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. 

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Equity Bottom-Up

<ul><li>Macro Environment Outlook: The overall macro environment has shown a marked improvement, with uncertainty levels reducing by over 50% compared to Q4FY25.</li><li>Europe displayed strong traction during the quarter as clients began transitioning their supply chains from local to more globally integrated ecosystems.</li><li>Deal Wins/Pipeline: The company announced a major multi-year, multi-domain deal from a leading European OEM. </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.

Macro Environment Outlook: The overall macro environment has shown a marked improvement, with uncertainty levels reducing by over 50% compared to Q4FY25.Europe displayed strong traction during the quarter as clients began transitioning their supply chains from local to more globally integrated ecosystems.Deal Wins/Pipeline: The company announced a major multi-year, multi-domain deal from a leading European OEM. 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.

KPIT Technologies Ltd - Impact of Acquisition Spends; Significant Recovery from FY27

Thematic (Sector/Industry)

<ul><li>Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.</li><li>Notably, our benchmark index, the Nifty 50, reached the historic milestone of 26,216 on September 26, 2024, for the first time ever.</li><li>This achievement has propelled the Indian market capitalization to surpass the $5 Trillion mark, positioning it as the fourth largest market globally. </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.

Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.Notably, our benchmark index, the Nifty 50, reached the historic milestone of 26,216 on September 26, 2024, for the first time ever.This achievement has propelled the Indian market capitalization to surpass the $5 Trillion mark, positioning it as the fourth largest market globally. 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 Q2FY25 earnings season was marked by a) Good rainfall across the country 2) Stronger E-way bill, GST collection and cargo traffic, 3) Resilient macro-economic outlook, 4) Full-year Union Budget, 5) Moderation in power demand, PMI manufacturing and Services and 6) Volatile Oil prices.</li><li>Based on the normal monsoon, higher reservoir levels, government budgetary allocations are indicating green shoots in the rural recovery for the second half of FY25.</li><li>Earnings growth for the quarter will be driven by Financials, IT, Telecom, Healthcare and Utilities while earnings for cyclical sectors like Oil &amp; Gas and Metals is likely to see some decline. </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 Q2FY25 earnings season was marked by a) Good rainfall across the country 2) Stronger E-way bill, GST collection and cargo traffic, 3) Resilient macro-economic outlook, 4) Full-year Union Budget, 5) Moderation in power demand, PMI manufacturing and Services and 6) Volatile Oil prices.Based on the normal monsoon, higher reservoir levels, government budgetary allocations are indicating green shoots in the rural recovery for the second half of FY25.Earnings growth for the quarter will be driven by Financials, IT, Telecom, Healthcare and Utilities while earnings for cyclical sectors like Oil &amp; Gas and Metals is likely to see some decline. 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 IT Services sector is anticipated to exhibit moderated growth in Q2FY25, primarily due to weaker discretionary spending, driven by uncertainties in macroeconomic conditions and upcoming elections in the US.</li><li>However, non-discretionary spending is expected to see some improvement. Many large enterprises are likely to prioritize cost optimizations, resulting in an increase in cost take-out deals, vendor consolidation, and reduced discretionary spending.</li><li>We are also expecting new deals to ramp-up indicating pick up in demand.</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 IT Services sector is anticipated to exhibit moderated growth in Q2FY25, primarily due to weaker discretionary spending, driven by uncertainties in macroeconomic conditions and upcoming elections in the US.However, non-discretionary spending is expected to see some improvement. Many large enterprises are likely to prioritize cost optimizations, resulting in an increase in cost take-out deals, vendor consolidation, and reduced discretionary spending.We are also expecting new deals to ramp-up indicating pick up in demand.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.

Q2FY25 Earnings Preview - Information Technology (IT)

<ul><li>Accenture’s reported Q4FY24 results stood in line with street expectations on all financial and operational terms.</li><li>Revenue for the quarter stood at $16.4 Bn, registering a growth of 3% (in US$ terms) and 5% (in local currency) on a YoY basis.</li><li>The company registered GAAP EPS of $2.66 for the quarter while adjusted EPS stood at $2.79, reporting 3% YoY growth. </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.

Accenture’s reported Q4FY24 results stood in line with street expectations on all financial and operational terms.Revenue for the quarter stood at $16.4 Bn, registering a growth of 3% (in US$ terms) and 5% (in local currency) on a YoY basis.The company registered GAAP EPS of $2.66 for the quarter while adjusted EPS stood at $2.79, reporting 3% YoY growth. 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.

Sector Update - IT - Accenture - Gradual Pick-Up in Demand

India

KPIT Technologies Limited is a global technology company specializing in software solutions for the automotive and mobility industry. The company provides embedded software, artificial intelligence, and digital solutions, focusing on next-generation technologies like autonomous driving, electric mobility, connected vehicles, and vehicle diagnostics. Headquartered in Pune, India, the company was founded in 1990.

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KPIT Technologies (KPITTECH IN)

KPIT Technologies Ltd - Impact of Acquisition Spends; Significant Recovery from FY27

Macro Environment Outlook: The overall macro environment has shown a marked improvement, with uncertainty levels reducing by over 50% compared to...

Axis Direct

Diamonds In The Dust - Samvat 2081

Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.

Axis Direct

Q2FY25 - Consolidated Earnings Preview

Based on our and consensus estimates, we forecast Nifty to deliver a Revenue/EBITDA/PAT growth of 4.5%/6%/4.1% respectively for the quarter.

Axis Direct

Q2FY25 Earnings Preview - Information Technology (IT)

The IT Services sector is anticipated to exhibit moderated growth in Q2FY25, primarily due to weaker discretionary spending, driven by...

Axis Direct

Sector Update - IT - Accenture - Gradual Pick-Up in Demand

The company continues to witness strong demand for Gen AI – the great accelerator of reinvention – with over $1 Bn in new bookings.

Axis Direct

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