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.

Equity Bottom-Up

<ul><li>We met up with the management of Nuvoco Vistas</li><li>The management noted a healthy cement demand trend</li><li>On the cost front, in addition to its ongoing efforts to further squeeze its fuel costs, it expects more savings from WHRS ramp-up, railways sidings, a rising share of AFR, and the resumption of Nimbhol CPP</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 met up with the management of Nuvoco VistasThe management noted a healthy cement demand trendOn the cost front, in addition to its ongoing efforts to further squeeze its fuel costs, it expects more savings from WHRS ramp-up, railways sidings, a rising share of AFR, and the resumption of Nimbhol CPPContent 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.

Nuvoco Vistas Corporation: Focus on Cost and Debt Reduction.

Nuvoco Vistas Corporation -  Focus on Cost and Debt Reduction. Maintain BUY

Thematic (Sector/Industry)

<ul><li>Ambuja Cement: We maintain ADD with an unchanged TP of INR 620/share (16.5x its consolidated FY26E EBITDA)</li><li>During Q4FY24, consolidated volumes rose 17% YoY owing to the low base and ramp-up of recently acquired Sanghi plants</li><li>Weak pricing across markets drove down NSR by INR 394/MT QoQ (-7%)</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.

Ambuja Cement: We maintain ADD with an unchanged TP of INR 620/share (16.5x its consolidated FY26E EBITDA)During Q4FY24, consolidated volumes rose 17% YoY owing to the low base and ramp-up of recently acquired Sanghi plantsWeak pricing across markets drove down NSR by INR 394/MT QoQ (-7%)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: Ambuja Cement, Havells India, Dabur, ACC

<ul><li>Demand firmed up but at the expense of pricing: In our view, cement demand again firmed up in Q4FY24 on a strong pick-up in non-trades sales</li><li>We estimate aggregate volumes will grow 10% YoY in Q4FY24 (as against 8% YoY in Q3)</li><li>However, owing to aggressive volume push in non-trade segments (channel check suggests major players pushed volumes hard in Q4), cement pricing took a beating during the peak demand quarter</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.

Demand firmed up but at the expense of pricing: In our view, cement demand again firmed up in Q4FY24 on a strong pick-up in non-trades salesWe estimate aggregate volumes will grow 10% YoY in Q4FY24 (as against 8% YoY in Q3)However, owing to aggressive volume push in non-trade segments (channel check suggests major players pushed volumes hard in Q4), cement pricing took a beating during the peak demand quarterContent 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.

Cement (Q4FY24 Results Preview): Weak pricing dampens industry margin

Forensics and Corporate Governance Analyst, Beat the Street

Nimish Maheshwari

Forensics and Corporate Governance Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Promoter buying reflects insider confidence in the company's future, often driven by access to undisclosed positive developments and growth opportunities.</li>
<li>Increased promoter stake may indicate that the market has undervalued the company, potentially presenting an opportunity for investors to buy at a discount.</li>
<li>Consider the broader market environment, company fundamentals, and industry trends alongside promoter buying activity to form a comprehensive investment thesis.</li>
</ul>


Promoter buying reflects insider confidence in the company's future, often driven by access to undisclosed positive developments and growth opportunities.
Increased promoter stake may indicate that the market has undervalued the company, potentially presenting an opportunity for investors to buy at a discount.
Consider the broader market environment, company fundamentals, and industry trends alongside promoter buying activity to form a comprehensive investment thesis.


Contrarian Moves: Promoter Buying During Indian Equity Downturns

India

Nuvoco Vistas Corporation Limited provides construction materials. The Company offers cement, ready mix concrete, and aggregates. Nuvoco Vistas serves customers in India.

Nuvoco Vistas (NUVOCO IN)

Nuvoco Vistas Corporation: Focus on Cost and Debt Reduction.

Nuvoco is targeting to reduce net debt to EBITDA to below 2x before taking up major expansions. Existing capacities can support ~7% volume CAGR...

HDFC Securities

Nuvoco Vistas Corporation - Focus on Cost and Debt Reduction. Maintain BUY

On the cost front, in addition to its ongoing efforts to further squeeze its fuel costs, it expects more savings from WHRS ramp-up, railways...

HDFC Securities

HSIE Results Daily: Ambuja Cement, Havells India, Dabur, ACC

During Q4FY24, consolidated volumes rose 17% YoY owing to the low base and ramp-up of recently acquired Sanghi plants. Weak pricing across markets...

HDFC Securities

Cement (Q4FY24 Results Preview): Weak pricing dampens industry margin

Demand firmed up but at the expense of pricing: In our view, cement demand again firmed up in Q4FY24 on a strong pick-up in non-trades sales

HDFC Securities

Contrarian Moves: Promoter Buying During Indian Equity Downturns

There are 100 reasons to sell in the market, but only one reason to buy!! Taking a deep understanding of Promoter Buying in the Indian Landscape in...

Nimish Maheshwari