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>ITC: ITC’s Q1 print was operationally in line, with EBITDA/APAT growing by 11/18% vs the expectation of 11/16%</li><li>Cigarette net revenue/EBIT growth was at 11% each, with volume growth at c.8% (4% four-year CAGR)</li><li>The relative stability in taxes backed by deterrent action by agencies on illicit trade continued to support cigarette recovery</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.

ITC: ITC’s Q1 print was operationally in line, with EBITDA/APAT growing by 11/18% vs the expectation of 11/16%Cigarette net revenue/EBIT growth was at 11% each, with volume growth at c.8% (4% four-year CAGR)The relative stability in taxes backed by deterrent action by agencies on illicit trade continued to support cigarette recoveryContent 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: ITC, ONGC, Crompton Consumer, TTK Prestige, Galaxy Surfactants

<ul><li>Ashok Leyland: Ashok Leyland’s Q4 PAT, at INR 6.9bn, was ahead of our estimate, led by higher-than-expected ASP and a 50-bps margin beat to 11%</li><li>The margin beat was largely driven by a higher-than-expected gross margin</li><li>While AL has done well in FY23 in the MHCV goods segment (+550bps market share to 32.3%), its market share has declined sharply in the MHCV passenger segment to 28% for FY23 (-410bps), where it has traditionally been a market leader (slipped to the third position)</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.

Ashok Leyland: Ashok Leyland’s Q4 PAT, at INR 6.9bn, was ahead of our estimate, led by higher-than-expected ASP and a 50-bps margin beat to 11%The margin beat was largely driven by a higher-than-expected gross marginWhile AL has done well in FY23 in the MHCV goods segment (+550bps market share to 32.3%), its market share has declined sharply in the MHCV passenger segment to 28% for FY23 (-410bps), where it has traditionally been a market leader (slipped to the third position)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.

HSIE Results Daily: Ashok Leyland, Fsn E-Commerce Ventures (Nykaa)

<ul><li>Our chemical universe is expected to report a muted sequential growth, owing to subdued demand, courtesy the global recessionary headwinds faced by various end-user industries</li><li>Revenue for our coverage universe is likely to improve by ~6/5% YoY/QoQ.</li><li>EBITDA margin could deteriorate by 188bps YoY and remain flattish sequentially at 21%, owing to the elevated raw material cost and lower absorption of fixed cost.</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 chemical universe is expected to report a muted sequential growth, owing to subdued demand, courtesy the global recessionary headwinds faced by various end-user industriesRevenue for our coverage universe is likely to improve by ~6/5% YoY/QoQ.EBITDA margin could deteriorate by 188bps YoY and remain flattish sequentially at 21%, owing to the elevated raw material cost and lower absorption of fixed cost.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>The Indian chemical industry continues to be an attractive hub of opportunities, even in an environment of global uncertainty</li><li>The uniqueness of the chemical industry is that it requires both the creation of tangible assets and technical manpower</li><li>We believe domestic chemical companies have abundant opportunities to partner in technology</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 Indian chemical industry continues to be an attractive hub of opportunities, even in an environment of global uncertaintyThe uniqueness of the chemical industry is that it requires both the creation of tangible assets and technical manpowerWe believe domestic chemical companies have abundant opportunities to partner in technologyContent 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.

Indian Chemical Sector 2.0 - Catalysts for Growth in Place

Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Equity Bottom-Up

<ul>
<li>India's Nifty50 index reached an all-time high yesterday. However, many Indian stocks are near their 52-week lows. Many among them have strong forecast earnings growth, good balance sheets, attractive valuations.</li>
<li>We screen 17 stocks with double digit forecast EPS growth, PEG &lt; 1.4x, net debt to equity less than 50%. They are spread across construction, chemicals, healthcare, industrials and technology.</li>
<li>The largest five are <a href="https://www.smartkarma.com/entities/deepak-nitrite-ltd" target="_blank" data-smartkarma-citation="entities:5845" rel="noopener">Deepak Nitrite (DN IN)</a>, <a href="https://www.smartkarma.com/entities/cohance-lifesciences-limited" target="_blank" data-smartkarma-citation="entities:33463" rel="noopener">Cohance Lifesciences (COHANCE IN)</a>, <a href="https://www.smartkarma.com/entities/basf-india-ltd" target="_blank" data-smartkarma-citation="entities:19253" rel="noopener">BASF India Ltd (BASF IN)</a>, <a href="https://www.smartkarma.com/entities/crompton-greaves-consumer-electricals" target="_blank" data-smartkarma-citation="entities:24046" rel="noopener">Crompton Greaves Consumer Electricals (CROMPTON IN)</a>, <a href="https://www.smartkarma.com/entities/clean-science-and-technology" target="_blank" data-smartkarma-citation="entities:33648" rel="noopener">Clean Science and Technology (CLEAN IN)</a>.</li>
</ul>


