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.

Equity Bottom-Up

<ul><li>Polycab has maintained a leadership position in the organized C&amp;W segment with a leading market share.</li><li>With a strong network and re-aligned distribution strategy aided by strong brand recall, the company continues to gain market share in Wires &amp; Cables and improved performance in the FMEG business.</li><li>The management expects strong traction in domestic Cables &amp; Wires, increasing contribution from exports and strong demand led by government spends, private Capex, and increasing real estate demand.</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>

Polycab has maintained a leadership position in the organized C&amp;W segment with a leading market share.With a strong network and re-aligned distribution strategy aided by strong brand recall, the company continues to gain market share in Wires &amp; Cables and improved performance in the FMEG business.The management expects strong traction in domestic Cables &amp; Wires, increasing contribution from exports and strong demand led by government spends, private Capex, and increasing real estate demand.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.

Polycab India - Sustained Growth Momentum

<ul><li>Strong growth in C&amp;W while FMEG witnessed muted growth: Polycab India reported revenues of Rs 3,889 Cr, up 42% YoY, far exceeding our expectations of Rs 3,125 Cr.</li><li>Revenues growth was driven by healthy volume growth in the Cables &amp; Wires segment supported by strong traction in international business.</li><li>Cables &amp; Wires revenue for the quarter grew by 46% YoY to Rs 3,534 Cr, while the FMEG segment grew 3% QoQ during the quarter.</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>

Strong growth in C&amp;W while FMEG witnessed muted growth: Polycab India reported revenues of Rs 3,889 Cr, up 42% YoY, far exceeding our expectations of Rs 3,125 Cr.Revenues growth was driven by healthy volume growth in the Cables &amp; Wires segment supported by strong traction in international business.Cables &amp; Wires revenue for the quarter grew by 46% YoY to Rs 3,534 Cr, while the FMEG segment grew 3% QoQ during the quarter.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.

Polycab India - Robust Growth Led by Strong Demand Environment

Thematic (Sector/Industry)

<ul><li>Cables &amp; Wires demand was buoyant during the quarter, though the overall demand for consumer durables remained moderate.</li><li>The demand was driven by government spends on infrastructure projects along with stale demand from overseas markets.</li><li>Furthermore, it was led by an increase in private Capex spending and real estate up-cycle. The demand for cooling products was tepid (being a seasonally soft quarter) with some brands resorting to discounts to clear inventory. </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>

Cables &amp; Wires demand was buoyant during the quarter, though the overall demand for consumer durables remained moderate.The demand was driven by government spends on infrastructure projects along with stale demand from overseas markets.Furthermore, it was led by an increase in private Capex spending and real estate up-cycle. The demand for cooling products was tepid (being a seasonally soft quarter) with some brands resorting to discounts to clear inventory. 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.

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.

<ul><li>U.S. stocks closed higher Tuesday, with investors primed to take Wednesday’s inflation report in stride, while also hoping for a solid start to second-quarter corporate earnings later this week.</li><li>Treasury yields eased further, after rates pulled back on Monday from recent highs. The 10-year Treasury yield fell 2.6 basis points to 3.980% on Tuesday.</li><li>The June US consumer-price index report to be released on Wednesday is expected to show headline annual inflation falling to 3.1%, having hit a multi-decade peak of 9.1% a year before. </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>

U.S. stocks closed higher Tuesday, with investors primed to take Wednesday’s inflation report in stride, while also hoping for a solid start to second-quarter corporate earnings later this week.Treasury yields eased further, after rates pulled back on Monday from recent highs. The 10-year Treasury yield fell 2.6 basis points to 3.980% on Tuesday.The June US consumer-price index report to be released on Wednesday is expected to show headline annual inflation falling to 3.1%, having hit a multi-decade peak of 9.1% a year before. 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.

<div><div><div><div><ul><li>Demand trends: The overall consumer demand remained tepid during the quarter owing to the uneven weather conditions and unseasonal rains during the summer season.</li><li>As a result, seasonal products such as fans, coolers, and ACs witnessed lacklustre demand in Apr’23 as well as in May’23 while some demand uptick was seen in Jun’23.</li><li>Soft demand amidst higher competitive intensity and inventory built up in anticipation of strong summer restricted any price hikes by OEMs. </li></ul></div></div></div></div><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>

Demand trends: The overall consumer demand remained tepid during the quarter owing to the uneven weather conditions and unseasonal rains during the summer season.As a result, seasonal products such as fans, coolers, and ACs witnessed lacklustre demand in Apr’23 as well as in May’23 while some demand uptick was seen in Jun’23.Soft demand amidst higher competitive intensity and inventory built up in anticipation of strong summer restricted any price hikes by OEMs. 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.

Consumer Durables - Q1FY24 - Earnings Preview

India

Polycab India Limited produces and distributes electronic equipment. The Company offers cables, wires, fans, switches, lighting, junction boxes, circular lids, and pumps. Polycab India serves customers in India.   

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Polycab India (POLYCAB IN)

Polycab India - Sustained Growth Momentum

The management expects strong traction in domestic Cables & Wires, increasing contribution from exports and strong demand led by government spends,...

Axis Direct

Polycab India - Robust Growth Led by Strong Demand Environment

Strong growth in C&W while FMEG witnessed muted growth: Polycab India reported revenues of Rs 3,889 Cr, up 42% YoY, far exceeding our expectations...

Axis Direct

Q2FY24 - Consolidated Earnings Preview

Cables & Wires demand was buoyant during the quarter, though the overall demand for consumer durables remained moderate.Dixon

Axis Direct

Viewpoint: The Daily

Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and positive US markets on July 11.

HDFC Securities

Consumer Durables - Q1FY24 - Earnings Preview

Soft demand amidst higher competitive intensity and inventory built up in anticipation of strong summer restricted any price hikes by OEMs.

Axis Direct

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