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>Axis Top Picks basket delivered flattish returns (+0.2%) in a highly volatile Sep’22 which reported a rather mixed performance across sectors and style indices.</li><li>While the NIFTY 50 index declined by over 4% during the month, our Top Picks basket outperformed the index by a superior margin, showcasing its resilience one more time.</li><li>Moreover, since its inception in May'20, Our Top Picks basket has delivered an impressive return of 143%, which stands significantly higher than the 84% return reported by NIFTY 50 over the same period.</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>

Axis Top Picks basket delivered flattish returns (+0.2%) in a highly volatile Sep’22 which reported a rather mixed performance across sectors and style indices.While the NIFTY 50 index declined by over 4% during the month, our Top Picks basket outperformed the index by a superior margin, showcasing its resilience one more time.Moreover, since its inception in May'20, Our Top Picks basket has delivered an impressive return of 143%, which stands significantly higher than the 84% return reported by NIFTY 50 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 - Oct 2022 - Earnings Commentary & Festival Demand to Drive the Market

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.

<div><div><div><ul><li>State Bank of India: Despite healthy loan growth (~11% YoY) and stable NIMs (3.1%), State Bank of India’s (SBI) earnings missed estimates, with PAT at INR91bn, impacted by higher credit costs at 1.1% (annualised).</li></ul><div><div><div><ul><li>Bandhan Bank: Bandhan Bank’s Q4FY22 earnings were significantly ahead of our estimates, driven by strong pick-up in advances (+14% YoY), stronger margin (8.7%), and negligible credit costs.</li></ul><div><div><div><ul><li>Aditya Birla Capital: A year since articulating its ambitious FY24 roadmap, ABCL’s journey to drive consolidated return ratios closer to franchise potential seems on track, with consistent execution across businesses.</li></ul></div></div></div></div></div></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>

State Bank of India: Despite healthy loan growth (~11% YoY) and stable NIMs (3.1%), State Bank of India’s (SBI) earnings missed estimates, with PAT at INR91bn, impacted by higher credit costs at 1.1% (annualised).Bandhan Bank: Bandhan Bank’s Q4FY22 earnings were significantly ahead of our estimates, driven by strong pick-up in advances (+14% YoY), stronger margin (8.7%), and negligible credit costs.Aditya Birla Capital: A year since articulating its ambitious FY24 roadmap, ABCL’s journey to drive consolidated return ratios closer to franchise potential seems on track, with consistent execution across businesses.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.

HSIE Results Daily: State Bank of India, Bandhan Bank, Aditya Birla Capital, APL Apollo, CESC

<ul><li>We expect Metals and Steel companies under our coverage to deliver robust Revenue/EBITDA growth on a YoY basis, primarily on account of strong underlying commodity prices and robust sales volumes</li><li>As the Russia-Ukraine conflict escalated, the market priced in the risk of supply disruption emerging from the conflict and consequently, aluminium and steel prices rallied further QoQ.</li><li>The companies’ EBITDA margins, however, are expected to remain flattish or marginally decline YoY and QoQ mainly due to higher coal and energy prices. </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>

We expect Metals and Steel companies under our coverage to deliver robust Revenue/EBITDA growth on a YoY basis, primarily on account of strong underlying commodity prices and robust sales volumesAs the Russia-Ukraine conflict escalated, the market priced in the risk of supply disruption emerging from the conflict and consequently, aluminium and steel prices rallied further QoQ.The companies’ EBITDA margins, however, are expected to remain flattish or marginally decline YoY and QoQ mainly due to higher coal and energy prices. 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.

Metals and Mining: Strong Commodity Prices to Drive Profitability; Deleveraging to Continue

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

<ul>
<li>The focus of this channel Insight is the state of Uttar Pradesh, one of the largest and most important states in India currently undergoing Legislative elections. </li>
<li>The objective is to know the on-ground narrative about business and elections and is not aimed at forecasting the outcome of the event. </li>
<li>Business sentiment is not very encouraging, however, most of them seem to be hinting at the ruling party BJP remaining in power. </li>
</ul>


The focus of this channel Insight is the state of Uttar Pradesh, one of the largest and most important states in India currently undergoing Legislative elections. 
The objective is to know the on-ground narrative about business and elections and is not aimed at forecasting the outcome of the event. 
Business sentiment is not very encouraging, however, most of them seem to be hinting at the ruling party BJP remaining in power. 


India Channel Insight # 27 | Postcard from Uttar Pradesh (UP) | BJP Likely to Remain in Power

External broker reports(aggregated public sources), Topline Securities

Topline Securities

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. 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>Hub Power Company (HUBC) held its corporate briefing today to discuss 1HFY26 financial result and future outlook.</li><li>The company’s two Thar-based plants, Thar Energy Limited (TEL) and ThalNova, have declared dividends. HUBC has received Rs4.9bn from ThalNova in 2QFY26 and Rs 0.7bn from TEL. Management highlighted that the major dividend from TEL will be recorded in 3QFY26.</li><li>Overdue receivables currently stand at Rs68bn for CPHGC, Rs8bn for TEL, Rs7bn for ThalNova, Rs6bn for Laraib, and Rs1.4bn for Narowal.</li></ul>

Hub Power Company (HUBC) held its corporate briefing today to discuss 1HFY26 financial result and future outlook.The company’s two Thar-based plants, Thar Energy Limited (TEL) and ThalNova, have declared dividends. HUBC has received Rs4.9bn from ThalNova in 2QFY26 and Rs 0.7bn from TEL. Management highlighted that the major dividend from TEL will be recorded in 3QFY26.Overdue receivables currently stand at Rs68bn for CPHGC, Rs8bn for TEL, Rs7bn for ThalNova, Rs6bn for Laraib, and Rs1.4bn for Narowal.

Topline Flash Note: Hub Power Company (HUBC): Corporate Briefing Key Takeaways

India

APL Apollo Tubes is India's largest producer of structural steel tubes, holding approximately 55% of the market share. The company manufactures over 2,500 products, including square, rectangular, and circular hollow sections, as well as pre-galvanized tubes, galvanized tubes, and MS black pipes, catering to construction, infrastructure, and industrial sectors. Headquartered in Noida, Uttar Pradesh (Delhi NCR), the company was founded in 1986.

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APL Apollo Tubes (APAT IN)

Axis Top Picks - Oct 2022 - Earnings Commentary & Festival Demand to Drive the Market

Axis Top Picks basket delivered flattish returns (+0.2%) in a highly volatile Sep’22 which reported a rather mixed performance across sectors and...

Axis Direct

HSIE Results Daily: State Bank of India, Bandhan Bank, Aditya Birla Capital, APL Apollo, CESC

State Bank of India’s (SBI) earnings missed estimates, with PAT at INR91bn, impacted by higher credit costs at 1.1% (annualised).

HDFC Securities

Metals and Mining: Strong Commodity Prices to Drive Profitability; Deleveraging to Continue

We expect Metals and Steel companies under our coverage to deliver robust Revenue/EBITDA growth on a YoY basis, primarily on account of strong...

Axis Direct

India Channel Insight # 27 | Postcard from Uttar Pradesh (UP) | BJP Likely to Remain in Power

The focus of this channel Insight is the state of Uttar Pradesh, one of the largest and most important states in India currently undergoing...

Pranav Bhavsar

Topline Flash Note: Hub Power Company (HUBC): Corporate Briefing Key Takeaways

Hub Power Company (HUBC) held its corporate briefing today to discuss 1HFY26 financial result and future outlook. The company’s two Thar-based...

Topline Securities

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