External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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.

Thematic (Sector/Industry)

<ul><li>Our discretionary universe is set for a mixed performance in Q1FY26, with overall revenue projected to grow by ~18% YoY in Q1FY26, driven by a few outliers, both positive and negative</li><li>Excluding the strong growth from new age businesses (~49% growth YoY) and headwinds faced by paint companies (~2% growth YoY, negative), our universe is still likely to grow at ~17%</li><li>We anticipate continued margin pressure as SSSGs remain weak, ranging from negative to lower single-digits for most</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 discretionary universe is set for a mixed performance in Q1FY26, with overall revenue projected to grow by ~18% YoY in Q1FY26, driven by a few outliers, both positive and negativeExcluding the strong growth from new age businesses (~49% growth YoY) and headwinds faced by paint companies (~2% growth YoY, negative), our universe is still likely to grow at ~17%We anticipate continued margin pressure as SSSGs remain weak, ranging from negative to lower single-digits for mostContent 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 (Q1FY26 Results Preview): Q1FY26–a mixed bag

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>Management Commentaries &amp; Guidance Remain Critical We are happy to share that the Axis Top Picks Basket delivered a return of 9.7% in the last three months against the 8.5% return posted by the Nifty 50, outperforming the Nifty 50 by a notable margin of 1.2%.</li><li>Moreover, over the last one month, the basket has gained 3.7%.</li><li>Our Top Picks Basket has delivered an impressive return of 336% since its inception (May’20), which stands well above the 175% 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.

Management Commentaries &amp; Guidance Remain Critical We are happy to share that the Axis Top Picks Basket delivered a return of 9.7% in the last three months against the 8.5% return posted by the Nifty 50, outperforming the Nifty 50 by a notable margin of 1.2%.Moreover, over the last one month, the basket has gained 3.7%.Our Top Picks Basket has delivered an impressive return of 336% since its inception (May’20), which stands well above the 175% 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 July 2025

<ul><li>In the past few quarters, rural India has been shouldering the responsibility of consumption growth in the country while urban mass consumption remained soft, impacted adversely by persistent inflation</li><li>Against this backdrop, our report is a bottom-up analysis of ~250 rural districts across eight key Indian states, representing ~72% of rural India GDP</li><li>It demonstrates the strength of rural growth with following inferences, reinforcing the thesis presented in our previous Rural India report Rural India is transitioning swiftly from an agri-centric economy to a services-led economy 112 rural districts representing a population of 291mn have already crossed the threshold of per capita income of USD2,000</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 the past few quarters, rural India has been shouldering the responsibility of consumption growth in the country while urban mass consumption remained soft, impacted adversely by persistent inflationAgainst this backdrop, our report is a bottom-up analysis of ~250 rural districts across eight key Indian states, representing ~72% of rural India GDPIt demonstrates the strength of rural growth with following inferences, reinforcing the thesis presented in our previous Rural India report Rural India is transitioning swiftly from an agri-centric economy to a services-led economy 112 rural districts representing a population of 291mn have already crossed the threshold of per capita income of USD2,000Content 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.

Rural India: Shifting economic foundations

<ul><li>The Axis Top Picks Basket delivered a return of 15.3% in the last three months against the 11.9% return posted by the Nifty 50, outperforming the Nifty 50 by a notable margin of 3.4%.</li><li>Moreover, over the last one month, the basket has gained 2.6%. We are happy to share that our Top Picks Basket has delivered an impressive return of 321% since its inception (May’20), which stands well above the 167% return delivered by the NIFTY 50 index over the same period.</li><li>India’s Domestic Economy Well-Positioned: Despite external risks, India’s domestic growth trajectory remains intact, with key macroeconomic factors supporting a stronger FY26 compared to FY25.</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 Axis Top Picks Basket delivered a return of 15.3% in the last three months against the 11.9% return posted by the Nifty 50, outperforming the Nifty 50 by a notable margin of 3.4%.Moreover, over the last one month, the basket has gained 2.6%. We are happy to share that our Top Picks Basket has delivered an impressive return of 321% since its inception (May’20), which stands well above the 167% return delivered by the NIFTY 50 index over the same period.India’s Domestic Economy Well-Positioned: Despite external risks, India’s domestic growth trajectory remains intact, with key macroeconomic factors supporting a stronger FY26 compared to FY25.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 2025

<ul><li>State Bank of India: SBIN’s earnings missed our estimates on account of elevated opex (INR 16bn) towards performance-linked incentives, partly offset by strong treasury/MTM gains and revaluation of SRs (INR39bn)</li><li>Loan growth (+12% YoY) disappointed owing to lower growth in the corporate book due to higher repayments from PSU exposures</li><li>Deposit growth (+9% YoY, +2.9% QoQ) was soft as CASA ratio improved to 38.4% (+84bps QoQ), aided 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.

State Bank of India: SBIN’s earnings missed our estimates on account of elevated opex (INR 16bn) towards performance-linked incentives, partly offset by strong treasury/MTM gains and revaluation of SRs (INR39bn)Loan growth (+12% YoY) disappointed owing to lower growth in the corporate book due to higher repayments from PSU exposuresDeposit growth (+9% YoY, +2.9% QoQ) was soft as CASA ratio improved to 38.4% (+84bps QoQ), aided 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: State Bank of India, Kotak Mahindra Bank, Avenue Supermarts...

India

Avenue Supermarts Ltd. (ASL) owns and operates hypermarkets and supermarkets. The Company offers products such as garments, footwears, toys and games, bed and bath linen, stationery, grocery, household, and electronic products. ASL operates throughout India.

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Avenue Supermarts Ltd (DMART IN)

Consumer Discretionary (Q1FY26 Results Preview): Q1FY26–a mixed bag

Our discretionary universe is set for a mixed performance in Q1FY26, with overall revenue projected to grow by ~18% YoY in Q1FY26, driven by a few...

HDFC Securities

Axis Top Picks for the month of July 2025

Our Top Picks Basket has delivered an impressive return of 336% since its inception (May’20), which stands well above the 175% return delivered by...

Axis Direct

Rural India: Shifting economic foundations

Against this backdrop, our report is a bottom-up analysis of ~250 rural districts across eight key Indian states, representing ~72% of rural India GDP

HDFC Securities

Axis Top Picks for the Month of June 2025

The Axis Top Picks Basket delivered a return of 15.3% in the last three months against the 11.9% return posted by the Nifty 50, outperforming the...

Axis Direct

HSIE Results Daily: State Bank of India, Kotak Mahindra Bank, Avenue Supermarts...

SBIN’s earnings missed our estimates on account of elevated opex (INR 16bn) towards performance-linked incentives, partly offset by strong treasury...

HDFC Securities

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