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>Demand Recovery Gains Momentum: Discretionary consumption witnessed a sharp improvement during the quarter, supported by demand recovery following the GST rate cuts implemented towards the end of Q2FY26.</li><li>The QSR segment delivered strong growth, driven by improving same-store sales growth (SSSG) and higher footfall.</li><li>Apparel companies also reported broad-based demand recovery, with value-focused players continuing to outperform. </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.

Demand Recovery Gains Momentum: Discretionary consumption witnessed a sharp improvement during the quarter, supported by demand recovery following the GST rate cuts implemented towards the end of Q2FY26.The QSR segment delivered strong growth, driven by improving same-store sales growth (SSSG) and higher footfall.Apparel companies also reported broad-based demand recovery, with value-focused players continuing to outperform. 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: Volatility Persists: Indian markets experienced sharp swings during May 2026 amid fluctuating global risk sentiment.</li><li>The Nifty 50 remained under pressure due to weakness in heavyweight Banking, IT, and Oil-linked sectors, while broader markets demonstrated resilience.</li><li>The Nifty Midcap100 and Nifty Smallcap 250 outperformed frontline indices, supported by stronger earnings growth, domestic liquidity, and sectoral rotation into industrials, capital goods, defence, manufacturing, and select consumption themes. </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: Volatility Persists: Indian markets experienced sharp swings during May 2026 amid fluctuating global risk sentiment.The Nifty 50 remained under pressure due to weakness in heavyweight Banking, IT, and Oil-linked sectors, while broader markets demonstrated resilience.The Nifty Midcap100 and Nifty Smallcap 250 outperformed frontline indices, supported by stronger earnings growth, domestic liquidity, and sectoral rotation into industrials, capital goods, defence, manufacturing, and select consumption themes. 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 June 2026

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>Kotak Mahindra Bank: Kotak Mahindra Bank’s (KMB) Q4FY26 earnings beat estimates, on account of lower-than-expected provisioning and stable operating performance, alongside steady growth on both sides of the balance sheet</li><li>Healthy loan growth (16% YoY; 3%QoQ) was driven by mortgages, business banking, and SME segments</li><li>Deposit growth at 15% YoY (6% QoQ) was strong with CASA ratio clocking in at 43.3% (+196bps QoQ), driven by seasonality in CA balances</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.

Kotak Mahindra Bank: Kotak Mahindra Bank’s (KMB) Q4FY26 earnings beat estimates, on account of lower-than-expected provisioning and stable operating performance, alongside steady growth on both sides of the balance sheetHealthy loan growth (16% YoY; 3%QoQ) was driven by mortgages, business banking, and SME segmentsDeposit growth at 15% YoY (6% QoQ) was strong with CASA ratio clocking in at 43.3% (+196bps QoQ), driven by seasonality in CA balancesContent 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: Kotak Mahindra Bank, Avenue Supermarts, Bajaj FinServ, Jindal Steel

<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

<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)

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)

Top Conviction Ideas - “Retail”

Discretionary consumption witnessed a sharp improvement during the quarter, supported by demand recovery following the GST rate cuts implemented...

Axis Direct

Axis Top Picks for the Month of June 2026

The Nifty 50 remained under pressure due to weakness in heavyweight Banking, IT, and Oil-linked sectors, while broader markets demonstrated...

Axis Direct

HSIE Results Daily: Kotak Mahindra Bank, Avenue Supermarts, Bajaj FinServ, Jindal Steel

Deposit growth at 15% YoY (6% QoQ) was strong with CASA ratio clocking in at 43.3% (+196bps QoQ), driven by seasonality in CA balances

HDFC Securities

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

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