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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Thematic (Sector/Industry)

<ul><li>Market Performance-September Correction: A Confluence of Global and Domestic Headwinds: Indian equities enter October after a sharp September correction, with the market increasingly caught between resilient domestic economic fundamentals and a deteriorating global macro backdrop.</li><li>The immediate triggers for the correction have been the renewed escalation in West Asia, a sharp rise in crude oil prices, elevated US bond yields, rupee depreciation, and sustained foreign portfolio outflows. At the same time, India's domestic growth indicators remain relatively robust, with Q1FY27 real GDP growth at 7.8%, August industrial production growth at 8.0%, and bank credit growth remaining strong.</li><li>In September, the Nifty 50 declined 6.06%, the Nifty Midcap 100 fell 7.06%, Nifty Smallcap 250 declined by 3.1%, while Nifty 500 dropped 5.9%.</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 Performance-September Correction: A Confluence of Global and Domestic Headwinds: Indian equities enter October after a sharp September correction, with the market increasingly caught between resilient domestic economic fundamentals and a deteriorating global macro backdrop.The immediate triggers for the correction have been the renewed escalation in West Asia, a sharp rise in crude oil prices, elevated US bond yields, rupee depreciation, and sustained foreign portfolio outflows. At the same time, India's domestic growth indicators remain relatively robust, with Q1FY27 real GDP growth at 7.8%, August industrial production growth at 8.0%, and bank credit growth remaining strong.In September, the Nifty 50 declined 6.06%, the Nifty Midcap 100 fell 7.06%, Nifty Smallcap 250 declined by 3.1%, while Nifty 500 dropped 5.9%.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 2026

Equity Bottom-Up

<ul><li>Focus on Network Expansion &amp; B2B Strategy: Bharti Airtel continues to focus on transport network by expanding cable capacity, connecting data centers, and expanding its existing 139,000 km optical fiber backbone.</li><li>Moreover, the company’s capital expenditure allocation is actively redirecting to fiber transport, homes, and data centers as its Radio Capex moderates while standalone 5G Capex remains modest and software-led.</li><li>Airtel Business is capturing high-margin connectivity, B2B, and IoT demand while navigating lower margins in expanding cloud and CPaaS operations</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.

Focus on Network Expansion &amp; B2B Strategy: Bharti Airtel continues to focus on transport network by expanding cable capacity, connecting data centers, and expanding its existing 139,000 km optical fiber backbone.Moreover, the company’s capital expenditure allocation is actively redirecting to fiber transport, homes, and data centers as its Radio Capex moderates while standalone 5G Capex remains modest and software-led.Airtel Business is capturing high-margin connectivity, B2B, and IoT demand while navigating lower margins in expanding cloud and CPaaS operationsContent 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 QoQ Growth; Key Initiatives to Sustain Momentum

<ul><li>Market Performance - Broader Market Continues to Outperform:</li><li>Indian equities entered Sep’26 with a fundamentally stronger earnings backdrop but a less supportive global liquidity and valuation environment.</li><li>Corporate earnings for Q1FY27 have been among the strongest witnessed in the last ten quarters, yet benchmark indices have struggled to sustain momentum and have experienced corrections from recent highs.</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 Performance - Broader Market Continues to Outperform:Indian equities entered Sep’26 with a fundamentally stronger earnings backdrop but a less supportive global liquidity and valuation environment.Corporate earnings for Q1FY27 have been among the strongest witnessed in the last ten quarters, yet benchmark indices have struggled to sustain momentum and have experienced corrections from recent highs.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 September 2026

<ul><li>Steady QoQ Growth in Mobile Services Driven by Premiumization: The mobile services business continues to record a growth of 13.2% YoY, led by a focus on portfolio premiumization and an additional day in the quarter.</li><li>ARPU Leadership with Growth Focus: The company’s ARPU continues to be the best in the industry.</li><li>It intends to improve ARPU by focusing on higher post-paid customers, international roaming, and upgradation to smartphones from feature phones.</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.

Steady QoQ Growth in Mobile Services Driven by Premiumization: The mobile services business continues to record a growth of 13.2% YoY, led by a focus on portfolio premiumization and an additional day in the quarter.ARPU Leadership with Growth Focus: The company’s ARPU continues to be the best in the industry.It intends to improve ARPU by focusing on higher post-paid customers, international roaming, and upgradation to smartphones from feature phones.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 Performance; ARPU Continues to Gain

<ul><li>Market Performance: Recovery Supported by Improving Risk Sentiment: Indian equity markets staged a recovery during June 2026 after witnessing heightened volatility earlier in the month.</li><li>The decline in geopolitical risk premium following the de-escalation of tensions in West Asia, coupled with a sharp correction in crude oil prices, encouraged investors to gradually rebuild equity exposure.</li><li>The Nifty Smallcap 250 (4.30%) and Nifty Microcap 250 (6.35%) outperformed frontline indices, supported by strong domestic liquidity, while NIFTY 50, Nifty 500 and Nifty Midcap 100 gained marginally by 1.35%, 1.5% and 0.12%, respectively, MoM.</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 Performance: Recovery Supported by Improving Risk Sentiment: Indian equity markets staged a recovery during June 2026 after witnessing heightened volatility earlier in the month.The decline in geopolitical risk premium following the de-escalation of tensions in West Asia, coupled with a sharp correction in crude oil prices, encouraged investors to gradually rebuild equity exposure.The Nifty Smallcap 250 (4.30%) and Nifty Microcap 250 (6.35%) outperformed frontline indices, supported by strong domestic liquidity, while NIFTY 50, Nifty 500 and Nifty Midcap 100 gained marginally by 1.35%, 1.5% and 0.12%, respectively, MoM.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.

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)

Axis Top Picks for the month of October 2026

In September, the Nifty 50 declined 6.06%, the Nifty Midcap 100 fell 7.06%, Nifty Smallcap 250 declined by 3.1%, while Nifty 500 dropped 5.9%.

Axis Direct

Bharti Airtel Ltd. - Strong QoQ Growth; Key Initiatives to Sustain Momentum

Bharti Airtel continues to focus on transport network by expanding cable capacity, connecting data centers, and expanding its existing 139,000 km...

Axis Direct

Axis Top Picks for the month of September 2026

Indian equities entered Sep’26 with a fundamentally stronger earnings backdrop but a less supportive global liquidity and valuation environment.

Axis Direct

Bharti Airtel Ltd. - Strong Business Performance; ARPU Continues to Gain

The mobile services business continues to record a growth of 13.2% YoY, led by a focus on portfolio premiumization and an additional day in the...

Axis Direct

Axis Top Picks - July 2026

Recovery Supported by Improving Risk Sentiment: Indian equity markets staged a recovery during June 2026 after witnessing heightened volatility...

Axis Direct

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