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>Revenue growth momentum impacted: The company saw a strong recovery in the BFSI and other verticals, and management anticipates continued demand momentum for Gen AI, along with enhanced client engagement.</li><li>This suggests the potential for improved realizations in the coming periods.</li><li>Robust Deal wins: The company’s TCV remained robust and exceeded our expectations, with deal wins totalling $2.4 Bn in Q2FY25.</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.

Revenue growth momentum impacted: The company saw a strong recovery in the BFSI and other verticals, and management anticipates continued demand momentum for Gen AI, along with enhanced client engagement.This suggests the potential for improved realizations in the coming periods.Robust Deal wins: The company’s TCV remained robust and exceeded our expectations, with deal wins totalling $2.4 Bn in Q2FY25.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.

Infosys Ltd - Broad-Based Growth; Management Upgrades Guidance for FY25

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.

<ul><li>We expect Infosys to outperform its peers in Q2FY25E growth, with an upside risk to its 3-4% FY25E guidance (our estimates are slightly above the upper range)</li><li>Positive markers include improved demand in segments of BFSI, market-share gains in deals (notably within the communications vertical), deal pipeline replenishment, and better hiring trends</li><li>The enterprise revenue growth trajectory shows a mild improvement, which may bolster recovery in discretionary spending</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 expect Infosys to outperform its peers in Q2FY25E growth, with an upside risk to its 3-4% FY25E guidance (our estimates are slightly above the upper range)Positive markers include improved demand in segments of BFSI, market-share gains in deals (notably within the communications vertical), deal pipeline replenishment, and better hiring trendsThe enterprise revenue growth trajectory shows a mild improvement, which may bolster recovery in discretionary spendingContent 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.

Infosys: On Your Marks, Get Set…Maintain ADD

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/oswal-pumps" target="_blank" data-smartkarma-citation="entities:43952:1" rel="noopener">Oswal Pumps (1019841D IN)</a> raised about US$162m in its India IPO.</li>
<li>Oswal Pumps Ltd (OPL) specializes in the manufacturing of solar-powered and conventional pumps, electric motors, and related components for agricultural, residential, and industrial applications.</li>
<li>We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>



Oswal Pumps (1019841D IN) raised about US$162m in its India IPO.
Oswal Pumps Ltd (OPL) specializes in the manufacturing of solar-powered and conventional pumps, electric motors, and related components for agricultural, residential, and industrial applications.
We have looked at the company’s past performance and valuations in our previous notes. In this note, we will talk about the trading dynamics.


Oswal Pumps IPO Trading - Decent Anchor; Strong Overall Demand

SAI Life Sciences / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sai-life-sciences" target="_blank" data-smartkarma-citation="entities:43724:1" rel="noopener">SAI Life Sciences (SAILS12 IN)</a> raised around US$360m in its India IPO in Dec 2024. The lockup on its pre-IPO investors is set to expire soon.</li>
<li>Sai Life Sciences is a contract research, development and manufacturing organisation providing end-to-end services across drug discovery, development and manufacturing value-chain, for small to global pharmaceutical innovators and biotechnology firms.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



SAI Life Sciences (SAILS12 IN) raised around US$360m in its India IPO in Dec 2024. The lockup on its pre-IPO investors is set to expire soon.
Sai Life Sciences is a contract research, development and manufacturing organisation providing end-to-end services across drug discovery, development and manufacturing value-chain, for small to global pharmaceutical innovators and biotechnology firms.
In this note, we will talk about the lockup dynamics and possible placement.


Sai Life Sciences IPO Lockup - US$840m Lockup Release; TPG Asia up 5.8x with a 24.8% Stake

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We are seeing snap-back rallies in the largest global economies -- notably the U.S. and Japan, and also Europe to a lesser extent. However...</li>
<li>We're expecting to see lower highs develop at prior breakdown levels at 2690-2700 on the TOPIX and 4884 on the EURO STOXX 50, which are significant resistance levels.</li>
<li>Watching SPX resistance at 5585, or possible test of YTD highs/marginal new high, all fitting with our ongoing belief (since July 25) that ACWI-US going through 1-to 4-month pullback/consolidation.</li>
</ul>


We are seeing snap-back rallies in the largest global economies -- notably the U.S. and Japan, and also Europe to a lesser extent. However...
We're expecting to see lower highs develop at prior breakdown levels at 2690-2700 on the TOPIX and 4884 on the EURO STOXX 50, which are significant resistance levels.
Watching SPX resistance at 5585, or possible test of YTD highs/marginal new high, all fitting with our ongoing belief (since July 25) that ACWI-US going through 1-to 4-month pullback/consolidation.


MSCI ACWI Consolidation Continues; Outlook Remains Neutral; Buys Across Defensives & Other Sectors

India

Infosys Limited provides IT consulting and software services, including e-business, program management and supply chain solutions. The Group's services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses specializing in the insurance, banking, telecommunication and manufacturing sectors.

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Infosys Ltd (INFO IN)

Infosys Ltd - Broad-Based Growth; Management Upgrades Guidance for FY25

The company saw a strong recovery in the BFSI and other verticals, and management anticipates continued demand momentum for Gen AI, along with...

Axis Direct

Infosys: On Your Marks, Get Set…Maintain ADD

We expect Infosys to outperform its peers in Q2FY25E growth, with an upside risk to its 3-4% FY25E guidance (our estimates are slightly above the...

HDFC Securities

Oswal Pumps IPO Trading - Decent Anchor; Strong Overall Demand

Oswal Pumps raised about US$162m in its India IPO. In this note, we will talk about the demand and trading dynamics, having looked at the...

Akshat Shah

Sai Life Sciences IPO Lockup - US$840m Lockup Release; TPG Asia up 5.8x with a 24.8% Stake

TPG Asia is selling 20.8m shares or 10% of the capital in Sai Life Sciences amounting to INR14.8bn (US$170m) at a floor price of INR 710/share, a...

Akshat Shah

MSCI ACWI Consolidation Continues; Outlook Remains Neutral; Buys Across Defensives & Other Sectors

MSCI $ACWI Consolidation Continues; Outlook Remains Neutral; Snap-Back Rallies in Japan $Nikkei $TOPIX, U.S. $SPX, Europe $STOXX fits with our view...

Vermilion Research

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