External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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.

Thematic (Sector/Industry)

<ul><li>We expect our consumer coverage to report revenue growth in mid-single-digits (6% yoy), driven by volume growth.</li><li>At an aggregate level, we expect revenue/EBITDA/net income growth of 5.6/6.3/6.7% respectively in 1QFY25.</li><li>Our ground checks suggest that the demand environment for FMCG products has started gradually improving because of (1) improving volume growth trends in rural areas on the back of a favourable base and the reducing impact of inflation</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 expect our consumer coverage to report revenue growth in mid-single-digits (6% yoy), driven by volume growth.At an aggregate level, we expect revenue/EBITDA/net income growth of 5.6/6.3/6.7% respectively in 1QFY25.Our ground checks suggest that the demand environment for FMCG products has started gradually improving because of (1) improving volume growth trends in rural areas on the back of a favourable base and the reducing impact of inflationContent 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.

FMCG, QSR & Alco Bev (Q1FY25 Results Preview): On an improving trajectory

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Tata Hitachi Targets Increased Market Share Amid Chinese Competition, Plans Manufacturing Expansion</li>
<li>Railways to Receive PLI Boost, Aiming to Reduce Import Dependency and Foster Local Manufacturing</li>
<li>India's Coal Production Surges 14% in June, Reaching 84.63 Million Tonnes, Boosting Sector Efficiency</li>
</ul>


Tata Hitachi Targets Increased Market Share Amid Chinese Competition, Plans Manufacturing Expansion
Railways to Receive PLI Boost, Aiming to Reduce Import Dependency and Foster Local Manufacturing
India's Coal Production Surges 14% in June, Reaching 84.63 Million Tonnes, Boosting Sector Efficiency


#23 India Insight: Tata Hitachi Market Share, Patanjali Acquires Non-Food Business, ITC Exports

<ul>
<li>Goldman Sachs: Coalition Management Key for BJP as Economic Stability Persists</li>
<li>
<a href="https://www.smartkarma.com/entities/zee-entertainment-enterprises" target="_blank" data-smartkarma-citation="entities:19466:1" rel="noopener">Zee Entertainment Enterprises (Z IN)</a> to Raise Rs. 2,000 Crore Following Sony Deal Fallout, <a href="https://www.smartkarma.com/entities/spicejet-ltd" target="_blank" data-smartkarma-citation="entities:5266:1" rel="noopener">Spicejet Ltd (SJET IN)</a> is also planning to raise funds in coming months</li>
<li>RBI Approves <a href="https://www.smartkarma.com/entities/kotak-mahindra-bank-ltd" target="_blank" data-smartkarma-citation="entities:126:1" rel="noopener">Kotak Mahindra Bank (KMB IN)</a>’s 70% Stake Sale in Insurance Arm to Zurich Insurance</li>
</ul>


Goldman Sachs: Coalition Management Key for BJP as Economic Stability Persists

Zee Entertainment Enterprises (Z IN) to Raise Rs. 2,000 Crore Following Sony Deal Fallout, Spicejet Ltd (SJET IN) is also planning to raise funds in coming months
RBI Approves Kotak Mahindra Bank (KMB IN)’s 70% Stake Sale in Insurance Arm to Zurich Insurance


#9 India Insight: Goldman Sachs on India Election, Zee& SpiceJet Fundraise, ITC Demerger

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.

Equity Bottom-Up

<ul><li>Marginal Miss on Topline: The company’s Q4FY24 overall results were inline with estimates, though there was marginal miss on revenue.</li><li>This was on account of subdued performance in Agri and Paper board business. However, the cigarettes (~2-3% volume growth), FMCG (up 7% YoY) and Hotel (up 15% YoY) businesses maintained their growth momentum.</li><li>EBITDA declined by 1% YoY owing to subdued performance in Agri and paper board business. </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.

Marginal Miss on Topline: The company’s Q4FY24 overall results were inline with estimates, though there was marginal miss on revenue.This was on account of subdued performance in Agri and Paper board business. However, the cigarettes (~2-3% volume growth), FMCG (up 7% YoY) and Hotel (up 15% YoY) businesses maintained their growth momentum.EBITDA declined by 1% YoY owing to subdued performance in Agri and paper board business. 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.

ITC Ltd - Marginal Miss On Topline; Maintain BUY

<ul>
<li>VBL has a history of commanding high growth through acquisitions, product portfolio and geographical expansions and operating leverage</li>
<li>Varun is now focusing on interesting geographies and products which will aid its next level of growth</li>
<li>There could be more than bigger success stories like Sting for Varun Beverages if it can repeat history</li>
</ul>


VBL has a history of commanding high growth through acquisitions, product portfolio and geographical expansions and operating leverage
Varun is now focusing on interesting geographies and products which will aid its next level of growth
There could be more than bigger success stories like Sting for Varun Beverages if it can repeat history


What Next for Varun Beverages: The Next Leg of Growth Drivers

India

ITC Limited, a member of BAT Group of UK, is a holding company, which has a diversified presence in Cigarettes, Hotels, Paperboards & Specialty Papers, Packaging, Agri Business, Packaged Foods & Confectionery, Branded Apparel, Greeting Cards and other FMCG products.

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ITC Ltd (ITC IN)

FMCG, QSR & Alco Bev (Q1FY25 Results Preview): On an improving trajectory

We expect our consumer coverage to report revenue growth in mid-single-digits (6% yoy), driven by volume growth. At an aggregate level, we expect...

HDFC Securities

#9 India Insight: Goldman Sachs on India Election, Zee& SpiceJet Fundraise, ITC Demerger

Goldman Sachs highlights importance of coalition management for BJP amid economic stability; Zee and Spicejet to raise funds, RBI approves Kotak...

Sudarshan Bhandari

ITC Ltd - Marginal Miss On Topline; Maintain BUY

Marginal Miss on Topline: The company’s Q4FY24 overall results were inline with estimates, though there was marginal miss on revenue.

Axis Direct

What Next for Varun Beverages: The Next Leg of Growth Drivers

Varun Beverage's Next Leg of Growth Drivers can re-write multiple success stories similar to Sting. Here is what will derive Varun Beverage in the...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

FMCG, QSR & Alco Bev (Q1FY25 Results Preview): On an improving trajectory

We expect our consumer coverage to report revenue growth in mid-single-digits (6% yoy), driven by volume growth. At an aggregate level, we expect...

HDFC Securities

#23 India Insight: Tata Hitachi Market Share, Patanjali Acquires Non-Food Business, ITC Exports

​Tata Hitachi aims for growth against Chinese competition, Railways to boost local manufacturing, India's coal production up 14% in June.

Sudarshan Bhandari

#9 India Insight: Goldman Sachs on India Election, Zee& SpiceJet Fundraise, ITC Demerger

​Goldman Sachs highlights importance of coalition management for BJP amid economic stability; Zee and Spicejet to raise funds, RBI approves Kotak...

Sudarshan Bhandari

ITC Ltd - Marginal Miss On Topline; Maintain BUY

Marginal Miss on Topline: The company’s Q4FY24 overall results were inline with estimates, though there was marginal miss on revenue.

Axis Direct

What Next for Varun Beverages: The Next Leg of Growth Drivers

Varun Beverage's Next Leg of Growth Drivers can re-write multiple success stories similar to Sting. Here is what will derive Varun Beverage in the...

Sudarshan Bhandari

Tata Hitachi aims for growth against Chinese competition, Railways to boost local manufacturing, India's coal production up 14% in June.

Goldman Sachs highlights importance of coalition management for BJP amid economic stability; Zee and Spicejet to raise funds, RBI approves Kotak...