell short of market expectations. As per the latest number, NDA won 292 seats which is well behind the exit poll numbers but still above the minimum mark of 272 (The minimum number to form the government).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.

Equity Investment Strategy: Post Lok Sabha Election 2024

<ul><li>The Axis Top Picks Basket delivered an excellent return of 5.4% in the last three months against the 2.5% return posted by Nifty 50, thereby beating the benchmark by a wide margin of 2.9%.</li><li>Over the last one year, the basket has gained 43.2%.</li><li>Moreover, it gives us immense joy to inform you that our Top Picks Basket has delivered an impressive return of 284% since its inception (May’20), which stands well above the 143% return delivered by the NIFTY 50 index over the same period. </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.

The Axis Top Picks Basket delivered an excellent return of 5.4% in the last three months against the 2.5% return posted by Nifty 50, thereby beating the benchmark by a wide margin of 2.9%.Over the last one year, the basket has gained 43.2%.Moreover, it gives us immense joy to inform you that our Top Picks Basket has delivered an impressive return of 284% since its inception (May’20), which stands well above the 143% return delivered by the NIFTY 50 index over the same period. 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.

Axis Top Picks for the Month of June 2024

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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>We believe Nestle has the potential for double-digit revenue growth in the medium term, unlike peers struggling with high single-digit growth, owing to several factors: (a) ramping up its rural distribution network, currently under-indexed, (b) focusing on substantial growth in its out-of-home channel, (c) prioritizing the salience of NPD and category creation efforts, (d) investing in capacity expansion (with a capex of INR 65bn over CY20-25) to align with long-term penetration-led volume growth objectives, (e) India’s prioritization as one of the top 10 markets despite contributing only 2% of global revenue</li><li>We also expect the EBITDA margin to expand c100bps from FY24-27 to 25%, despite being at a decadal high, owing to operational scale improvements, premiumization, and cost optimization initiatives</li><li>We upgrade Nestle to ADD from REDUCE with a TP of INR 2,750 (70x FY26 EPS) and recommend investors to accumulate the stock amidst any negative news flows.</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.

We believe Nestle has the potential for double-digit revenue growth in the medium term, unlike peers struggling with high single-digit growth, owing to several factors: (a) ramping up its rural distribution network, currently under-indexed, (b) focusing on substantial growth in its out-of-home channel, (c) prioritizing the salience of NPD and category creation efforts, (d) investing in capacity expansion (with a capex of INR 65bn over CY20-25) to align with long-term penetration-led volume growth objectives, (e) India’s prioritization as one of the top 10 markets despite contributing only 2% of global revenueWe also expect the EBITDA margin to expand c100bps from FY24-27 to 25%, despite being at a decadal high, owing to operational scale improvements, premiumization, and cost optimization initiativesWe upgrade Nestle to ADD from REDUCE with a TP of INR 2,750 (70x FY26 EPS) and recommend investors to accumulate the stock amidst any negative news flows.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.

Nestle: Best Proxy on Great Indian Consumption Story. Upgrade to ADD

<ul><li>The Axis Top Picks Basket delivered an excellent return of 5.8% in Apr’24 against the 1.2% return posted by Nifty 50, thereby beating the benchmark by a wide margin of 4.6%.</li><li>Over the last one year, the basket has gained 49%. Moreover, it gives us immense joy to inform you that our Top Picks Basket has delivered an impressive return of 284% since its inception (May’20), which stands well above the 144% return delivered by the NIFTY 50 index over the same period.</li><li>In light of this, we continue to believe in our thematic approach to Top Picks selection.</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.

The Axis Top Picks Basket delivered an excellent return of 5.8% in Apr’24 against the 1.2% return posted by Nifty 50, thereby beating the benchmark by a wide margin of 4.6%.Over the last one year, the basket has gained 49%. Moreover, it gives us immense joy to inform you that our Top Picks Basket has delivered an impressive return of 284% since its inception (May’20), which stands well above the 144% return delivered by the NIFTY 50 index over the same period.In light of this, we continue to believe in our thematic approach to Top Picks selection.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.

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/honasa-consumer-ltd" target="_blank" data-smartkarma-citation="entities:36117:1" rel="noopener">Honasa Consumer (HONASA IN)</a> raised about US$200m in its India IPO. Its pre-IPO investors will be released from its IPO linked lockup soon.</li>
<li>HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments.</li>
<li>In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.</li>
</ul>



Honasa Consumer (HONASA IN) raised about US$200m in its India IPO. Its pre-IPO investors will be released from its IPO linked lockup soon.
HC’s product portfolio includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments.
In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.


Honasa Consumer IPO Lock-Up Expiry - US$500m+ Lockup Expiry with Everyone Well in the Money

India

Nestle India Ltd. manufactures brand name milk products and other food products. The Company's products include Everyday dairy whitener, milk powder and ghee, Milkmaid sweetened condensed milk and Cerelac weaning foods. Nestle's beverages include Nescafe and Sunrise coffee and Nesfit enriched glucose powder. Nestle also manufactures Maggi noodles, soups and sauces.

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Nestle India (NEST IN)

Equity Investment Strategy: Post Lok Sabha Election 2024

On 4th June 2024, three election results were due 1) Loksabha election 2024, 2) State election results of Andra pradesh, and 3) State election...

Axis Direct

Axis Top Picks for the Month of June 2024

The Axis Top Picks Basket delivered an excellent return of 5.4% in the last three months against the 2.5% return posted by Nifty 50, thereby...

Axis Direct

Nestle: Best Proxy on Great Indian Consumption Story. Upgrade to ADD

We upgrade Nestle to ADD from REDUCE with a TP of INR 2,750 (70x FY26 EPS) and recommend investors to accumulate the stock amidst any negative news...

HDFC Securities

Axis Top Picks - May 2024

The Axis Top Picks Basket delivered an excellent return of 5.8% in Apr’24 against the 1.2% return posted by Nifty 50, thereby beating the benchmark...

Axis Direct

Honasa Consumer IPO Lock-Up Expiry - US$500m+ Lockup Expiry with Everyone Well in the Money

Honasa Consumer (HONASA IN) raised about US$200m in its India IPO. Its pre-IPO investors will be released from its IPO linked lockup soon.

Sumeet Singh

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