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.

Equity Bottom-Up

<ul><li>Market Share - In Q2FY24, ISEC has been able to either improve or maintain market share across segments.</li><li>Market share in the cash segment improved to 12.8% vs 12.2% QoQ.</li><li>Similarly, market share in the commodity segment improved to 7.8% vs 7.2% QoQ.</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 Share - In Q2FY24, ISEC has been able to either improve or maintain market share across segments.Market share in the cash segment improved to 12.8% vs 12.2% QoQ.Similarly, market share in the commodity segment improved to 7.8% vs 7.2% QoQ.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.

ICICI Securities Ltd. - Robust Quarter, Strong Performance Across Segments!

<ul><li>In Q1FY24, ISEC has been able to either improve or maintain its market share across segments.</li><li>Its market share in the cash segment improved to 12.2% vs. 9.7/11% YoY/QoQ.</li><li>Similarly, market share in the commodity segment improved to 7.2% vs. 4.4%/6.1% YoY/QoQ.</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 Q1FY24, ISEC has been able to either improve or maintain its market share across segments.Its market share in the cash segment improved to 12.2% vs. 9.7/11% YoY/QoQ.Similarly, market share in the commodity segment improved to 7.2% vs. 4.4%/6.1% YoY/QoQ.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.

ICICI Securities Ltd. - Progressing Well in Focus Segments!

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.

Thematic (Sector/Industry)

<ul><li>ICICI Securities: ISEC printed a 5% QoQ de-growth in retail broking revenue on a weak base (Q3FY23: -20% YoY), on the back of muted cash volumes and a sharp dip in equity yields</li><li>We are encouraged by the management’s focus on improving its derivatives market share and diversifying revenue streams</li><li>We draw comfort from ISEC’s renewed focus on building digital prowess, albeit, given its high dependence on cash ADTVs (56% of retail broking mix), we reiterate our core thesis on the cyclicality in its revenues</li><li>We trim our EPS estimates by 2/3% for FY24E/25E to factor in weak momentum in cash ADTVs and higher staff costs, maintain ADD with a lower target price of INR600 (14x Mar-25E EPS, rolling forward multiple adjustment from 15x to 14x).</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.

ICICI Securities: ISEC printed a 5% QoQ de-growth in retail broking revenue on a weak base (Q3FY23: -20% YoY), on the back of muted cash volumes and a sharp dip in equity yieldsWe are encouraged by the management’s focus on improving its derivatives market share and diversifying revenue streamsWe draw comfort from ISEC’s renewed focus on building digital prowess, albeit, given its high dependence on cash ADTVs (56% of retail broking mix), we reiterate our core thesis on the cyclicality in its revenuesWe trim our EPS estimates by 2/3% for FY24E/25E to factor in weak momentum in cash ADTVs and higher staff costs, maintain ADD with a lower target price of INR600 (14x Mar-25E EPS, rolling forward multiple adjustment from 15x to 14x).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 - ICICI Securities, Mastek

<ul><li>ICICI Securities: ISEC printed a 5% QoQ de-growth in retail broking revenue on a weak base (Q3FY23: -20% YoY), on the back of muted cash volumes and a sharp dip in equity yields</li><li>We are encouraged by the management’s focus on improving its derivatives market share and diversifying revenue streams</li><li>We draw comfort from ISEC’s renewed focus on building digital prowess, albeit, given its high dependence on cash ADTVs (56% of retail broking mix), we reiterate our core thesis on the cyclicality in its revenues</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.

ICICI Securities: ISEC printed a 5% QoQ de-growth in retail broking revenue on a weak base (Q3FY23: -20% YoY), on the back of muted cash volumes and a sharp dip in equity yieldsWe are encouraged by the management’s focus on improving its derivatives market share and diversifying revenue streamsWe draw comfort from ISEC’s renewed focus on building digital prowess, albeit, given its high dependence on cash ADTVs (56% of retail broking mix), we reiterate our core thesis on the cyclicality in its revenuesContent 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 - CICI Securities, Mastek

<ul><li>Bringing stability in Revenues – ISEC has sharpened its focus on (1) Wealth management franchise with a thrust on improving share of recurring assets/revenues, (2) Derivatives segment, (3) Insurance with focus on both life insurance and general and health insurance, and (4) adding Personal Loans to the existing Loan disbursements, with the aim to reduce its dependence on the broking business, thereby bringing more stability to the revenues.</li><li>While near-term headwinds on broking income persists, we expect distribution income to support overall revenue growth.</li><li>Focus remains on improving the market share in the Derivatives segment – With its focused efforts towards improving market share in the Derivatives segment, ISEC is witnessing gradual improvement and good traction across operational metrics in the same.</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.

Bringing stability in Revenues – ISEC has sharpened its focus on (1) Wealth management franchise with a thrust on improving share of recurring assets/revenues, (2) Derivatives segment, (3) Insurance with focus on both life insurance and general and health insurance, and (4) adding Personal Loans to the existing Loan disbursements, with the aim to reduce its dependence on the broking business, thereby bringing more stability to the revenues.While near-term headwinds on broking income persists, we expect distribution income to support overall revenue growth.Focus remains on improving the market share in the Derivatives segment – With its focused efforts towards improving market share in the Derivatives segment, ISEC is witnessing gradual improvement and good traction across operational metrics in the same.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.

ICICI Securities - Focus on Market Share Improvement

India

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. ICICI Securities serves customers in India.

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ICICI Securities Ltd (ISEC IN)

ICICI Securities Ltd. - Robust Quarter, Strong Performance Across Segments!

Market Share - In Q2FY24, ISEC has been able to either improve or maintain market share across segments. Market share in the cash segment improved...

Axis Direct

ICICI Securities Ltd. - Progressing Well in Focus Segments!

In Q1FY24, ISEC has been able to either improve or maintain its market share across segments. Its market share in the cash segment improved to...

Axis Direct

HSIE Results Daily - ICICI Securities, Mastek

ICICI Securities: ISEC printed a 5% QoQ de-growth in retail broking revenue on a weak base (Q3FY23: -20% YoY), on the back of muted cash volumes...

HDFC Securities

HSIE Results Daily - CICI Securities, Mastek

ICICI Securities: ISEC printed a 5% QoQ de-growth in retail broking revenue on a weak base (Q3FY23: -20% YoY), on the back of muted cash volumes...

HDFC Securities

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ICICI Securities Ltd. - Robust Quarter, Strong Performance Across Segments!

Market Share - In Q2FY24, ISEC has been able to either improve or maintain market share across segments. Market share in the cash segment improved...

Axis Direct

ICICI Securities Ltd. - Progressing Well in Focus Segments!

In Q1FY24, ISEC has been able to either improve or maintain its market share across segments. Its market share in the cash segment improved to...

Axis Direct

HSIE Results Daily - ICICI Securities, Mastek

ICICI Securities: ISEC printed a 5% QoQ de-growth in retail broking revenue on a weak base (Q3FY23: -20% YoY), on the back of muted cash volumes...

HDFC Securities

HSIE Results Daily - CICI Securities, Mastek

ICICI Securities: ISEC printed a 5% QoQ de-growth in retail broking revenue on a weak base (Q3FY23: -20% YoY), on the back of muted cash volumes...

HDFC Securities

ICICI Securities - Focus on Market Share Improvement

While near-term headwinds on broking income persists, we expect distribution income to support overall revenue growth. Focus remains on improving...

Axis Direct