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

<ul><li>Strong volume growth: In Q4FY25, the company achieved a 14% YoY increase in volume, reaching 11.90 mtpa, driven by higher trade volumes and a 7% YoY increase in premium product volumes, further strengthening its market leadership.</li><li>It maintained its dominant position across key markets.</li><li>The company’s capacity expansion plans remain on schedule, and they are expected to support sustained volume growth in the future. </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 volume growth: In Q4FY25, the company achieved a 14% YoY increase in volume, reaching 11.90 mtpa, driven by higher trade volumes and a 7% YoY increase in premium product volumes, further strengthening its market leadership.It maintained its dominant position across key markets.The company’s capacity expansion plans remain on schedule, and they are expected to support sustained volume growth in the future. 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.

ACC Limited - Mix Set of Numbers; Maintain BUY

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>
<a href="https://www.smartkarma.com/entities/ambuja-cements-ltd" target="_blank" data-smartkarma-citation="entities:14745:1" rel="noopener">Ambuja Cements (ACEM IN)</a>, established in 1983 by traders Narotam Sekhsaria and Suresh Neotia, leveraged strategic foresight to become a premier Indian cement giant within the diversified Adani Group.</li>
<li>In 2022, Adani acquired Ambuja Cement at INR 385/share, valuing it at INR 49,620 crore ($6.4 billion), at EBITDA/ton levels (INR900-INR1,000) similar to the company's current performance.</li>
<li>Ambuja Cement is strategically positioned to achieve a substantial 44% increase in its cement production capacity by FY28, reaching a total of 140 MTPA from the current 97 MTPA.</li>
</ul>



Ambuja Cements (ACEM IN), established in 1983 by traders Narotam Sekhsaria and Suresh Neotia, leveraged strategic foresight to become a premier Indian cement giant within the diversified Adani Group.
In 2022, Adani acquired Ambuja Cement at INR 385/share, valuing it at INR 49,620 crore ($6.4 billion), at EBITDA/ton levels (INR900-INR1,000) similar to the company's current performance.
Ambuja Cement is strategically positioned to achieve a substantial 44% increase in its cement production capacity by FY28, reaching a total of 140 MTPA from the current 97 MTPA.


The Beat Ideas: Adani Cements:  Massive 140 MTPA Capacity Expansion, A Roadmap to FY28

<ul><li>Strong volume growth: In Q3FY25, the company achieved a 20% YoY increase in volume, reaching 10.7 mtpa, driven by higher trade volumes and an 11% YoY increase in premium product volumes, further strengthening its market leadership.</li><li>It maintained its dominant position across key markets. The company’s capacity expansion plans remain on schedule, and they are expected to support sustained volume growth in the future. I</li><li>t is projected to deliver a volume growth of 14% CAGR over FY23-FY26E. </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 volume growth: In Q3FY25, the company achieved a 20% YoY increase in volume, reaching 10.7 mtpa, driven by higher trade volumes and an 11% YoY increase in premium product volumes, further strengthening its market leadership.It maintained its dominant position across key markets. The company’s capacity expansion plans remain on schedule, and they are expected to support sustained volume growth in the future. It is projected to deliver a volume growth of 14% CAGR over FY23-FY26E. 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.

ACC Limited - Beat Led By Incentive & Higher Other Income

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Event-Driven

<ul>
<li>Adani Group's handling of U.S. FCPA investigation disclosures highlights significant lapses in transparency, including delayed and contradictory statements.</li>
<li>Inconsistent disclosures and wrong disclosure about US investigations raising red flags for regulatory compliance and governance.</li>
<li>Search warrants for Sagar Adani, Nephew of Gautam Adani issued in Mar-23, which is not disclosed in fundraising documents as well as Annual Report. </li>
</ul>


Adani Group's handling of U.S. FCPA investigation disclosures highlights significant lapses in transparency, including delayed and contradictory statements.
Inconsistent disclosures and wrong disclosure about US investigations raising red flags for regulatory compliance and governance.
Search warrants for Sagar Adani, Nephew of Gautam Adani issued in Mar-23, which is not disclosed in fundraising documents as well as Annual Report. 


