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

<div><div><div><div><ul><li>Accenture reported robust Q4FY22 numbers that were in line with the street expectations.</li><li>Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side constraints.</li><li>Operating margins grew by 10bps and stood at 17.4%. The company’s EPS for FY22 stood at $10.7, up 17% from the $9.16 it reported in FY21 and 22% from the adjusted EPS of $8.80 in FY21 (this excluded $0.36 in gains on an investment). </li></ul></div></div></div></div><p><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.</em></p>

Accenture reported robust Q4FY22 numbers that were in line with the street expectations.Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side constraints.Operating margins grew by 10bps and stood at 17.4%. The company’s EPS for FY22 stood at $10.7, up 17% from the $9.16 it reported in FY21 and 22% from the adjusted EPS of $8.80 in FY21 (this excluded $0.36 in gains on an investment). 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 - Results In-Line With Expectation

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

<ul><li>LTI and Mindtree announced their much-expected merger on 6th May, (LTIM) will be the new India heritage IT player.</li><li>If current execution of both companies holds up, we think it could outpace Tier-1 set growth over the next 10 years.</li><li>Also, with both revenue and cost synergies, we believe there is potential for net margin gap between LTIM and TCS/Infosys (currently at 300-500bps) to narrow, leading to faster than pe...(continued).</li></ul><p><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.</em></p>

LTI and Mindtree announced their much-expected merger on 6th May, (LTIM) will be the new India heritage IT player.If current execution of both companies holds up, we think it could outpace Tier-1 set growth over the next 10 years.Also, with both revenue and cost synergies, we believe there is potential for net margin gap between LTIM and TCS/Infosys (currently at 300-500bps) to narrow, leading to faster than pe...(continued).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.

LTI-Mindtree: To Eat More from Tier-2 Plate near Term

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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>LTI reported a growth of 3.6% QoQ CC on a high base, below our estimate of 4.2%.</li><li>Growth was broad-based across verticals and service lines.</li><li>EBIT margin moderated by 60bp QoQ to 17.3% in 4QFY22 (inline) due to lower working days and revenue mix</li></ul><p><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.</em></p>

LTI reported a growth of 3.6% QoQ CC on a high base, below our estimate of 4.2%.Growth was broad-based across verticals and service lines.EBIT margin moderated by 60bp QoQ to 17.3% in 4QFY22 (inline) due to lower working days and revenue mixContent 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.

Larsen and Toubro Infotech: Strong FY23 Outlook, but Valuations Remain Rich

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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>Larsen &amp; Toubro Infotech (LTI) offers application development, IMS, digital solution services to BFSI, retail, health, media &amp; hi-tech verticals</li><li>LTI has 71 Fortune-500 clients with a presence in North America &amp; Europe</li><li>We maintain BUY rating on the stock Target Price and Valuation: We value LTI at Rs 8050 i.e. 42x FY23E EPS</li></ul><div class="content-highlight"><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.</em></div>

Larsen &amp; Toubro Infotech (LTI) offers application development, IMS, digital solution services to BFSI, retail, health, media &amp; hi-tech verticalsLTI has 71 Fortune-500 clients with a presence in North America &amp; EuropeWe maintain BUY rating on the stock Target Price and Valuation: We value LTI at Rs 8050 i.e. 42x FY23E EPSContent 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.

Larsen & Toubro Infotech Ltd: Margin Expansion Stands Out

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.

<p>JSW Energy: Higher realisation and increased generation at the Vijayanagar and hydro plants boosted Q3FY22 PAT by 126% YoY to INR3.2bn (above ours and consensus estimate). Net generation, however, declined 2.6% YoY to 4.5bn units, owing to lower generation across the Ratnagiri plant (on plant maintenance). Accordingly, PLF declined for the Ratnagiri stations, but was up for Vijayanagar and hydro plants; it was largely flat for the Barmer station. EBITDA too increased 31% YoY, aided by an improved topline and flat fuel cost (given job work arrangement by the company).</p>
<div class="content-highlight"><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.</em></div>

JSW Energy: Higher realisation and increased generation at the Vijayanagar and hydro plants boosted Q3FY22 PAT by 126% YoY to INR3.2bn (above ours and consensus estimate). Net generation, however, declined 2.6% YoY to 4.5bn units, owing to lower generation across the Ratnagiri plant (on plant maintenance). Accordingly, PLF declined for the Ratnagiri stations, but was up for Vijayanagar and hydro plants; it was largely flat for the Barmer station. EBITDA too increased 31% YoY, aided by an improved topline and flat fuel cost (given job work arrangement by the company).
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.

HSIE Results Daily: L&T Infotech, ICICI Lombard, JSW Energy, Tata Elxsi

India

LTM Limited is an Indian multinational information technology services and consulting company. It provides a range of IT services including cloud and infrastructure, cybersecurity, data and insights, digital engineering, and platform operations services to clients across diverse industries. The company was founded on December 23, 1996, and is headquartered in Mumbai, India.

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LTM (LTM IN)

Accenture - Results In-Line With Expectation

Revenue for the quarter stood at $15.4 Bn, posting a healthy growth of 15% YoY in USD and 22.4% in local currency despite rising supply-side...

Axis Direct

LTI-Mindtree: To Eat More from Tier-2 Plate near Term

LTI and Mindtree announced their much-expected merger on 6th May, (LTIM) will be the new India heritage IT player. If current execution of both...

Nirmal Bang

Larsen and Toubro Infotech: Strong FY23 Outlook, but Valuations Remain Rich

LTI reported a growth of 3.6% QoQ CC on a high base, below our estimate of 4.2%.Growth was broad-based across verticals and service lines.EBIT...

Motilal Oswal

Larsen & Toubro Infotech Ltd: Margin Expansion Stands Out

Larsen & Toubro Infotech (LTI) offers application development, IMS, digital solution services to BFSI, retail, health, media & hi-tech verticals

ICICI Securities Limited

HSIE Results Daily: L&T Infotech, ICICI Lombard, JSW Energy, Tata Elxsi

JSW Energy: Higher realisation and increased generation at the Vijayanagar and hydro plants boosted Q3FY22 PAT by 126% YoY to INR3.2bn (above ours...

HDFC Securities

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