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><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

<ul>
<li>Axis Top Picks basket has delivered an astounding return of 127% since its inception, notably beating the 89% return reported by the benchmark Nifty 50 Index over the same period</li>
<li>Pick of the Week (PoW): PoW delivered an excellent monthly strike rate of 77% in Mar’22</li>
<li>Axis Alpha: Axis Alpha continues to deliver robust returns with absolute profits of over 4.2 Lc since its inception. It reported a healthy cumulative strike rate of 68% in Mar’22.</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 has delivered an astounding return of 127% since its inception, notably beating the 89% return reported by the benchmark Nifty 50 Index over the same period
Pick of the Week (PoW): PoW delivered an excellent monthly strike rate of 77% in Mar’22
Axis Alpha: Axis Alpha continues to deliver robust returns with absolute profits of over 4.2 Lc since its inception. It reported a healthy cumulative strike rate of 68% in Mar’22.

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 - Mar 2022

<ul>
<li>Commodities and IT sectors are the biggest winners of FY22. In the last one year, the Metals sector has gone up 53%, Energy by 40%, commodities by 30%, and the IT index by 40%</li>
<li>However, the consumer-facing sectors closed FY22 on a muted note with FMCG reporting growth of only 4% and the Auto sector of 5%</li>
<li>The current market performance is factoring in the current rising inflation and the rising interest rate regime</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>


Commodities and IT sectors are the biggest winners of FY22. In the last one year, the Metals sector has gone up 53%, Energy by 40%, commodities by 30%, and the IT index by 40%
However, the consumer-facing sectors closed FY22 on a muted note with FMCG reporting growth of only 4% and the Auto sector of 5%
The current market performance is factoring in the current rising inflation and the rising interest rate regime

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>Praj Industries posted a robust set of numbers for the quarter with the company’s performance inline with our expectations</li><li>Company’s Bio Energy orderbook grew by 6% q-o-q &amp; 146% y-o-y on account of strong demand for grain based distelleries</li><li>We maintain our BUY with a revised target price of Rs 477 (from Rs 472 earlier) valuing the company at 39x (~30% discount to TTM PE of 55x) FY23 EPS, implying an upside of 19% from the CMP 400.</li></ul><div class="content-highlight"><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></div>

Praj Industries posted a robust set of numbers for the quarter with the company’s performance inline with our expectationsCompany’s Bio Energy orderbook grew by 6% q-o-q &amp; 146% y-o-y on account of strong demand for grain based distelleriesWe maintain our BUY with a revised target price of Rs 477 (from Rs 472 earlier) valuing the company at 39x (~30% discount to TTM PE of 55x) FY23 EPS, implying an upside of 19% from the CMP 400.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: Continued Traction in New Order Book Growth & 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 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

Axis Research Scorecard Report - Mar 2022

Axis Top Picks basket has delivered an astounding return of 127% since its inception, notably beating the 89% return reported by the benchmark...

Axis Direct

Axis Top Picks April 2022

Commodities and IT sectors are the biggest winners of FY22. In the last one year, the Metals sector has gone up 53%, Energy by 40%, commodities by...

Axis Direct

Praj Industries: Continued Traction in New Order Book Growth & Execution

We maintain our BUY with a revised target price of Rs 477 (from Rs 472 earlier) valuing the company at 39x (~30% discount to TTM PE of 55x) FY23...

Axis Direct

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