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 Q2FY26 earnings season was marked with interesting events: 1) Mixed trends in US policies, 2) Indian currency depreciation, 3) Slower uptick in exports, 4) GST 2.0 announcement and implementation, 5) A normal and welldistributed monsoon, and 6) Good Reservoir levels.</li><li>All these developments suggest that the Q2FY26 earnings season is likely to exhibit a mixed trend, broadly in line with previous quarters that witnessed a relatively soft performance.</li><li>Some breather is expected in Q2FY26, led by sequential improvement in some of the pockets of high-frequency indicators; however, the broader consumption demand could still take one more quarter to get back on track and to undergo a complete inventory adjustment. </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.

The Q2FY26 earnings season was marked with interesting events: 1) Mixed trends in US policies, 2) Indian currency depreciation, 3) Slower uptick in exports, 4) GST 2.0 announcement and implementation, 5) A normal and welldistributed monsoon, and 6) Good Reservoir levels.All these developments suggest that the Q2FY26 earnings season is likely to exhibit a mixed trend, broadly in line with previous quarters that witnessed a relatively soft performance.Some breather is expected in Q2FY26, led by sequential improvement in some of the pockets of high-frequency indicators; however, the broader consumption demand could still take one more quarter to get back on track and to undergo a complete inventory adjustment. 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>Relative Underperformance Provides an Opportunity to Add Equity for the Long Term: On a YTD basis, the Indian market has underperformed the US market and other emerging markets by a notable margin.</li><li>FTSE India is now trading at a PE premium of 49% to the EM index (PE), vs. an average premium of 44%.</li><li>During Sep’24, the Indian market traded at a 97% PE premium to EM. </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.

Relative Underperformance Provides an Opportunity to Add Equity for the Long Term: On a YTD basis, the Indian market has underperformed the US market and other emerging markets by a notable margin.FTSE India is now trading at a PE premium of 49% to the EM index (PE), vs. an average premium of 44%.During Sep’24, the Indian market traded at a 97% PE premium to 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.

Axis Top Picks for the month of October 2025

<ul><li>Axis Top Picks Basket delivered a return of 16.2% in the last six months against the 10.4% returns posted by Nifty 50, outperforming the Nifty 50 by a notable margin of 5.8%.</li><li>Amidst a highly volatile month of Aug’25, which witnessed notably mixed performance across sectors, market caps, and style indices, the Axis Top Picks basket delivered a flattish return on an MoM basis, and managed to beat the benchmark Nifty 50, which declined by 1.4% over the same period.</li><li>It gives us immense joy to share that our Top Picks Basket has delivered an impressive return of 324% since its inception (May’20), which stands well above the 164% return delivered by the NIFTY 50 index over the same period.</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.

Axis Top Picks Basket delivered a return of 16.2% in the last six months against the 10.4% returns posted by Nifty 50, outperforming the Nifty 50 by a notable margin of 5.8%.Amidst a highly volatile month of Aug’25, which witnessed notably mixed performance across sectors, market caps, and style indices, the Axis Top Picks basket delivered a flattish return on an MoM basis, and managed to beat the benchmark Nifty 50, which declined by 1.4% over the same period.It gives us immense joy to share that our Top Picks Basket has delivered an impressive return of 324% since its inception (May’20), which stands well above the 164% return delivered by the NIFTY 50 index over the same period.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.

Axis Top Picks for the month of September 2025

<ul><li>Stock investment endeavours to deliver consistent outperformance in the long term by making a diversified investment of ‘Winners’.</li><li>Axis Intellect (AI) Score based Investment Approach for Stock Selection applies unique approach to deliver alpha by applying equal exposure to ‘Core’ and ‘Satellite’ factors.</li><li>What are ‘Core’ Factors’: Low Volatility, Value, Growth, Quality, Momentum (Equal weighted 50% exposure) </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.

Stock investment endeavours to deliver consistent outperformance in the long term by making a diversified investment of ‘Winners’.Axis Intellect (AI) Score based Investment Approach for Stock Selection applies unique approach to deliver alpha by applying equal exposure to ‘Core’ and ‘Satellite’ factors.What are ‘Core’ Factors’: Low Volatility, Value, Growth, Quality, Momentum (Equal weighted 50% exposure) 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>The Q4FY25 earnings season was marked by 1) Sequential improvement in capex spending, 2) A Series of positive measures in the domestic economy taken by the RBI and the government, 3) Volatile Currency, 4) Volatile Trade dynamics, and 5) Volatile Crude prices. All these developments indicate that the Q4FY25 earnings would show a mixed trend, similar to the previous quarters.</li><li>Some breather is expected in Q4FY25 numbers, led by sequential improvement in some of the pockets of high-frequency indicators.</li><li>However, the broader consumption demand could still take 1-2 quarters to get back on track. Overall, the improvement in earnings is expected in certain pockets like BFSI, IT, Healthcare, Telecom, and Industrials, while Consumer Staples, Retail, and cyclical sectors like Oil &amp; Gas remain under pressure. </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.

The Q4FY25 earnings season was marked by 1) Sequential improvement in capex spending, 2) A Series of positive measures in the domestic economy taken by the RBI and the government, 3) Volatile Currency, 4) Volatile Trade dynamics, and 5) Volatile Crude prices. All these developments indicate that the Q4FY25 earnings would show a mixed trend, similar to the previous quarters.Some breather is expected in Q4FY25 numbers, led by sequential improvement in some of the pockets of high-frequency indicators.However, the broader consumption demand could still take 1-2 quarters to get back on track. Overall, the improvement in earnings is expected in certain pockets like BFSI, IT, Healthcare, Telecom, and Industrials, while Consumer Staples, Retail, and cyclical sectors like Oil &amp; Gas remain under pressure. 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

Kirloskar Brothers Limited manufactures agricultural implements, power-driven pumps, sugarcane crushers, sluice valves, concrete mixers, ploughs, turbines, iron and steel castings and machine tools. The Group provides its customers with Finite Element Modelling and Computational Fluid Dynamics packages for Hydraulic analysis.  Kirloskar also supplies several turnkey Mini-Hydel power projects.

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Kirloskar Brothers (KKB IN)

Q2FY26 - Consolidated Earnings Preview

The Q2FY26 earnings season was marked with interesting events: 1) Mixed trends in US policies, 2) Indian currency depreciation, 3) Slower uptick in...

Axis Direct

Axis Top Picks for the month of October 2025

Relative Underperformance Provides an Opportunity to Add Equity for the Long Term: On a YTD basis, the Indian market has underperformed the US...

Axis Direct

Axis Top Picks for the month of September 2025

Axis Top Picks Basket delivered a return of 16.2% in the last six months against the 10.4% returns posted by Nifty 50, outperforming the Nifty 50...

Axis Direct

Axis Intellect - Aggressive

Stock investment endeavours to deliver consistent outperformance in the long term by making a diversified investment of ‘Winners’.

Axis Direct

Q4FY25 - Consolidated Earnings Preview

Based on our and consensus estimates, we forecast Nifty to deliver Revenue/EBITDA/PAT growth of 4.8%/2.9%/1.3% YoY, respectively, for the quarter.

Axis Direct

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