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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Thematic (Sector/Industry)

<ul><li>We are proud to share that our Axis Top Picks basket delivered impressive returns of 31% in the last one year till 1st Dec’23, beating the benchmark Nifty 50 index (8% return over the same period) by a wide margin.</li><li>In Nov’23, the basket inched up further by 6% (till 1st Dec’23). We are extremely happy to inform you that our Top Picks Basket has delivered an astounding return of 231% since its inception (May’20).</li><li>This stands well above the 119% return delivered by NIFTY 50 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.

We are proud to share that our Axis Top Picks basket delivered impressive returns of 31% in the last one year till 1st Dec’23, beating the benchmark Nifty 50 index (8% return over the same period) by a wide margin.In Nov’23, the basket inched up further by 6% (till 1st Dec’23). We are extremely happy to inform you that our Top Picks Basket has delivered an astounding return of 231% since its inception (May’20).This stands well above the 119% return delivered by NIFTY 50 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.

<ul><li>We are proud to share that our Axis Top Picks basket delivered impressive returns of 25% in the last one year, beating the benchmark Nifty 50 index (6% return over the same period) by a wide margin.</li><li>The basket, however, declined by 2.5% in Oct’23 on account of the volatile equity market.</li><li>Nonetheless, it still managed to beat the benchmark Nifty 50 as it de-grew more at 2.8% on an MoM basis. </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 are proud to share that our Axis Top Picks basket delivered impressive returns of 25% in the last one year, beating the benchmark Nifty 50 index (6% return over the same period) by a wide margin.The basket, however, declined by 2.5% in Oct’23 on account of the volatile equity market.Nonetheless, it still managed to beat the benchmark Nifty 50 as it de-grew more at 2.8% on an MoM basis. 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 - ‘Growth at a Reasonable Price’ – an Overarching Theme - Nov 2023

Equity Bottom-Up

Mahindra Cie Automotive / Equity Bottom-Up

<ul><li>CIEAUTO posted consolidated revenue of ~Rs 2,279 Cr in Q3CY23 (up 2.2% YoY but down 1.8% QoQ).</li><li>It missed our estimates by 5% due to weaker-than-expected revenue (i) In Europe (up ~6.5%YoY but down ~16% QoQ) led by continued slowdown in the EU and the US market.</li><li>(ii) In India (flat YoY but up ~7% QoQ) on account of slowdown in Tractor/2W segments and underperformance compared to &lt;6ton (PV+LCV) production volumes on a YoY/QoQ basis.</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.

CIEAUTO posted consolidated revenue of ~Rs 2,279 Cr in Q3CY23 (up 2.2% YoY but down 1.8% QoQ).It missed our estimates by 5% due to weaker-than-expected revenue (i) In Europe (up ~6.5%YoY but down ~16% QoQ) led by continued slowdown in the EU and the US market.(ii) In India (flat YoY but up ~7% QoQ) on account of slowdown in Tractor/2W segments and underperformance compared to &lt;6ton (PV+LCV) production volumes on a YoY/QoQ basis.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.

CIE Automotive India Ltd - Buoyant Indian Operations & Gradual Recovery In EU Expected.

<ul><li>Top Sector Ideas: We are proud to share that we released several Top Sector Ideas during the month and we highly encourage you to refer to these exclusive reports; Retail, Pharma, BFSI, FMCG, Metals &amp; Mining, Infra Road, Cement, Auto &amp; Auto Ancillaries, IT Services.</li><li>The reports contain carefully curated companies from each sector that we believe are best placed to deliver excellent performance moving forward.</li><li>Axis Alpha: Axis Alpha reported an astounding monthly strike rate of 75% in Aug’23. </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.

Top Sector Ideas: We are proud to share that we released several Top Sector Ideas during the month and we highly encourage you to refer to these exclusive reports; Retail, Pharma, BFSI, FMCG, Metals &amp; Mining, Infra Road, Cement, Auto &amp; Auto Ancillaries, IT Services.The reports contain carefully curated companies from each sector that we believe are best placed to deliver excellent performance moving forward.Axis Alpha: Axis Alpha reported an astounding monthly strike rate of 75% in Aug’23. 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 Research Scorecard Report - August 2023

<ul><li>European Operations: MCIE’s business from continuing operations in Europe grew by a robust 29% YoY to Rs 3,165 Cr (despite the light vehicle industry (&lt;6Tons) declining by 1.3%YoY and flat growth in MHCV segment in CY22).</li><li>The outperformance was mainly driven by market share gains (40% YoY in CY22) due to the consolidation of the supply chain network.</li><li>Transition to EV: EVs have become mainstream in both Europe and India.</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.

European Operations: MCIE’s business from continuing operations in Europe grew by a robust 29% YoY to Rs 3,165 Cr (despite the light vehicle industry (&lt;6Tons) declining by 1.3%YoY and flat growth in MHCV segment in CY22).The outperformance was mainly driven by market share gains (40% YoY in CY22) due to the consolidation of the supply chain network.Transition to EV: EVs have become mainstream in both Europe and India.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.

CIE Automotive Ltd - Demand-Led Capacity Expansion to Drive Growth

India

Mahindra CIE Automotive Limited designs, manufactures, installs, and repairs automotive components. The Company manufactures automotive components including engine and steering components as well as various other forged metal products.

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Mahindra Cie Automotive (MACA IN)

Axis Top Picks - Dec 2023

We are proud to share that our Axis Top Picks basket delivered impressive returns of 31% in the last one year till 1st Dec’23, beating the...

Axis Direct

Axis Top Picks - ‘Growth at a Reasonable Price’ – an Overarching Theme - Nov 2023

We are proud to share that our Axis Top Picks basket delivered impressive returns of 25% in the last one year, beating the benchmark Nifty 50 index

Axis Direct

CIE Automotive India Ltd - Buoyant Indian Operations & Gradual Recovery In EU Expected.

It missed our estimates by 5% due to weaker-than-expected revenue (i) In Europe (up ~6.5%YoY but down ~16% QoQ) led by continued slowdown in the EU...

Axis Direct

Axis Research Scorecard Report - August 2023

We are proud to share that we released several Top Sector Ideas during the month and we highly encourage you to refer to these exclusive reports

Axis Direct

CIE Automotive Ltd - Demand-Led Capacity Expansion to Drive Growth

The outperformance was mainly driven by market share gains (40% YoY in CY22) due to the consolidation of the supply chain network.

Axis Direct

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