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>Growth tapers after six consecutive quarters of robust show: We estimate cement demand cooled off to ~7% YoY in Q3FY24, after delivering ~9-16% growth rate (average 12%) in the preceding six quarters</li><li>While demand remained strong in Oct, it slipped off in Nov/Dec—attributable to multiple reasons: elections in four states, flooding in the southern region, sand issues in certain states, and festivals</li><li>Thus, as against general expectations of demand firming up post-monsoon by ~10-15% QoQ, cement sales recovered a modest 4% QoQ, leading to demand tapering.</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.

Growth tapers after six consecutive quarters of robust show: We estimate cement demand cooled off to ~7% YoY in Q3FY24, after delivering ~9-16% growth rate (average 12%) in the preceding six quartersWhile demand remained strong in Oct, it slipped off in Nov/Dec—attributable to multiple reasons: elections in four states, flooding in the southern region, sand issues in certain states, and festivalsThus, as against general expectations of demand firming up post-monsoon by ~10-15% QoQ, cement sales recovered a modest 4% QoQ, leading to demand tapering.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.

Cement (Q3FY24 Results Preview): Industry Margin Surges to a Nine-Quarter High

External broker reports(aggregated public sources), Axis Direct

Axis Direct

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>Cement demand momentum moderated in Q3FY24: After witnessing double-digit volume growth in H1FY24, cement demand momentum moderated in Q3FY24.</li><li>This was on account of Diwali festivity, labour shortage, construction ban in NCR, and Assembly election in key States of MP, CG, Rajasthan, and Telangana.</li><li>After witnessing double-digit growth in Oct’23, cement demand moderated sharply in Nov’23 and remained subdued in Dec’23, though a slight pick-up towards the end of the month was observed. </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.

Cement demand momentum moderated in Q3FY24: After witnessing double-digit volume growth in H1FY24, cement demand momentum moderated in Q3FY24.This was on account of Diwali festivity, labour shortage, construction ban in NCR, and Assembly election in key States of MP, CG, Rajasthan, and Telangana.After witnessing double-digit growth in Oct’23, cement demand moderated sharply in Nov’23 and remained subdued in Dec’23, though a slight pick-up towards the end of the month was observed. 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>As we conclude the final page of 2023, we extend our heartfelt wishes for a 'Happy New Year' to all our valued patrons.</li><li>With great enthusiasm, we welcome 2024, anticipating a year filled with prosperity, peace, and happiness for you and your family.</li><li>At this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment endeavours further.</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.

As we conclude the final page of 2023, we extend our heartfelt wishes for a 'Happy New Year' to all our valued patrons.With great enthusiasm, we welcome 2024, anticipating a year filled with prosperity, peace, and happiness for you and your family.At this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment endeavours further.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>As we conclude the final page of 2023, we extend our heartfelt wishes for a 'Happy New Year' to all our valued patrons.</li><li>With great enthusiasm, we welcome 2024, anticipating a year filled with prosperity, peace, and happiness for you and your family.</li><li>At this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment endeavours further</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.

As we conclude the final page of 2023, we extend our heartfelt wishes for a 'Happy New Year' to all our valued patrons.With great enthusiasm, we welcome 2024, anticipating a year filled with prosperity, peace, and happiness for you and your family.At this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment endeavours furtherContent 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.

Equity Bottom-Up

<ul><li>Ongoing capacity expansion at its subsidiary progressing well</li><li>Setting up of a grinding unit in Surat</li><li>Railway siding work at Durg plant is going on as per plan</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.

Ongoing capacity expansion at its subsidiary progressing wellSetting up of a grinding unit in SuratRailway siding work at Durg plant is going on as per planContent 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.

JK Lakshmi Cement: Better Operating Performance Expected; Retain BUY

India

J.K. Lakshmi Cement Ltd. manufactures cement, which it sells under the brand name JK Lakshmi.

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JK Lakshmi Cement (JKLC IN)

Cement (Q3FY24 Results Preview): Industry Margin Surges to a Nine-Quarter High

We estimate cement demand cooled off to ~7% YoY in Q3FY24, after delivering ~9-16% growth rate (average 12%) in the preceding six quarters

HDFC Securities

Cement - Q3FY24 Earnings Preview

Cement demand momentum moderated in Q3FY24: After witnessing double-digit volume growth in H1FY24, cement demand momentum moderated in Q3FY24.

Axis Direct

Axis New Year Picks 2024

t this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment...

Axis Direct

Axis New Year Picks 2024

At this juncture, it gives us immense joy to announce our New Year picks for this year and we hope they will enhance and fortify your investment...

Axis Direct

JK Lakshmi Cement: Better Operating Performance Expected; Retain BUY

We roll over our estimates to FY26 and value the company at 8.5x FY26E EV/EBITDA to arrive at the TP of Rs 1,000/share, implying an upside...

Axis Direct

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