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>The IT Services sector is expected to report moderate growth in Q3FY23, primarily on account of the seasonally weak quarter and slowing down growth momentum led by uncertainties in the US and UK.</li><li>However, IT spending in North America and Europe has continued to be relatively strong owing to the demand for digital transformation and cloud transformations.</li><li>We believe it is likely to remain intact, at least for the quarter. </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>

The IT Services sector is expected to report moderate growth in Q3FY23, primarily on account of the seasonally weak quarter and slowing down growth momentum led by uncertainties in the US and UK.However, IT spending in North America and Europe has continued to be relatively strong owing to the demand for digital transformation and cloud transformations.We believe it is likely to remain intact, at least for the 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.

IT Q3FY23 Result Preview – Demand Slowing Down; Margins Remain Stable

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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>Coforge offers system integration, apps &amp; BPO services to BFSI, travel &amp; healthcare verticals.</li><li>Revenues grew at 18.1% CAGR in the past five years</li><li>Healthy OCF, EBITDA (~75%) and robust return ratios (RoCE &gt; 20%).</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>

Coforge offers system integration, apps &amp; BPO services to BFSI, travel &amp; healthcare verticals.Revenues grew at 18.1% CAGR in the past five yearsHealthy OCF, EBITDA (~75%) and robust return ratios (RoCE &gt; 20%).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.

Coforge - Attrition Lowest Among IT Services Companies…

<ul><li>Coforge Ltd (Coforge) Q2FY23 results stood above our expectations as its revenue grew by 6.2% QoQ in CC terms to Rs 1,959 Cr.</li><li>The company reported operating profits of Rs 359.6 Cr, exhibiting a growth of 15% QoQ.</li><li>In line with the operating profits growth, its operating margins also witnessed a growth of 163bps QoQ to 17.6%.</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>

Coforge Ltd (Coforge) Q2FY23 results stood above our expectations as its revenue grew by 6.2% QoQ in CC terms to Rs 1,959 Cr.The company reported operating profits of Rs 359.6 Cr, exhibiting a growth of 15% QoQ.In line with the operating profits growth, its operating margins also witnessed a growth of 163bps QoQ to 17.6%.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.

Coforge Ltd (COFORGE) - Strong Results; Outlook Continues to Be Healthy

<ul><li>The IT Services sector is expected to report resilient growth in Q2FY23 primarily led by the new large deal wins and a ramp-up of deals won in the previous quarter despite likely macroeconomic challenges.</li><li>IT spending in North America and Europe has remained robust due to strong demand for digital and cloud transformations.</li><li>We believe the said demand momentum is likely to remain intact at least for the quarter and don’t foresee any spending being cut in this quarter, at least from the large clients across geographies.</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>

The IT Services sector is expected to report resilient growth in Q2FY23 primarily led by the new large deal wins and a ramp-up of deals won in the previous quarter despite likely macroeconomic challenges.IT spending in North America and Europe has remained robust due to strong demand for digital and cloud transformations.We believe the said demand momentum is likely to remain intact at least for the quarter and don’t foresee any spending being cut in this quarter, at least from the large clients across geographies.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.

It & Telecom Q2fy23 Result Preview – Demand to Remain Robust

<div><ul><li>Encouraging growth across verticles - <span style="font-size: var(--content-font-size);">On the vertical front, the BFS vertical exhibited a robust growth of 3% QoQ.</span></li></ul><div><ul><li>Outlook &amp; Valuation - <span style="font-size: var(--content-font-size);">Coforge has a robust business structure coupled with multiple long-term contracts spread across verticals which will help it generate sustainable growth momentum moving ahead.</span></li></ul><div><div><div><div><ul><li>We recommend a BUY rating on the stock and assign a 24x P/E multiple to its FY24E earnings of Rs 177.8/share which gives a TP of Rs 4,200 /share.</li></ul></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>

Encouraging growth across verticles - On the vertical front, the BFS vertical exhibited a robust growth of 3% QoQ.Outlook &amp; Valuation - Coforge has a robust business structure coupled with multiple long-term contracts spread across verticals which will help it generate sustainable growth momentum moving ahead.We recommend a BUY rating on the stock and assign a 24x P/E multiple to its FY24E earnings of Rs 177.8/share which gives a TP of Rs 4,200 /share.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.

Coforge Ltd (COFORGE) - Strong Results; Outlook Remains Healthy

India

Coforge Limited provides information technology services. The Company serves customers in India.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Coforge (COFORGE IN)

IT Q3FY23 Result Preview – Demand Slowing Down; Margins Remain Stable

The IT Services sector is expected to report moderate growth in Q3FY23, primarily on account of the seasonally weak quarter and slowing down growth...

Axis Direct

Coforge - Attrition Lowest Among IT Services Companies…

Coforge offers system integration, apps & BPO services to BFSI, travel & healthcare verticals. Revenues grew at 18.1% CAGR in the past five years

ICICI Securities Limited

Coforge Ltd (COFORGE) - Strong Results; Outlook Continues to Be Healthy

Coforge Ltd (Coforge) Q2FY23 results stood above our expectations as its revenue grew by 6.2% QoQ in CC terms to Rs 1,959 Cr.

Axis Direct

It & Telecom Q2fy23 Result Preview – Demand to Remain Robust

The IT Services sector is expected to report resilient growth in Q2FY23 primarily led by the new large deal wins and a ramp-up of deals won in the...

Axis Direct

Coforge Ltd (COFORGE) - Strong Results; Outlook Remains Healthy

Coforge Ltd (Coforge) Q4FY22 results stood above our expectations. The company’s revenue grew by 5.1% QoQ in CC terms to Rs 1,743 Cr.

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)