Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Event-Driven

<ul>
<li>In the past 24 hours, there have been many news flow about numerous US airports that have been cyber attacked by suspects from Russia. </li>
<li>The increasing media attention on cyberattack threat could result in greater concerns about cybersecurity inducing higher global spending on software and other services that help to protect against cyber attacks. </li>
<li>Global cybersecurity stocks that could benefit from greater media attention on cyberattacks include Palo Alto Networks (PANW US)  Crowdstrike Holdings Inc (CRWD US)  CloudFlare (NET US).  </li>
</ul>


In the past 24 hours, there have been many news flow about numerous US airports that have been cyber attacked by suspects from Russia. 
The increasing media attention on cyberattack threat could result in greater concerns about cybersecurity inducing higher global spending on software and other services that help to protect against cyber attacks. 
Global cybersecurity stocks that could benefit from greater media attention on cyberattacks include Palo Alto Networks (PANW US)  Crowdstrike Holdings Inc (CRWD US)  CloudFlare (NET US).  


Cyberattacks at Numerous US Airports by Suspects from Russia

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>The IT Services sector is expected to report resilient growth in Q2FY23 primarily led by the new large deal wins and a ramp-up of deals won in the previous quarter despite likely macroeconomic challenges.</li><li>IT spending in North America and Europe has remained robust due to strong demand for digital and cloud transformations.</li><li>We believe the said demand momentum is likely to remain intact at least for the quarter and don’t foresee any spending being cut in this quarter, at least from the large clients across geographies.</li></ul><p><em>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.</em></p>

The IT Services sector is expected to report resilient growth in Q2FY23 primarily led by the new large deal wins and a ramp-up of deals won in the previous quarter despite likely macroeconomic challenges.IT spending in North America and Europe has remained robust due to strong demand for digital and cloud transformations.We believe the said demand momentum is likely to remain intact at least for the quarter and don’t foresee any spending being cut in this quarter, at least from the large clients across geographies.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.

It & Telecom Q2fy23 Result Preview – Demand to Remain Robust

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.

<div><div><div><div><ul><li>IT sector is expected to post resilient Q2 performance in context of the current macro environment.</li><li>Tier-1 IT is expected to deliver sequential growth in the range of 2.4% to 4% CC.</li><li>Cross currency impact severity will be similar to last quarter with -1.3% to -1.8% sequential impact for Tier-1. </li></ul></div></div></div></div><p><em>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.</em></p>

IT sector is expected to post resilient Q2 performance in context of the current macro environment.Tier-1 IT is expected to deliver sequential growth in the range of 2.4% to 4% CC.Cross currency impact severity will be similar to last quarter with -1.3% to -1.8% sequential impact for Tier-1. 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.

Information Technology - Demand Resilience

Equity Bottom-Up

<div><div><div><div><ul><li>Accenture reported robust Q4FY22 numbers that were in line with the street expectations.</li><li>Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side constraints.</li><li>Operating margins grew by 10bps and stood at 17.4%. The company’s EPS for FY22 stood at $10.7, up 17% from the $9.16 it reported in FY21 and 22% from the adjusted EPS of $8.80 in FY21 (this excluded $0.36 in gains on an investment). </li></ul></div></div></div></div><p><em>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.</em></p>

Accenture reported robust Q4FY22 numbers that were in line with the street expectations.Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side constraints.Operating margins grew by 10bps and stood at 17.4%. The company’s EPS for FY22 stood at $10.7, up 17% from the $9.16 it reported in FY21 and 22% from the adjusted EPS of $8.80 in FY21 (this excluded $0.36 in gains on an investment). 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.

Accenture - Results In-Line With Expectation

<div><div><div><div><ul><li>Top-down assessment: Despite the correlation to the macro, the demand for the sector is structural (double-digit CAGR over five years is high probability).</li><li>Enterprise trends–growth vectors: Enterprise tech spends are strong and there’s limited impact on overall growth due to any vertical-specific slowdown.</li><li>Cloud partnerships–the second order impact: Tech value migration towards cloud providers is underway and will drive the growth curve of SIs.</li></ul><ul style="list-style-type: none;"><li><div><div><div><div><ul style="list-style-type: none;"><li> </li></ul></div></div></div></div></li></ul></div></div></div></div><p><em>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.</em></p>

Top-down assessment: Despite the correlation to the macro, the demand for the sector is structural (double-digit CAGR over five years is high probability).Enterprise trends–growth vectors: Enterprise tech spends are strong and there’s limited impact on overall growth due to any vertical-specific slowdown.Cloud partnerships–the second order impact: Tech value migration towards cloud providers is underway and will drive the growth curve of SIs. 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.

India

HCL Technologies Limited provides software development and related engineering services.  The Group's technologies utilize a variety of technologies, including Internet and e-commerce, networking, internet telephony, embedded software, ASIC/VLSI design and testing, satellite and wireless communications, and component based object technologies, including COM, DCOM and COBRA.

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HCL Technologies (HCLT IN)

Cyberattacks at Numerous US Airports by Suspects from Russia

In the past 24 hours, there have been many news flow about numerous US airports that have been cyber attacked by suspects from Russia. This could...

Douglas Kim

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