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.

Thematic (Sector/Industry)

<ul><li>Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 41% over the last one year, beating the benchmark Nifty 50 index (31.1% return over the same period) by a wide margin.</li><li>Also, it delivered a return of 2.7% in the last month against the 1.1% returns posted by Nifty 50 over the same period.</li><li>A few picks that reported excellent returns included Lupin (17.2%), TVS Motor Company (11.2%), Aurobindo Pharma (9.4%), HCL Technologies (6.7%) and Bharti Airtel (6.5%). </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.

Axis Top Picks: We are proud to share that our Axis Top Picks basket delivered impressive returns of 41% over the last one year, beating the benchmark Nifty 50 index (31.1% return over the same period) by a wide margin.Also, it delivered a return of 2.7% in the last month against the 1.1% returns posted by Nifty 50 over the same period.A few picks that reported excellent returns included Lupin (17.2%), TVS Motor Company (11.2%), Aurobindo Pharma (9.4%), HCL Technologies (6.7%) and Bharti Airtel (6.5%). 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 for Aug 2024

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>There are 19 changes a side for the NIFTY Midcap 150 Index at the September rebalance. There are many stocks with same-way flows from passive trackers of other indices.</li>
<li>Estimated one-way turnover is 9.8% resulting in a one-way trade of INR 8.2bn (US$98m). With US$40.1bn tracking the index actively, the impact on the stocks will be much larger.</li>
<li>The adds have outperformed the deletes this year, though near-term performance has been meh. There was a similar trend in March and the adds could outperform nearer to implementation.</li>
</ul>


There are 19 changes a side for the NIFTY Midcap 150 Index at the September rebalance. There are many stocks with same-way flows from passive trackers of other indices.
Estimated one-way turnover is 9.8% resulting in a one-way trade of INR 8.2bn (US$98m). With US$40.1bn tracking the index actively, the impact on the stocks will be much larger.
The adds have outperformed the deletes this year, though near-term performance has been meh. There was a similar trend in March and the adds could outperform nearer to implementation.


NIFTY MIDCAP150 Index Rebalance: 19 Changes a Side; Lots of Overlap with Other Index Flow

<ul><li>Banks (incl. SFBs) under our coverage continued to report healthy credit growth at ~15% YoY (ex-HDFCB), marginally lower than our expectation of ~16% YoY (ex-HDFCB).</li><li>This growth was largely led by the retail/SME segment, with a moderation in unsecured segment growth for certain banks.</li><li>The trends in corporate portfolio were divergent, with certain banks pointing out intense competition and unfavorable pricing resulting in them not pursuing growth in the segment, while certain banks witnessed strong demand-led growth.</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.

Banks (incl. SFBs) under our coverage continued to report healthy credit growth at ~15% YoY (ex-HDFCB), marginally lower than our expectation of ~16% YoY (ex-HDFCB).This growth was largely led by the retail/SME segment, with a moderation in unsecured segment growth for certain banks.The trends in corporate portfolio were divergent, with certain banks pointing out intense competition and unfavorable pricing resulting in them not pursuing growth in the segment, while certain banks witnessed strong demand-led growth.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.

Top Sector Ideas: Banking, Financial Services and Insurance (BFSI) Q1FY25

Equity Bottom-Up

Nippon Life India Asset Management / Equity Bottom-Up

<ul><li>Operational Performance – NAM reported a strong QAAUM growth of 54/12% YoY/QoQ and gained market share across all segments.</li><li>On an overall basis, MF QAAUM market share improved by 93bps/24bps YoY/QoQ.</li><li>The share of Equity AUMs continued to improve to 49.8% vs. 49.2% QoQ. Equity AUM market share improved by 62bps YoY and stood at 6.88%. </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.

Operational Performance – NAM reported a strong QAAUM growth of 54/12% YoY/QoQ and gained market share across all segments.On an overall basis, MF QAAUM market share improved by 93bps/24bps YoY/QoQ.The share of Equity AUMs continued to improve to 49.8% vs. 49.2% QoQ. Equity AUM market share improved by 62bps YoY and stood at 6.88%. 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.

Nippon Life India AMC Ltd - Market Share Gains Across Segments, Outlook Healthy

<ul><li>As of 14th Jun’24, the systemic credit growth continues to remain near a multi-year high, registering a robust growth of ~19% YoY (~15.5% YoY ex-HDFC).</li><li>The retail and SME segments have been the major drivers of this growth, as corporate lending continues to remain sluggish.</li><li>However, it is witnessing a gradual recovery. Mirroring the systemic credit growth trends, we expect banks under our coverage (incl. SFBs) to register an equally strong credit growth of ~18/3% YoY/QoQ (ex-HDFC). Post a strong show on deposits in the previous quarter (Q4FY24), the pace of deposit accretion at a systemic level has decelerated. </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.

As of 14th Jun’24, the systemic credit growth continues to remain near a multi-year high, registering a robust growth of ~19% YoY (~15.5% YoY ex-HDFC).The retail and SME segments have been the major drivers of this growth, as corporate lending continues to remain sluggish.However, it is witnessing a gradual recovery. Mirroring the systemic credit growth trends, we expect banks under our coverage (incl. SFBs) to register an equally strong credit growth of ~18/3% YoY/QoQ (ex-HDFC). Post a strong show on deposits in the previous quarter (Q4FY24), the pace of deposit accretion at a systemic level has decelerated. 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.

Q1FY25 Earnings Preview - Banking, Financial Services and Insurance (BFSI)

India

Nippon Life India Asset Management Limited operates as an investment management firm. The Company offers portfolio management, financial planning, mutual fund investment, and advisory services to individuals, institutions, trusts, and private funds. Nippon Life India Asset Management serves customers in India.

Nippon Life India Asset Management (NAM IN)

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Nippon Life India Asset Management (NAM IN)

Axis Research Scorecard Report for Aug 2024

A few picks that reported excellent returns included Lupin (17.2%), TVS Motor Company (11.2%), Aurobindo Pharma (9.4%), HCL Technologies (6.7%) and...

Axis Direct

NIFTY MIDCAP150 Index Rebalance: 19 Changes a Side; Lots of Overlap with Other Index Flow

There are 19 changes for the index in Sep. Estimated one-way turnover is 9.8% resulting in a one-way trade of INR 8.2bn (US$98m). There are many...

Brian Freitas

Top Sector Ideas: Banking, Financial Services and Insurance (BFSI) Q1FY25

Banks (incl. SFBs) under our coverage continued to report healthy credit growth at ~15% YoY (ex-HDFCB), marginally lower than our expectation of...

Axis Direct

Q1FY25 Earnings Preview - Banking, Financial Services and Insurance (BFSI)

As of 14th Jun’24, the systemic credit growth continues to remain near a multi-year high, registering a robust growth of ~19% YoY (~15.5% YoY ex...

Axis Direct

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