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>Pick of the Week (PoW): Our POW calls delivered an astounding monthly strike rate of 88% in Nov’23.</li><li>Calls that successfully achieved their target were Coforge (11%), JK Lakshmi Cement (10%), Automotive Axles (10%), Cyient (10%), and Minda Corporation (10%).</li><li>Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 31% in the last one year (till 1st Dec’23), notably beating the benchmark Nifty 50 index which grew by only 8% 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.

Pick of the Week (PoW): Our POW calls delivered an astounding monthly strike rate of 88% in Nov’23.Calls that successfully achieved their target were Coforge (11%), JK Lakshmi Cement (10%), Automotive Axles (10%), Cyient (10%), and Minda Corporation (10%).Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 31% in the last one year (till 1st Dec’23), notably beating the benchmark Nifty 50 index which grew by only 8% 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 Research Scorecard Report for Nov 2023

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.

<ul><li>Hindustan Unilever: HUL’s revenue growth of 3.5% YoY was slow but in line with expectations</li><li>Volume growth was at 2% (HSIE 3%) and sustained a four-year CAGR at &lt;3%</li><li>Rural recovery has been slow despite price cuts and overall softening in the inflation</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.

Hindustan Unilever: HUL’s revenue growth of 3.5% YoY was slow but in line with expectationsVolume growth was at 2% (HSIE 3%) and sustained a four-year CAGR at &lt;3%Rural recovery has been slow despite price cuts and overall softening in the inflationContent 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: Hindustan Unilever, ITC, UltraTech Cement

<ul><li>The big news is that not much has changed in the past few months</li><li>Most of the demand indicators are trailing 10-15% below levels at the beginning of the year and only slightly better than the July lows, the supply-side factors remain favourable, supporting operational resilience despite soft growth</li><li>In Q2FY24, the IT sector is expected to deliver a soft quarter, although Q2 has historically been a seasonally strong 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.

The big news is that not much has changed in the past few monthsMost of the demand indicators are trailing 10-15% below levels at the beginning of the year and only slightly better than the July lows, the supply-side factors remain favourable, supporting operational resilience despite soft growthIn Q2FY24, the IT sector is expected to deliver a soft quarter, although Q2 has historically been a seasonally strong 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.

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We remain bullish global equities if the major $93 support level on MSCI ACWI (ACWI-US) continues to hold (1+ year base support and the 10.5-month uptrend)</li>
<li>The 10-year Treasury yield remains below 4.35% resistance (a positive), but the DXY is climbing above $103.70-$104.70 resistance, and $105.70 is the last line of defense (9-month resistance).</li>
<li>Japan and India remain top overweights, with many of today's buy recommendations from these countries (Real Estate, Energy, Tech/Services, Discretionary). Also downgrading Taiwan and Greece to market weight.</li>
</ul>


We remain bullish global equities if the major $93 support level on MSCI ACWI (ACWI-US) continues to hold (1+ year base support and the 10.5-month uptrend)
The 10-year Treasury yield remains below 4.35% resistance (a positive), but the DXY is climbing above $103.70-$104.70 resistance, and $105.70 is the last line of defense (9-month resistance).
Japan and India remain top overweights, with many of today's buy recommendations from these countries (Real Estate, Energy, Tech/Services, Discretionary). Also downgrading Taiwan and Greece to market weight.


Remain Overweight Japan and India; Key Supports Holding; Buys in Energy, Tech/Services (India)

<ul><li>Larsen &amp; Toubro: Larsen &amp; Toubro (LT) reported yet another strong quarter, beating our estimates on all fronts, led by robust execution owing to a strong opening order book</li><li>EBITDA margin came in at 10.2% (-87/-155bps YoY/QoQ vs our estimate of 11.3%), impacted by the Covid-era legacy projects nearing completion (Q3FY24 should complete), partly offset by lower employee expenses and better overhead absorption</li><li>The Hyderabad metro saw ridership improving to 422k per day from 408k per day in Q4FY23</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.

Larsen &amp; Toubro: Larsen &amp; Toubro (LT) reported yet another strong quarter, beating our estimates on all fronts, led by robust execution owing to a strong opening order bookEBITDA margin came in at 10.2% (-87/-155bps YoY/QoQ vs our estimate of 11.3%), impacted by the Covid-era legacy projects nearing completion (Q3FY24 should complete), partly offset by lower employee expenses and better overhead absorptionThe Hyderabad metro saw ridership improving to 422k per day from 408k per day in Q4FY23Content 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: Larsen & Toubro, Asian Paints, Tata Motors, Bajaj Auto

India

Cyient is an Indian multinational technology company specializing in engineering, manufacturing, and digital transformation solutions. It provides services across various industries, including aerospace, defense, transportation, communications, and healthcare. Cyient was established in 1991 in Hyderabad, India.

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Cyient (CYL IN)

Axis Research Scorecard Report for Nov 2023

We are proud to share that our Axis Top Picks basket delivered impressive returns of 31% in the last one year (till 1st Dec’23), notably beating...

Axis Direct

HSIE Results Daily: Hindustan Unilever, ITC, UltraTech Cement

Hindustan Unilever: HUL’s revenue growth of 3.5% YoY was slow but in line with expectations. Volume growth was at 2% (HSIE 3%) and sustained a four...

HDFC Securities

IT Sector - Soft Q2, Status Quo Remains

Most of the demand indicators are trailing 10-15% below levels at the beginning of the year and only slightly better than the July lows

HDFC Securities

Remain Overweight Japan and India; Key Supports Holding; Buys in Energy, Tech/Services (India)

We remain bullish on global equities as long as major $93 support on $ACWI continues to hold (1+ year base support and the 10.5-month uptrend)....

Vermilion Research

HSIE Results Daily: Larsen & Toubro, Asian Paints, Tata Motors, Bajaj Auto

Larsen & Toubro: Larsen & Toubro (LT) reported yet another strong quarter, beating our estimates on all fronts, led by robust execution owing to a...

HDFC Securities

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