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>Our consumer discretionary coverage universe (ex-Eternal) is expected to deliver ~23% YoY revenue growth in Q4, underpinned by a broad-based demand recovery.</li><li>This topline performance is mainly driven by sustained momentum in jewelry (driven by surge in gold prices), ongoing customer acquisition efforts in new-age businesses, and recovery in apparel growth YoY.</li><li>We expect jewelry, F&amp;G, paints, apparel, and footwear to clock ~47%, 19%, 5%, 16%, and 9% YoY revenue growth in Q4. </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.

Our consumer discretionary coverage universe (ex-Eternal) is expected to deliver ~23% YoY revenue growth in Q4, underpinned by a broad-based demand recovery.This topline performance is mainly driven by sustained momentum in jewelry (driven by surge in gold prices), ongoing customer acquisition efforts in new-age businesses, and recovery in apparel growth YoY.We expect jewelry, F&amp;G, paints, apparel, and footwear to clock ~47%, 19%, 5%, 16%, and 9% YoY revenue growth in Q4. 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 Discretionary (Q4FY26 Results Preview): Q4FY26 – green shoots emerging across segments

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.

<ul><li>The macro environment entering Q4FY26 has shifted from relative stability to a more challenging phase, driven by a combination of elevated crude oil prices, currency depreciation, and inflationary pressures.</li><li>India, being structurally strong with resilient domestic demand and healthy corporate balance sheets, continues to remain better positioned than peers.</li><li>However, the recent spike in crude prices and global uncertainties has introduced near-term risks to both macroeconomic stability and corporate profitability.</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.

The macro environment entering Q4FY26 has shifted from relative stability to a more challenging phase, driven by a combination of elevated crude oil prices, currency depreciation, and inflationary pressures.India, being structurally strong with resilient domestic demand and healthy corporate balance sheets, continues to remain better positioned than peers.However, the recent spike in crude prices and global uncertainties has introduced near-term risks to both macroeconomic stability and corporate profitability.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.

Earnings Preview - Q4FY26 - (Consolidated)

<ul><li>The escalation of the US–Iran conflict has triggered a sharp spike in crude oil prices and LPG shortages, leading to broad-based input cost inflation across consumption sectors.</li><li>Given the high linkage of crude derivatives to packaging, logistics, and raw materials, the situation is expected to compress margins, delay demand recovery, and disrupt supply chains.</li><li>FMCG: Margin vs demand trade-off </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.

The escalation of the US–Iran conflict has triggered a sharp spike in crude oil prices and LPG shortages, leading to broad-based input cost inflation across consumption sectors.Given the high linkage of crude derivatives to packaging, logistics, and raw materials, the situation is expected to compress margins, delay demand recovery, and disrupt supply chains.FMCG: Margin vs demand trade-off 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>US-Iran Conflict: Impact on Consumption Sectors</li><li>The escalation of the US–Iran conflict has triggered a sharp spike in crude oil prices and LPG shortages, leading to broad-based input cost inflation across consumption sectors.</li><li>Given the high linkage of crude derivatives to packaging, logistics, and raw materials, the situation is expected to compress margins, delay demand recovery, and disrupt supply chains.</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.

US-Iran Conflict: Impact on Consumption SectorsThe escalation of the US–Iran conflict has triggered a sharp spike in crude oil prices and LPG shortages, leading to broad-based input cost inflation across consumption sectors.Given the high linkage of crude derivatives to packaging, logistics, and raw materials, the situation is expected to compress margins, delay demand recovery, and disrupt supply chains.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>Market Recap: Sharp Correction Amid Global Shock: Indian equities witnessed a sharp correction in March 2026, with the Nifty declining more than 11% and broader markets underperforming, driven by a confluence of global and domestic headwinds.</li><li>The sell-off was triggered primarily by escalating geopolitical tensions in the Middle East, which pushed crude oil prices above $100–110/bbl, alongside persistent FII outflows and rising global risk aversion.</li><li>The correction was broad-based across large-cap, mid-cap, and small-cap segments. Importantly, this drawdown has brought valuations closer to historical averages after a period of premium valuations</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.

Market Recap: Sharp Correction Amid Global Shock: Indian equities witnessed a sharp correction in March 2026, with the Nifty declining more than 11% and broader markets underperforming, driven by a confluence of global and domestic headwinds.The sell-off was triggered primarily by escalating geopolitical tensions in the Middle East, which pushed crude oil prices above $100–110/bbl, alongside persistent FII outflows and rising global risk aversion.The correction was broad-based across large-cap, mid-cap, and small-cap segments. Importantly, this drawdown has brought valuations closer to historical averages after a period of premium valuationsContent 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

Avenue Supermarts Limited, operating as D-Mart, is an Indian retail corporation that runs a chain of hypermarkets and supermarkets. The company offers a wide range of basic home and personal products, including food, groceries, toiletries, beauty products, garments, kitchenware, and home appliances. Avenue Supermarts was founded in 2000 and is headquartered in Mumbai, Maharashtra, India.

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Avenue Supermarts (DMART IN)

Consumer Discretionary (Q4FY26 Results Preview): Q4FY26 – green shoots emerging across segments

Our consumer discretionary coverage universe (ex-Eternal) is expected to deliver ~23% YoY revenue growth in Q4, underpinned by a broad-based demand...

HDFC Securities

Earnings Preview - Q4FY26 - (Consolidated)

India, being structurally strong with resilient domestic demand and healthy corporate balance sheets, continues to remain better positioned than...

Axis Direct

Sector Update: Consumption

The escalation of the US–Iran conflict has triggered a sharp spike in crude oil prices and LPG shortages, leading to broad-based input cost...

Axis Direct

Sector Update: Consumption

The escalation of the US–Iran conflict has triggered a sharp spike in crude oil prices and LPG shortages, leading to broad-based input cost...

Axis Direct

Axis Top Picks - April 2026

Indian equities witnessed a sharp correction in March 2026, with the Nifty declining more than 11% and broader markets underperforming...

Axis Direct

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