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>Market Performance-September Correction: A Confluence of Global and Domestic Headwinds: Indian equities enter October after a sharp September correction, with the market increasingly caught between resilient domestic economic fundamentals and a deteriorating global macro backdrop.</li><li>The immediate triggers for the correction have been the renewed escalation in West Asia, a sharp rise in crude oil prices, elevated US bond yields, rupee depreciation, and sustained foreign portfolio outflows. At the same time, India's domestic growth indicators remain relatively robust, with Q1FY27 real GDP growth at 7.8%, August industrial production growth at 8.0%, and bank credit growth remaining strong.</li><li>In September, the Nifty 50 declined 6.06%, the Nifty Midcap 100 fell 7.06%, Nifty Smallcap 250 declined by 3.1%, while Nifty 500 dropped 5.9%.</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.

Market Performance-September Correction: A Confluence of Global and Domestic Headwinds: Indian equities enter October after a sharp September correction, with the market increasingly caught between resilient domestic economic fundamentals and a deteriorating global macro backdrop.The immediate triggers for the correction have been the renewed escalation in West Asia, a sharp rise in crude oil prices, elevated US bond yields, rupee depreciation, and sustained foreign portfolio outflows. At the same time, India's domestic growth indicators remain relatively robust, with Q1FY27 real GDP growth at 7.8%, August industrial production growth at 8.0%, and bank credit growth remaining strong.In September, the Nifty 50 declined 6.06%, the Nifty Midcap 100 fell 7.06%, Nifty Smallcap 250 declined by 3.1%, while Nifty 500 dropped 5.9%.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 2026

Equity Bottom-Up

<ul><li>Strong Volume-led Performance: Nestlé India reported robust revenue growth of 25.4% YoY, driven by double-digit volume expansion.</li><li>Growth was led by strong momentum across confectionery, beverages, prepared dishes, pet food, and the Milk and Nutrition portfolio.</li><li>MAGGI noodles continued to witness strong traction, supported by deeper market penetration. </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.

Strong Volume-led Performance: Nestlé India reported robust revenue growth of 25.4% YoY, driven by double-digit volume expansion.Growth was led by strong momentum across confectionery, beverages, prepared dishes, pet food, and the Milk and Nutrition portfolio.MAGGI noodles continued to witness strong traction, supported by deeper market penetration. 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.

Nestle India Ltd - Beat On All Fronts; Maintain BUY

<ul><li>Market Performance - Broader Market Continues to Outperform:</li><li>Indian equities entered Sep’26 with a fundamentally stronger earnings backdrop but a less supportive global liquidity and valuation environment.</li><li>Corporate earnings for Q1FY27 have been among the strongest witnessed in the last ten quarters, yet benchmark indices have struggled to sustain momentum and have experienced corrections from recent highs.</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.

Market Performance - Broader Market Continues to Outperform:Indian equities entered Sep’26 with a fundamentally stronger earnings backdrop but a less supportive global liquidity and valuation environment.Corporate earnings for Q1FY27 have been among the strongest witnessed in the last ten quarters, yet benchmark indices have struggled to sustain momentum and have experienced corrections from recent highs.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 2026

<ul><li>Nestlé reported an 18.5% YoY growth in revenue, supported by its strongest volume expansion in nearly five years.</li><li>Performance was driven by double-digit growth in confectionery and MAGGI noodles, along with robust growth in beverages and prepared dishes, while the Milk &amp; Nutrition portfolio delivered mid-single-digit growth.</li><li>Management attributed the strong quarter to capacity additions, sustained brand investments, market recovery, and benefits from GST-related changes. </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.

Nestlé reported an 18.5% YoY growth in revenue, supported by its strongest volume expansion in nearly five years.Performance was driven by double-digit growth in confectionery and MAGGI noodles, along with robust growth in beverages and prepared dishes, while the Milk &amp; Nutrition portfolio delivered mid-single-digit growth.Management attributed the strong quarter to capacity additions, sustained brand investments, market recovery, and benefits from GST-related changes. 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.

Nestle India Ltd - Steller Topline Growth; Margins Under Pressure

<ul><li>Growth stays strong, margins diverge: The FMCG sector witnessed a healthy start to FY27, with most companies delivering high-single to doubledigit topline growth, supported by resilient consumption and calibrated pricing.</li><li>The recovery remained broad-based, aided by the GST rate cut, improving consumer sentiment, premiumisation and deeper distribution.</li><li>A second consecutive quarter of sequential improvement indicates that the demand environment is gradually strengthening. </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.

Growth stays strong, margins diverge: The FMCG sector witnessed a healthy start to FY27, with most companies delivering high-single to doubledigit topline growth, supported by resilient consumption and calibrated pricing.The recovery remained broad-based, aided by the GST rate cut, improving consumer sentiment, premiumisation and deeper distribution.A second consecutive quarter of sequential improvement indicates that the demand environment is gradually strengthening. 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

Nestle India Limited is the Indian subsidiary of the Swiss multinational company Nestlé, operating as a prominent player in India's Fast-Moving Consumer Goods (FMCG) industry. The company manufactures and sells a diverse range of food products, beverages, chocolates, and confectioneries, with key brands including Maggi, Nescafé, and KitKat. Nestle India Limited was incorporated on March 28, 1959, and is headquartered in Gurugram, Haryana, India.

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Nestle India (NEST IN)

Axis Top Picks for the month of October 2026

In September, the Nifty 50 declined 6.06%, the Nifty Midcap 100 fell 7.06%, Nifty Smallcap 250 declined by 3.1%, while Nifty 500 dropped 5.9%.

Axis Direct

Nestle India Ltd - Beat On All Fronts; Maintain BUY

Nestlé India reported robust revenue growth of 25.4% YoY, driven by double-digit volume expansion. Growth was led by strong momentum across...

Axis Direct

Axis Top Picks for the month of September 2026

Indian equities entered Sep’26 with a fundamentally stronger earnings backdrop but a less supportive global liquidity and valuation environment.

Axis Direct

Nestle India Ltd - Steller Topline Growth; Margins Under Pressure

Nestlé reported an 18.5% YoY growth in revenue, supported by its strongest volume expansion in nearly five years. Performance was driven by double...

Axis Direct

High Conviction Ideas:FMCG

The FMCG sector witnessed a healthy start to FY27, with most companies delivering high-single to doubledigit topline growth, supported by resilient...

Axis Direct

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