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>The IT sector growth is in the middle of its recovery, having bottomed out two quarters ago, and is expected to achieve a high single-digit over the next three quarters</li><li>Current stock prices reflect increased confidence in this trajectory</li><li>AI is proving to be a net positive for the sector, and with GCC growth differential peaking, concerns around terminal growth are easing, supporting sustained 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 sector growth is in the middle of its recovery, having bottomed out two quarters ago, and is expected to achieve a high single-digit over the next three quartersCurrent stock prices reflect increased confidence in this trajectoryAI is proving to be a net positive for the sector, and with GCC growth differential peaking, concerns around terminal growth are easing, supporting sustained demandContent 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.

IT Sector (Q2FY25E Results Preview): Recovery in progress

External broker reports(aggregated public sources), Sharekhan

Sharekhan

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

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>The company expects growth in Q2 to be similar to Q1, with momentum in BFS expected to continue for the full year.</li><li>Management believes utilisation has peaked and expects fresher intake, pyramid, and revenue growth to be margin levers.</li><li>Benefits of the merger are gradually playing out, creating valuable cross-selling opportunities, especially in Digital Engineering, Data, and ERP.</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 company expects growth in Q2 to be similar to Q1, with momentum in BFS expected to continue for the full year.Management believes utilisation has peaked and expects fresher intake, pyramid, and revenue growth to be margin levers.Benefits of the merger are gradually playing out, creating valuable cross-selling opportunities, especially in Digital Engineering, Data, and ERP.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.

LTIMindtree Ltd - BFS to Drive Growth, Maintain BUY

<ul><li>We hosted over 15 companies and several industry experts at the HDFC Securities’ 8th annual IT conference</li><li>Key takeaways included (1) continued (prosaic) commentary on cost optimisation focus but signs of improvement in demand</li><li>(2) stable to upward bias in pricing and some improvement in the decision cycle</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 hosted over 15 companies and several industry experts at the HDFC Securities’ 8th annual IT conferenceKey takeaways included (1) continued (prosaic) commentary on cost optimisation focus but signs of improvement in demand(2) stable to upward bias in pricing and some improvement in the decision cycleContent 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>Bajaj Auto: Driven by a better mix, Bajaj Auto’s Q1 PAT at INR19.9bn was ahead of our estimate</li><li>There has been an uptick in prices of aluminum, copper, rubber, and metals like rhodium and platinum, which has been offset by steady prices of steel, nickel, lead, and palladium and the company’s cost reduction initiatives</li><li>Price increases taken in the ICE portfolio offset the price reduction taken in the electric portfolio</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.

Bajaj Auto: Driven by a better mix, Bajaj Auto’s Q1 PAT at INR19.9bn was ahead of our estimateThere has been an uptick in prices of aluminum, copper, rubber, and metals like rhodium and platinum, which has been offset by steady prices of steel, nickel, lead, and palladium and the company’s cost reduction initiativesPrice increases taken in the ICE portfolio offset the price reduction taken in the electric portfolioContent 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.

HSIE Results Daily: Bajaj Auto, LTIMindtree, L&T Technology Services, Karur Vysya Bank, Mastek

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

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>LTIM reported robust revenue growth of 2.6% QoQ CC (USD 2.5% QoQ), ahead of our estimates of 1.9% CC &amp; consensus (1.6% QoQ).</li><li>The growth was broad-based across key verticals and geographies with TMC and NA grew 7.9% and 4.4% QoQ, respectively.</li><li>EBIT margin reported at 15.0% in Q1, up 30 bps (in-line with our est.</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.

LTIM reported robust revenue growth of 2.6% QoQ CC (USD 2.5% QoQ), ahead of our estimates of 1.9% CC &amp; consensus (1.6% QoQ).The growth was broad-based across key verticals and geographies with TMC and NA grew 7.9% and 4.4% QoQ, respectively.EBIT margin reported at 15.0% in Q1, up 30 bps (in-line with our est.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.

LTIMindtree (LTIM IN) - On a Growth Trajectory

India

LTIMindtree Limited provides information technology services and solutions. The Company offers analytics and information management, enterprise integration, applications management, cloud computing, testing, and consulting services, as well as geographical information and manufacturing execution systems. LTIMindtree serves customers worldwide.

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LTIMindtree (LTIM IN)

IT Sector (Q2FY25E Results Preview): Recovery in progress

The IT sector growth is in the middle of its recovery, having bottomed out two quarters ago, and is expected to achieve a high single-digit over...

HDFC Securities

LTIMindtree Ltd - BFS to Drive Growth, Maintain BUY

The company expects growth in Q2 to be similar to Q1, with momentum in BFS expected to continue for the full year. Management believes utilisation...

Sharekhan

IT Sector: Recovery Signs

Key takeaways included (1) continued (prosaic) commentary on cost optimisation focus but signs of improvement in demand (2) stable to upward bias...

HDFC Securities

HSIE Results Daily: Bajaj Auto, LTIMindtree, L&T Technology Services, Karur Vysya Bank, Mastek

Bajaj Auto: Driven by a better mix, Bajaj Auto’s Q1 PAT at INR19.9bn was ahead of our estimate. There has been an uptick in prices of aluminum,...

HDFC Securities

LTIMindtree (LTIM IN) - On a Growth Trajectory

LTIM reported robust revenue growth of 2.6% QoQ CC (USD 2.5% QoQ), ahead of our estimates of 1.9% CC & consensus (1.6% QoQ).

Prabhudas Lilladhar

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52-week Range

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