India's Nifty50 index reached an all-time high yesterday. However, many Indian stocks are near their 52-week lows. Many among them have strong forecast earnings growth, good balance sheets, attractive valuations.
We screen 17 stocks with double digit forecast EPS growth, PEG &lt; 1.4x, net debt to equity less than 50%. They are spread across construction, chemicals, healthcare, industrials and technology.
The largest five are Deepak Nitrite (DN IN), Cohance Lifesciences (COHANCE IN), BASF India Ltd (BASF IN), Crompton Greaves Consumer Electricals (CROMPTON IN), Clean Science and Technology (CLEAN IN).


Asian Equities: India's Nifty Is at All-Time High, These Quality Stocks Are Not.

India

Galaxy Surfactants is an Indian multinational specialty chemical company that manufactures surfactants and specialty chemicals for the cleaning and personal care industries. Its products, which include over 200 grades, are used in various home and personal care products like shampoos, soaps, and detergents. The company is headquartered in Navi Mumbai, India, and was founded in 1980.

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

Galaxy Surfactants (GALSURF IN)

HSIE Results Daily: ITC, ONGC, Crompton Consumer, TTK Prestige, Galaxy Surfactants

ITC’s Q1 print was operationally in line, with EBITDA/APAT growing by 11/18% vs the expectation of 11/16%C. igarette net revenue/EBIT growth was at...

HDFC Securities

HSIE Results Daily: Ashok Leyland, Fsn E-Commerce Ventures (Nykaa)

Ashok Leyland: Ashok Leyland’s Q4 PAT, at INR 6.9bn, was ahead of our estimate, led by higher-than-expected ASP and a 50-bps margin beat to 11%

HDFC Securities

Chemicals: Recovery and stability ahead!

Our chemical universe is expected to report a muted sequential growth, owing to subdued demand, courtesy the global recessionary headwinds faced by...

HDFC Securities

Indian Chemical Sector 2.0 - Catalysts for Growth in Place

The Indian chemical industry continues to be an attractive hub of opportunities, even in an environment of global uncertainty

HDFC Securities

Asian Equities: India's Nifty Is at All-Time High, These Quality Stocks Are Not.

India's Nifty50 hit its all-time high while many stocks are near 52-week lows. We identify 17 stocks with strong earnings growth, good balance...

Manishi Raychaudhuri

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HSIE Results Daily: ITC, ONGC, Crompton Consumer, TTK Prestige, Galaxy Surfactants

ITC’s Q1 print was operationally in line, with EBITDA/APAT growing by 11/18% vs the expectation of 11/16%C. igarette net revenue/EBIT growth was at...

HDFC Securities

HSIE Results Daily: Ashok Leyland, Fsn E-Commerce Ventures (Nykaa)

Ashok Leyland: Ashok Leyland’s Q4 PAT, at INR 6.9bn, was ahead of our estimate, led by higher-than-expected ASP and a 50-bps margin beat to 11%

HDFC Securities

Chemicals: Recovery and stability ahead!

Our chemical universe is expected to report a muted sequential growth, owing to subdued demand, courtesy the global recessionary headwinds faced by...

HDFC Securities

Indian Chemical Sector 2.0 - Catalysts for Growth in Place

The Indian chemical industry continues to be an attractive hub of opportunities, even in an environment of global uncertainty

HDFC Securities

Asian Equities: India's Nifty Is at All-Time High, These Quality Stocks Are Not.

​India's Nifty50 hit its all-time high while many stocks are near 52-week lows. We identify 17 stocks with strong earnings growth, good balance...

Manishi Raychaudhuri

India's Nifty50 hit its all-time high while many stocks are near 52-week lows. We identify 17 stocks with strong earnings growth, good balance...