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>Praj Industries Ltd (Praj) bookednew orders worth 981 Cr in Q2FY23, out of which Bio-Energy constituted 85% as domestic demand continues to drive growth.</li><li>The company expects the export market to pick up in H2FY23. The Engineering business is also poised to drive growth as clean energy adoption gains traction.</li><li>Moreover, the company foresees positive development from the UP government in developing ground for the CBG business environment which will aid the next leg of growth alongwith 2G and Bio-Mobility business. </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>

Praj Industries Ltd (Praj) bookednew orders worth 981 Cr in Q2FY23, out of which Bio-Energy constituted 85% as domestic demand continues to drive growth.The company expects the export market to pick up in H2FY23. The Engineering business is also poised to drive growth as clean energy adoption gains traction.Moreover, the company foresees positive development from the UP government in developing ground for the CBG business environment which will aid the next leg of growth alongwith 2G and Bio-Mobility business. 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.

Praj Industries Ltd - Steady Quarter with Execution Improvement; Maintain BUY

Thematic (Sector/Industry)

<ul><li>Covid-19 Update: Moderation seen in the caseload across the world – The rise in Covid-19 cases across the world moderated in Sep’22 vis-à-vis previous months, providing much-needed relief from the anticipated COVID 4.0.</li><li>The large-scale vaccination drive undertaken by the Government of India picked up further pace in Sep’22 and crossed a remarkable milestone of 218 Cr (as of 28th Sep’22).</li><li>Average daily doses have moderated to 18.3 Lc/day in Sep’22 from 57 Lc/day in Nov’21 as COVID 3.0 retreated and the majority of the population is already vaccinated.</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>

Covid-19 Update: Moderation seen in the caseload across the world – The rise in Covid-19 cases across the world moderated in Sep’22 vis-à-vis previous months, providing much-needed relief from the anticipated COVID 4.0.The large-scale vaccination drive undertaken by the Government of India picked up further pace in Sep’22 and crossed a remarkable milestone of 218 Cr (as of 28th Sep’22).Average daily doses have moderated to 18.3 Lc/day in Sep’22 from 57 Lc/day in Nov’21 as COVID 3.0 retreated and the majority of the population is already vaccinated.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 Multi-Asset Strategy - Stay Focused on Asset Allocation

<ul><li>Axis Top Picks basket delivered flattish returns (+0.2%) in a highly volatile Sep’22 which reported a rather mixed performance across sectors and style indices.</li><li>While the NIFTY 50 index declined by over 4% during the month, our Top Picks basket outperformed the index by a superior margin, showcasing its resilience one more time.</li><li>Moreover, since its inception in May'20, Our Top Picks basket has delivered an impressive return of 143%, which stands significantly higher than the 84% return reported by NIFTY 50 over the same period.</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>

Axis Top Picks basket delivered flattish returns (+0.2%) in a highly volatile Sep’22 which reported a rather mixed performance across sectors and style indices.While the NIFTY 50 index declined by over 4% during the month, our Top Picks basket outperformed the index by a superior margin, showcasing its resilience one more time.Moreover, since its inception in May'20, Our Top Picks basket has delivered an impressive return of 143%, which stands significantly higher than the 84% return reported 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.

Axis Top Picks - Oct 2022 - Earnings Commentary & Festival Demand to Drive the Market

<div><ul><li>Strong Demand for Domestic Grain: During Q1FY23, 70% of the new orderbook was for Grain-based capacity (starchy feedstock), continuing momentum in Grain-based distilleries.</li><li><p>Key Business Updates: India has achieved the highest-ever Ethanol blend of ~10% in 2022, 5 months ahead of the target.</p></li><li><p><span style="font-size: var(--content-font-size);">CBG Update: The government hiked the price of CBG to Rs 54 from Rs 46 QoQ and has indexed it to the price of CNG.</span></p></li></ul></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>

Strong Demand for Domestic Grain: During Q1FY23, 70% of the new orderbook was for Grain-based capacity (starchy feedstock), continuing momentum in Grain-based distilleries.Key Business Updates: India has achieved the highest-ever Ethanol blend of ~10% in 2022, 5 months ahead of the target.CBG Update: The government hiked the price of CBG to Rs 54 from Rs 46 QoQ and has indexed it to the price of CNG.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.

Praj Industries Ltd - Steady Order Book Growth Aided by Strong Execution

<div><div><div><div><ul><li>Strong Demand for Domestic Grain: During Q4FY22,66% of the new orderbook was for Grain-based capacity(starchy feedstock), indicating momentum in Grain-based distilleries.</li><li>Key Business Updates: India has achieved the highest-ever Ethanol blend of ~10% in 2022.</li><li>Strong Execution: The company is witnessing more growth in Grain-based distilleries which has reduced the seasonality of the business which was predominantly based on the sugar cycle.</li></ul><ul style="list-style-type: none;"><li> </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></div></div></div></div>

Strong Demand for Domestic Grain: During Q4FY22,66% of the new orderbook was for Grain-based capacity(starchy feedstock), indicating momentum in Grain-based distilleries.Key Business Updates: India has achieved the highest-ever Ethanol blend of ~10% in 2022.Strong Execution: The company is witnessing more growth in Grain-based distilleries which has reduced the seasonality of the business which was predominantly based on the sugar cycle. 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.

Praj Industries Ltd - Growth Engines Fired, Aided by Strong Execution

India

Praj Industries Limited is an engineering firm that provides solutions for distillery and brewery wastewater treatment and utilization. The Company's fermentation systems include technology packages for multiple feedstock including cane molasses, cane juice and filtrate, starch based raw material like corn, sorghum, wheat, tapioca and tropical sugarbeet.

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Praj Industries (PRJ IN)

Praj Industries Ltd - Steady Quarter with Execution Improvement; Maintain BUY

Praj Industries Ltd (Praj) bookednew orders worth 981 Cr in Q2FY23, out of which Bio-Energy constituted 85% as domestic demand continues to drive...

Axis Direct

Axis Multi-Asset Strategy - Stay Focused on Asset Allocation

The rise in Covid-19 cases across the world moderated in Sep’22 vis-à-vis previous months, providing much-needed relief from the anticipated COVID...

Axis Direct

Axis Top Picks - Oct 2022 - Earnings Commentary & Festival Demand to Drive the Market

Axis Top Picks basket delivered flattish returns (+0.2%) in a highly volatile Sep’22 which reported a rather mixed performance across sectors and...

Axis Direct

Praj Industries Ltd - Steady Order Book Growth Aided by Strong Execution

Praj Industries Ltd (Praj) reported new orders of 1,094 Cr against our expectation of 937 Cr. Grain-based continues to witness strong demand...

Axis Direct

Praj Industries Ltd - Growth Engines Fired, Aided by Strong Execution

Praj Industries Ltd (Praj) reported a robust set of numbers beating our as well as street expectations all fronts.The company’s orderbook came in...

Axis Direct

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