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. 

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>Export slowdown as Latex Market nosedives (which accounts for 25% of the company's revenues)</li>
<li>Volume degrowth in the tire industry as players reduce inventory levels for the perceived slowdown</li>
<li>New tie-ups with upcoming capacities to support growth in the med</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.


Export slowdown as Latex Market nosedives (which accounts for 25% of the company's revenues)
Volume degrowth in the tire industry as players reduce inventory levels for the perceived slowdown
New tie-ups with upcoming capacities to support growth in the med

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.

NOCIL Ltd - Global Slowdown Shrinks Export Volumes: Revise to HOLD

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.

Thematic (Sector/Industry)

<ul><li>Mahindra &amp; Mahindra: M&amp;M Q3 adjusted PAT at INR 20bn came in above our estimate of INR 18.7bn, primarily due to higher-than-expected other income, even as its operational performance was in line with our estimates</li><li>M&amp;M’s performance highlights for YTDFY23 are: (1) steady market share revival in the UV segment every quarter on the back of its new launches (2) 90bps market share improvement in tractors to 41.4%, without compromising on margins (3) revival in market share in &lt;3.5T segment (4) continued leadership in e-3Ws with 65% market share in Q3</li><li>Also, it is commendable that M&amp;M has already achieved most of the targets it earmarked a couple of years back (including EPS CAGR, improvement in auto margins, RoE at 18%, calibrated asset allocation etc.) and management has indicated that it is now time to raise its targets from here on</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.

Mahindra &amp; Mahindra: M&amp;M Q3 adjusted PAT at INR 20bn came in above our estimate of INR 18.7bn, primarily due to higher-than-expected other income, even as its operational performance was in line with our estimatesM&amp;M’s performance highlights for YTDFY23 are: (1) steady market share revival in the UV segment every quarter on the back of its new launches (2) 90bps market share improvement in tractors to 41.4%, without compromising on margins (3) revival in market share in &lt;3.5T segment (4) continued leadership in e-3Ws with 65% market share in Q3Also, it is commendable that M&amp;M has already achieved most of the targets it earmarked a couple of years back (including EPS CAGR, improvement in auto margins, RoE at 18%, calibrated asset allocation etc.) and management has indicated that it is now time to raise its targets from here onContent 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: Mahindra & Mahindra, Infoedge, City Union Bank, NOCIL

<ul><li>The Indian chemical industry continues to be an attractive hub of opportunities, even in an environment of global uncertainty</li><li>The uniqueness of the chemical industry is that it requires both the creation of tangible assets and technical manpower</li><li>We believe domestic chemical companies have abundant opportunities to partner in technology</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 Indian chemical industry continues to be an attractive hub of opportunities, even in an environment of global uncertaintyThe uniqueness of the chemical industry is that it requires both the creation of tangible assets and technical manpowerWe believe domestic chemical companies have abundant opportunities to partner in technologyContent 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.

Indian Chemical Sector 2.0 - Catalysts for Growth in Place

<ul><li>Tata Motors: TTMT posted weak performance in Q2, both at JLR and in the India business</li><li>While JLR margin lagged expectations, domestic PV and CV margins also declined QoQ due to high input costs</li><li>Despite management’s best efforts, JLR debt has further increased to GBP8.2bn, from GBP7.6bn in Q4</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.

Tata Motors: TTMT posted weak performance in Q2, both at JLR and in the India businessWhile JLR margin lagged expectations, domestic PV and CV margins also declined QoQ due to high input costsDespite management’s best efforts, JLR debt has further increased to GBP8.2bn, from GBP7.6bn in Q4Content 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: Tata Motors, Godrej Properties, Phoenix Mills, APL Apollo,

HSIE Results Daily: Tata Motors, Godrej Properties, Phoenix Mills, APL Apollo

India

NOCIL Ltd. manufactures a wide variety of petrochemicals, agrochemicals, rubber chemicals and their intermediates. The Company's products include azodrin, phosphamidon, high density polyethylene, special grade polypropylene and polymer alloys and blends.  NOCIL also manufactures ethyl vinyl acetate, processed polyethylene, oxygen and nitrogen.

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Nocil Ltd (NOCIL IN)

NOCIL Ltd - Global Slowdown Shrinks Export Volumes: Revise to HOLD

Volume degrowth in the tire industry as players reduce inventory levels for the perceived slowdownNew tie-ups with upcoming capacities to support...

Axis Direct

HSIE Results Daily: Mahindra & Mahindra, Infoedge, City Union Bank, NOCIL

M&M Q3 adjusted PAT at INR 20bn came in above our estimate of INR 18.7bn, primarily due to higher-than-expected other income, even as its...

HDFC Securities

Indian Chemical Sector 2.0 - Catalysts for Growth in Place

The Indian chemical industry continues to be an attractive hub of opportunities, even in an environment of global uncertainty

HDFC Securities

HSIE Results Daily: Tata Motors, Godrej Properties, Phoenix Mills, APL Apollo,

Tata Motors: TTMT posted weak performance in Q2, both at JLR and in the India business. While JLR margin lagged expectations, domestic PV and CV...

HDFC Securities

HSIE Results Daily: Tata Motors, Godrej Properties, Phoenix Mills, APL Apollo

Tata Motors: TTMT posted weak performance in Q2, both at JLR and in the India business. While JLR margin lagged expectations, domestic PV and CV...

HDFC Securities

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