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

Housing and Urban Development Corporation / Equity Bottom-Up

Housing and Urban Development Corporation (HUDCO IN)

Housing and Urban Development Corporation

<ul>
<li>The headline Indian mid cap indices are still expensive, despite a sharp decline since late September. However, when adjusted for growth, many fundamentally attractive mid-caps are cheap.</li>
<li>We screen mid-caps with PEG&lt;1.3x, consensus Buy recommendations and increasing consensus EPS estimates over the past six months. We choose well-covered stocks so that the consensus estimates are meaningful.</li>
<li>Our basket of 20 contains six financial stocks, five materials, four industrials and three consumer discretionaries. Many pertain to the themes of renewable energy, data centers, healthcare, tourism and infrastructure.</li>
</ul>


The headline Indian mid cap indices are still expensive, despite a sharp decline since late September. However, when adjusted for growth, many fundamentally attractive mid-caps are cheap.
We screen mid-caps with PEG&lt;1.3x, consensus Buy recommendations and increasing consensus EPS estimates over the past six months. We choose well-covered stocks so that the consensus estimates are meaningful.
Our basket of 20 contains six financial stocks, five materials, four industrials and three consumer discretionaries. Many pertain to the themes of renewable energy, data centers, healthcare, tourism and infrastructure.


Asian Equities: Twenty Attractive and Cheap Indian Mid-Caps

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.

<ul><li>Volume Growth Across All Segments: The company managed to garner total volume growth of 33% YoY.</li><li>The volume growth was particularly strong in Aluminium as the company liquidated the previously accumulated inventory.</li><li>Contribution from value-added products increased further during the quarter (46%), and the company continues to see improved domestic scrap availability due to recent regulatory changes. </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.

Volume Growth Across All Segments: The company managed to garner total volume growth of 33% YoY.The volume growth was particularly strong in Aluminium as the company liquidated the previously accumulated inventory.Contribution from value-added products increased further during the quarter (46%), and the company continues to see improved domestic scrap availability due to recent regulatory changes. 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.

Gravita India Ltd. - Volume Growth Continues; Maintain BUY

<ul><li>Continued volume growth in Lead and Aluminium: The company noted that recent regulatory changes have improved scrap availability, contributing to an overall volume growth of 8% during the quarter.</li><li>However, the reported volume growth was partially impacted as some output from the overseas subsidiary was utilized for manufacturing further refined products internally (in India).</li><li>The management reiterated its three-year volume growth expectations at a CAGR of 25%, which remains unchanged, and the company is expected to achieve a similar growth range in 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.

Continued volume growth in Lead and Aluminium: The company noted that recent regulatory changes have improved scrap availability, contributing to an overall volume growth of 8% during the quarter.However, the reported volume growth was partially impacted as some output from the overseas subsidiary was utilized for manufacturing further refined products internally (in India).The management reiterated its three-year volume growth expectations at a CAGR of 25%, which remains unchanged, and the company is expected to achieve a similar growth range in 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.

Gravita India Ltd. - Volume and Margin Growth Continue; Maintain BUY

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and 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.

<ul><li>Gravita India Ltd (Gravita), one of the largest recycling companies in India, is well positioned to benefit from strong industry tailwinds and healthy traction within the sector.</li><li>Its Lead recycling vertical, which accounted for ~88% of revenue in FY24, is expected to achieve significant growth in the domestic market due to favorable regulatory changes.</li><li>Additionally, the expansion of its geographical reach and product portfolio will be key drivers of its international business.</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.

Gravita India Ltd (Gravita), one of the largest recycling companies in India, is well positioned to benefit from strong industry tailwinds and healthy traction within the sector.Its Lead recycling vertical, which accounted for ~88% of revenue in FY24, is expected to achieve significant growth in the domestic market due to favorable regulatory changes.Additionally, the expansion of its geographical reach and product portfolio will be key drivers of its international business.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.

Gravita (India) - Turning Trash into Triumph, Globally

<ul><li>We are initiating coverage on Gravita India Ltd. (Gravita) with a BUY recommendation and a target price of Rs 3,000/share, implying an upside of 20% from the CMP.</li><li>Established in 1992, Gravita India Ltd is a leading recycling company and one of the largest lead producers in India.</li><li>The company's business is organized across four specialized verticals: Lead Recycling (flagship), Aluminum Recycling, Plastic Recycling and Turnkey Projects. </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.

We are initiating coverage on Gravita India Ltd. (Gravita) with a BUY recommendation and a target price of Rs 3,000/share, implying an upside of 20% from the CMP.Established in 1992, Gravita India Ltd is a leading recycling company and one of the largest lead producers in India.The company's business is organized across four specialized verticals: Lead Recycling (flagship), Aluminum Recycling, Plastic Recycling and Turnkey Projects. 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.

Gravita India Ltd. - Capitalizing on the Recycling Revolution

India

Gravita India is a global recycling company specializing in the recycling of lead, aluminum, plastic, lithium-ion batteries, and waste tires through environmentally responsible processes. The company also provides turnkey recycling solutions globally. It was founded in 1992 and is headquartered in Jaipur, India.

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Gravita India (GRAV IN)

Asian Equities: Twenty Attractive and Cheap Indian Mid-Caps

Indian midcap indices are pricey despite recent drop, but many fundamentally strong midcaps offer value when growth is factored in. Our screen on...

Manishi Raychaudhuri

Gravita India Ltd. - Volume Growth Continues; Maintain BUY

The company managed to garner total volume growth of 33% YoY. The volume growth was particularly strong in Aluminium as the company liquidated the...

Axis Direct

Gravita India Ltd. - Volume and Margin Growth Continue; Maintain BUY

The company noted that recent regulatory changes have improved scrap availability, contributing to an overall volume growth of 8% during the quarter.

Axis Direct

Gravita (India) - Turning Trash into Triumph, Globally

Gravita India Ltd (Gravita), one of the largest recycling companies in India, is well positioned to benefit from strong industry tailwinds and...

Motilal Oswal

Gravita India Ltd. - Capitalizing on the Recycling Revolution

We are initiating coverage on Gravita India Ltd. (Gravita) with a BUY recommendation and a target price of Rs 3,000/share, implying an upside of...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Asian Equities: Twenty Attractive and Cheap Indian Mid-Caps

​Indian midcap indices are pricey despite recent drop, but many fundamentally strong midcaps offer value when growth is factored in. Our screen on...

Manishi Raychaudhuri

Gravita India Ltd. - Volume Growth Continues; Maintain BUY

The company managed to garner total volume growth of 33% YoY. The volume growth was particularly strong in Aluminium as the company liquidated the...

Axis Direct

Gravita India Ltd. - Volume and Margin Growth Continue; Maintain BUY

The company noted that recent regulatory changes have improved scrap availability, contributing to an overall volume growth of 8% during the quarter.

Axis Direct

Gravita (India) - Turning Trash into Triumph, Globally

Gravita India Ltd (Gravita), one of the largest recycling companies in India, is well positioned to benefit from strong industry tailwinds and...

Motilal Oswal

Gravita India Ltd. - Capitalizing on the Recycling Revolution

We are initiating coverage on Gravita India Ltd. (Gravita) with a BUY recommendation and a target price of Rs 3,000/share, implying an upside of...

Axis Direct

Indian midcap indices are pricey despite recent drop, but many fundamentally strong midcaps offer value when growth is factored in. Our screen on...