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>The Axis Top Picks Basket returned a solid return of 10% in July’23 against the 3% return posted by Nifty 50, beating the benchmark by a wide margin.</li><li>Over the last one year, the basket has gained 32%. Moreover, we are happy to inform you that our Top Picks Basket has delivered an impressive return of 202% since its inception (May’20), well above the 113% return that NIFTY 50 delivered over the same period.</li><li>In light of this, we continue to believe in our thematic approach to Top Picks selection. </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>

The Axis Top Picks Basket returned a solid return of 10% in July’23 against the 3% return posted by Nifty 50, beating the benchmark by a wide margin.Over the last one year, the basket has gained 32%. Moreover, we are happy to inform you that our Top Picks Basket has delivered an impressive return of 202% since its inception (May’20), well above the 113% return that NIFTY 50 delivered 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.

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>Reliance Industries: Our ADD rating on Reliance Industries (RIL) with a price target of INR 2,700/sh is premised on (1) recovery in the O2C businesses, (2) EBITDA growth in the digital business, driven by improvement in ARPU, subscriber addition, and new revenue streams, and (3) potential for further value unlocking in the digital and retail businesses</li><li>RIL’s consolidated EBITDA at INR 381bn (+1% YoY, -1% QoQ, HSIE: INR 382bn) and APAT at INR 160bn (-11% YoY, -17% QoQ) came in below our estimates</li><li>Earnings in Q1 were largely impacted by weaker-than-expected O2C profitability. ICICI Bank: ICICI Bank (ICICIBC) reported yet another impressive quarter on the back of strong loan growth (+18% YoY), treasury gains, and continued robust asset quality</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>

Reliance Industries: Our ADD rating on Reliance Industries (RIL) with a price target of INR 2,700/sh is premised on (1) recovery in the O2C businesses, (2) EBITDA growth in the digital business, driven by improvement in ARPU, subscriber addition, and new revenue streams, and (3) potential for further value unlocking in the digital and retail businessesRIL’s consolidated EBITDA at INR 381bn (+1% YoY, -1% QoQ, HSIE: INR 382bn) and APAT at INR 160bn (-11% YoY, -17% QoQ) came in below our estimatesEarnings in Q1 were largely impacted by weaker-than-expected O2C profitability. ICICI Bank: ICICI Bank (ICICIBC) reported yet another impressive quarter on the back of strong loan growth (+18% YoY), treasury gains, and continued robust asset qualityContent 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.

HSIE Results Daily: Reliance Industries, ICICI Bank, Kotak Mahindra Bank

<ul><li><span style="font-size: var(--content-font-size);">Q1FY24 earnings season was marked by a) Strong domestic macroeconomic environment, b) Sequential improvement in high-frequency indicators, 3) Cool-off in key commodity prices, 4) Easing inflation expectations, and 5) Growth challenges in export-oriented demand.</span></li></ul><div><ul><li>Moreover, domestic-facing sectors are enjoying economic recovery as well.</li><li>Considering these factors collectively, the Q1FY24 earnings season is likely to deliver positive surprises on the margins front. </li></ul></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>

Q1FY24 earnings season was marked by a) Strong domestic macroeconomic environment, b) Sequential improvement in high-frequency indicators, 3) Cool-off in key commodity prices, 4) Easing inflation expectations, and 5) Growth challenges in export-oriented demand.Moreover, domestic-facing sectors are enjoying economic recovery as well.Considering these factors collectively, the Q1FY24 earnings season is likely to deliver positive surprises on the margins front. 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>Q1 is a seasonally weak quarter, despite which we expect banks under our coverage to continue delivering a strong credit growth of ~15-16% YoY in Q1FY24.</li><li>For banks, Credit growth moderation was a central topic of discussions in Q4FY23.</li><li>However, systemic data as published by the RBI (as of Jun’23) has a different story to tell. </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>

Q1 is a seasonally weak quarter, despite which we expect banks under our coverage to continue delivering a strong credit growth of ~15-16% YoY in Q1FY24.For banks, Credit growth moderation was a central topic of discussions in Q4FY23.However, systemic data as published by the RBI (as of Jun’23) has a different story to tell. 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.

<ul><li>Q4FY23 earnings season saw an overall in-line performance, with wide divergences across sectors and companies</li><li>Aggregate revenue/PAT grew by 13%/9% YoY across the HSIE coverage (~215 stocks), their two-year CAGR being 19%/15%</li><li>Our coverage universe saw strong YoY revenue growth in auto, lending financials, industrials, IT, cement and power sectors</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>

Q4FY23 earnings season saw an overall in-line performance, with wide divergences across sectors and companiesAggregate revenue/PAT grew by 13%/9% YoY across the HSIE coverage (~215 stocks), their two-year CAGR being 19%/15%Our coverage universe saw strong YoY revenue growth in auto, lending financials, industrials, IT, cement and power sectorsContent 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.

India Equity Strategy - Banks Continue to Lead the Pack; Profitability Improves for Most Sectors

India

ICICI Bank Limited operates as a bank. The Bank offers saving accounts, loans, debit, credit cards, insurance, investments, mortgages, and online banking services. ICICI Bank serves customers worldwide.

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ICICI Bank Ltd (ICICIBC IN)

Axis Top Picks - Aug 2023

The Axis Top Picks Basket returned a solid return of 10% in July’23 against the 3% return posted by Nifty 50, beating the benchmark by a wide margin.

Axis Direct

HSIE Results Daily: Reliance Industries, ICICI Bank, Kotak Mahindra Bank

RIL’s consolidated EBITDA at INR 381bn (+1% YoY, -1% QoQ, HSIE: INR 382bn) and APAT at INR 160bn (-11% YoY, -17% QoQ) came in below our estimates

HDFC Securities

Q1FY24 Consolidated Preview

Considering these factors collectively, the Q1FY24 earnings season is likely to deliver positive surprises on the margins front.

Axis Direct

BFSI Q1FY24 - Earnings Preview

Q1 is a seasonally weak quarter, despite which we expect banks under our coverage to continue delivering a strong credit growth of ~15-16% YoY in...

Axis Direct

India Equity Strategy - Banks Continue to Lead the Pack; Profitability Improves for Most Sectors

Q4FY23 earnings season saw an overall in-line performance, with wide divergences across sectors and companies. Aggregate revenue/PAT grew by 13%/9%...

HDFC Securities

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