External broker reports(aggregated public sources), Sharekhan

Sharekhan

External broker reports(aggregated public sources)

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

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>Consolidated revenue stood at Rs 41,473 crore, up 7.7% q-o-q/ 12% y-o-y , marginally beating our estimates of Rs 41,375 crore.</li><li>Consolidated EBITDA margin stood at 52.7%, rising 150 bps q-o-q, but missed our estimates of 54.3%.</li><li>Reported ARPU for India wireless business stood at Rs.</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.

Consolidated revenue stood at Rs 41,473 crore, up 7.7% q-o-q/ 12% y-o-y , marginally beating our estimates of Rs 41,375 crore.Consolidated EBITDA margin stood at 52.7%, rising 150 bps q-o-q, but missed our estimates of 54.3%.Reported ARPU for India wireless business stood at Rs.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.

Bharti Airtel Ltd - Good Q2, Maintain Buy

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>Tariff Hike by Jio and Bharti Airtel: Jio and Bharti Airtel (Bharti) will be benefitted from tariff hikes and customer gains however we expect private telcom companies to report QoQ decline in their subscriber base.</li><li>However, the loss is likely to be more at the lower end, i.e., the non-data subs of Airtel/VIL/Hexacom and entry-level subs of Jio (non-JioPhone; Jio has kept JioBharat tariffs unchanged) choosing to shift to BSNL.</li><li>We still expect Bharti/Hexacom to report QoQ increase in 4G subsbase and Jio to see a decline, as its entire base is 4G. </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.

Tariff Hike by Jio and Bharti Airtel: Jio and Bharti Airtel (Bharti) will be benefitted from tariff hikes and customer gains however we expect private telcom companies to report QoQ decline in their subscriber base.However, the loss is likely to be more at the lower end, i.e., the non-data subs of Airtel/VIL/Hexacom and entry-level subs of Jio (non-JioPhone; Jio has kept JioBharat tariffs unchanged) choosing to shift to BSNL.We still expect Bharti/Hexacom to report QoQ increase in 4G subsbase and Jio to see a decline, as its entire base is 4G. 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.

Thematic (Sector/Industry)

<ul><li>Market Breadth Narrowing; Emphasis On Style &amp; Sector Rotation</li><li>The Axis Top Picks Basket delivered an excellent return of 10.4% in the last three months against the 7.5% returns posted by Nifty 50 over the same period.</li><li>Moreover, the basket climbed up by 2.3% in the last one month. It gives us immense joy to share that our Top Picks Basket has delivered an impressive return of 348% since its inception (May’20), which stands well above the 178% return delivered by the NIFTY 50 index over the same period. </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 Breadth Narrowing; Emphasis On Style &amp; Sector RotationThe Axis Top Picks Basket delivered an excellent return of 10.4% in the last three months against the 7.5% returns posted by Nifty 50 over the same period.Moreover, the basket climbed up by 2.3% in the last one month. It gives us immense joy to share that our Top Picks Basket has delivered an impressive return of 348% since its inception (May’20), which stands well above the 178% return delivered by the NIFTY 50 index 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 for the Month of October 2024

<ul><li>Telecom companies reported strong revenue growth in Q1FY25, driven by increased data consumption and the conversion from 2G to 4G networks.</li><li>This conversion has facilitated the premiumization of accounts, which is expected to enhance long-term profitability.</li><li>However, customer additions for Bharti and Jio were lower compared to the previous quarter. </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.

Telecom companies reported strong revenue growth in Q1FY25, driven by increased data consumption and the conversion from 2G to 4G networks.This conversion has facilitated the premiumization of accounts, which is expected to enhance long-term profitability.However, customer additions for Bharti and Jio were lower compared to the previous quarter. 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>In Q1FY25, Bharti Airtel Ltd. (Bharti) reported revenue of Rs 38,506 Cr, up 2.4% QoQ and up 2.9% YoY (though slightly below our expectations).</li><li>This was mainly on account of the devaluation of Nigeria's Naira and other currencies during the period.</li><li>The company posted a healthy operating profit of Rs 19,708 Cr, leveraging higher 4G conversions and a better service mix. </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.

In Q1FY25, Bharti Airtel Ltd. (Bharti) reported revenue of Rs 38,506 Cr, up 2.4% QoQ and up 2.9% YoY (though slightly below our expectations).This was mainly on account of the devaluation of Nigeria's Naira and other currencies during the period.The company posted a healthy operating profit of Rs 19,708 Cr, leveraging higher 4G conversions and a better service mix. 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.

Bharti Airtel Ltd. - Strong Business Matrix; ARPU Gains Continue

India

Bharti Airtel Limited, a part of Bharti Enterprises, provides telecommunications services throughout India. The Company provides GSM Mobile Services, broadband, fixed line telephone services, long distance services (international & national) and enterprise services.

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Bharti Airtel (BHARTI IN)

Bharti Airtel Ltd - Good Q2, Maintain Buy

Consolidated revenue stood at Rs 41,473 crore, up 7.7% q-o-q/ 12% y-o-y , marginally beating our estimates of Rs 41,375 crore. Consolidated EBITDA...

Sharekhan

Q2FY25 Earnings Preview - Telecom

We still expect Bharti/Hexacom to report QoQ increase in 4G subsbase and Jio to see a decline, as its entire base is 4G.

Axis Direct

Axis Top Picks for the Month of October 2024

The Axis Top Picks Basket delivered an excellent return of 10.4% in the last three months against the 7.5% returns posted by Nifty 50 over the same...

Axis Direct

Top Sector Ideas – Telecom (Q1FY25)

Telecom companies reported strong revenue growth in Q1FY25, driven by increased data consumption and the conversion from 2G to 4G networks.

Axis Direct

Bharti Airtel Ltd. - Strong Business Matrix; ARPU Gains Continue

In Q1FY25, Bharti Airtel Ltd. (Bharti) reported revenue of Rs 38,506 Cr, up 2.4% QoQ and up 2.9% YoY (though slightly below our expectations).

Axis Direct

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