Adani Group's Crucial Disclosure Lapses About Bribery & US Investigation

Forensic Accounting

<ul>
<li>Gautam Adani and executives indicted in U.S. for bribery, fraud, and obstructing justice tied to renewable energy projects worth billions.</li>
<li>Allegations spotlight governance risks, promoter-driven models, and transparency issues in Indian conglomerates, threatening investor trust in Adani Group and renewable energy sectors.</li>
<li>Adani Group issued media statement saying that charges in indictment are baseless and denied.</li>
</ul>


Gautam Adani and executives indicted in U.S. for bribery, fraud, and obstructing justice tied to renewable energy projects worth billions.
Allegations spotlight governance risks, promoter-driven models, and transparency issues in Indian conglomerates, threatening investor trust in Adani Group and renewable energy sectors.
Adani Group issued media statement saying that charges in indictment are baseless and denied.


Adani Group’s Indictment: Bribery, Fraud, and the Global Fallout

India

ACC Limited  manufactures a range of cements and blended cements. The Company also manufactures gypsum and refractory products such as Brown Tabular Alumina. The Company provides turnkey and application consulting services for setting up and operating cement plants and refractories. The Company owns cement plants throughout India.

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ACC Ltd (ACC IN)

ACC Limited - Mix Set of Numbers; Maintain BUY

The company’s capacity expansion plans remain on schedule, and they are expected to support sustained volume growth in the future.

Axis Direct

The Beat Ideas: Adani Cements: Massive 140 MTPA Capacity Expansion, A Roadmap to FY28

Ambuja Cements, founded by Sekhsaria and Neotia, was acquired by Adani in 2022 for INR 49,620 crore, with plans to increase production capacity to...

Sudarshan Bhandari

ACC Limited - Beat Led By Incentive & Higher Other Income

In Q3FY25, the company achieved a 20% YoY increase in volume, reaching 10.7 mtpa, driven by higher trade volumes and an 11% YoY increase in premium...

Axis Direct

Adani Group's Crucial Disclosure Lapses About Bribery & US Investigation

Adani Group's lack of transparency in handling U.S. FCPA investigation disclosures raises concerns about regulatory compliance and governance.

Nimish Maheshwari

Adani Group’s Indictment: Bribery, Fraud, and the Global Fallout

Adani Group faces indictment in U.S. for bribery and fraud in renewable energy projects, raising concerns about governance and transparency in...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ACC Limited - Mix Set of Numbers; Maintain BUY

The company’s capacity expansion plans remain on schedule, and they are expected to support sustained volume growth in the future.

Axis Direct

The Beat Ideas: Adani Cements: Massive 140 MTPA Capacity Expansion, A Roadmap to FY28

​Ambuja Cements, founded by Sekhsaria and Neotia, was acquired by Adani in 2022 for INR 49,620 crore, with plans to increase production capacity to...

Sudarshan Bhandari

ACC Limited - Beat Led By Incentive & Higher Other Income

In Q3FY25, the company achieved a 20% YoY increase in volume, reaching 10.7 mtpa, driven by higher trade volumes and an 11% YoY increase in premium...

Axis Direct

Adani Group's Crucial Disclosure Lapses About Bribery & US Investigation

​Adani Group's lack of transparency in handling U.S. FCPA investigation disclosures raises concerns about regulatory compliance and governance.

Nimish Maheshwari

Adani Group’s Indictment: Bribery, Fraud, and the Global Fallout

​Adani Group faces indictment in U.S. for bribery and fraud in renewable energy projects, raising concerns about governance and transparency in...

Nimish Maheshwari

Ambuja Cements, founded by Sekhsaria and Neotia, was acquired by Adani in 2022 for INR 49,620 crore, with plans to increase production capacity to...

Adani Group's lack of transparency in handling U.S. FCPA investigation disclosures raises concerns about regulatory compliance and governance.

Adani Group faces indictment in U.S. for bribery and fraud in renewable energy projects, raising concerns about governance and transparency in...