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>We recently hosted our second India Internet conference and leading internet companies (both listed and unlisted) participated in the event</li><li>Most internet companies have strong growth visibility but we believe more investments will be required to sustain the momentum</li><li>The startups are focusing more on profitable growth</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>

We recently hosted our second India Internet conference and leading internet companies (both listed and unlisted) participated in the eventMost internet companies have strong growth visibility but we believe more investments will be required to sustain the momentumThe startups are focusing more on profitable growthContent 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.

<div><div><div><div><ul><li>Exchanges: MCX options volume continued to remain strong (+30% QoQ) while futures ADTV remained under stress (-3.6% QoQ).</li><li>BSE has lost market share in all major segments and the exclusive cash segment volume has declined sharply (-39% QoQ), putting pressure on the transaction revenue.</li><li>CDSL: The pace of demat account addition is moderating for CDSL as it added ~1.4mn BO accounts in June-22, which is the lowest in the last 18 months.</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></div></div></div></div>

Exchanges: MCX options volume continued to remain strong (+30% QoQ) while futures ADTV remained under stress (-3.6% QoQ).BSE has lost market share in all major segments and the exclusive cash segment volume has declined sharply (-39% QoQ), putting pressure on the transaction revenue.CDSL: The pace of demat account addition is moderating for CDSL as it added ~1.4mn BO accounts in June-22, which is the lowest in the last 18 months.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.

Exchanges, Staffing and Internet - Mixed Bag; Margin Cuts

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.

Equity Bottom-Up

<ul><li>Info Edge (INFOE) delivered in-line revenue growth in 3QFY25, with standalone revenue rising 12.8% YoY/2.4% QoQ.</li><li>EBITDA margin came in at 43.1% (up 130bp QoQ/270bp YoY), beating our estimate of 40.6%.</li><li>Overall billings were up 15.8% YoY and stood at INR6.7b.</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>

Info Edge (INFOE) delivered in-line revenue growth in 3QFY25, with standalone revenue rising 12.8% YoY/2.4% QoQ.EBITDA margin came in at 43.1% (up 130bp QoQ/270bp YoY), beating our estimate of 40.6%.Overall billings were up 15.8% YoY and stood at INR6.7b.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>INFOE delivered a strong revenue growth in 2QFY23, with a standalone revenue growth of 51% YoY (inline), led by 41% growth in the Recruitment vertical.</li><li>EBITDA margin rose 250bp QoQ to 34.6% on account of lower employee and advertisement spends.</li><li>Billings in 2QFY23 remained strong, but grew at a relatively slower pace (up 30% YoY to INR5.4b).</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>

INFOE delivered a strong revenue growth in 2QFY23, with a standalone revenue growth of 51% YoY (inline), led by 41% growth in the Recruitment vertical.EBITDA margin rose 250bp QoQ to 34.6% on account of lower employee and advertisement spends.Billings in 2QFY23 remained strong, but grew at a relatively slower pace (up 30% YoY to INR5.4b).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.

Info Edge (India) - Non-IT Demand to Partially Compensate for the Slowdown in Tech

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory 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>About the stock: Info Edge provides internet based service delivery like recruitment services (Naukri), real estate (99 acres), Jeevansaathi and Shiksha.</li><li>Quasi play on Indian start up like Zomato, PolicyBazaar, Shoekonect, Ustra, Gramophone and job market, matrimony services &amp; real estate market</li><li>Prudent capital allocation and recruitment business EBITDA margin &gt;50%</li></ul><div class="content-highlight"><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></div>

About the stock: Info Edge provides internet based service delivery like recruitment services (Naukri), real estate (99 acres), Jeevansaathi and Shiksha.Quasi play on Indian start up like Zomato, PolicyBazaar, Shoekonect, Ustra, Gramophone and job market, matrimony services &amp; real estate marketPrudent capital allocation and recruitment business EBITDA margin &gt;50%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.

Info Edge: Strong Hiring, Rebound in Real Estate Augurs Well

India

Info Edge is an Indian technology holding company that owns, operates, and invests in internet-led businesses. It provides online platforms for recruitment (Naukri.com), real estate (99acres.com), matrimony (Jeevansathi.com), and education (Shiksha.com), along with strategic investments in technology startups. The company is headquartered in Noida, Uttar Pradesh, India, and was founded in 1995.

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Info Edge (INFOE IN)

India Internet: Path to profitability

We recently hosted our second India Internet conference and leading internet companies (both listed and unlisted) participated in the event.

HDFC Securities

Exchanges, Staffing and Internet - Mixed Bag; Margin Cuts

Exchanges: MCX options volume continued to remain strong (+30% QoQ) while futures ADTV remained under stress (-3.6% QoQ).

HDFC Securities

Info Edge - Momentum Gaining Strength

Info Edge (INFOE) delivered in-line revenue growth in 3QFY25, with standalone revenue rising 12.8% YoY/2.4% QoQ. EBITDA margin came in at 43.1% (up...

Motilal Oswal

Info Edge (India) - Non-IT Demand to Partially Compensate for the Slowdown in Tech

INFOE delivered a strong revenue growth in 2QFY23, with a standalone revenue growth of 51% YoY (inline), led by 41% growth in the Recruitment...

Motilal Oswal

Info Edge: Strong Hiring, Rebound in Real Estate Augurs Well

Info Edge provides internet based service delivery like recruitment services (Naukri), real estate (99 acres), Jeevansaathi and Shiksha.

ICICI Securities Limited

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