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>Positive end-user Industry outlook: With the growth in India’s steel, non-ferrous and cement sectors, RHIM is well-positioned to cater to the demand, being a market leader in refractories (30% market share in India).</li><li>India is the highest growth market for refractories globally, with a 6-8% CAGR forecast. India's refractory market is projected to reach $4.5 Bn by 2030, faster than earlier estimates, driven by material innovations and organic growth.</li><li>The medium-term demand fundamentals remain intact, with domestic steel capacity poised to expand (300 MT target by 2030) and infrastructure-led cement demand expected to recover in FY26 (6-8% YoY growth expected in FY26).</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.

Positive end-user Industry outlook: With the growth in India’s steel, non-ferrous and cement sectors, RHIM is well-positioned to cater to the demand, being a market leader in refractories (30% market share in India).India is the highest growth market for refractories globally, with a 6-8% CAGR forecast. India's refractory market is projected to reach $4.5 Bn by 2030, faster than earlier estimates, driven by material innovations and organic growth.The medium-term demand fundamentals remain intact, with domestic steel capacity poised to expand (300 MT target by 2030) and infrastructure-led cement demand expected to recover in FY26 (6-8% YoY growth expected in FY26).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 Punch: RHI Magnesita India Ltd - 16th June, 2025

Global Materials | Industrials | Commodities

Rahul Jain

<ul>
<li>Margin pressures are likely to ease from Q2FY26 as raw material costs normalize and recent price hikes take effect.</li>
<li>The company is executing a Rs150 Cr capex plan focused on automating DOCL plants and localizing high-margin products.</li>
<li>Integration challenges, cost inflation, and inventory issues that weighed on FY24–25 performance appear largely behind now.</li>
</ul>


Margin pressures are likely to ease from Q2FY26 as raw material costs normalize and recent price hikes take effect.
The company is executing a Rs150 Cr capex plan focused on automating DOCL plants and localizing high-margin products.
Integration challenges, cost inflation, and inventory issues that weighed on FY24–25 performance appear largely behind now.


RHIM (NSE: RHIM) – Margins Easing, Capex Driving Growth, Integration Overhang Fading

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>State Bank of India: SBIN’s Q2FY24 outcomes missed estimates because of lower-than-expected non-interest income and higher opex stemming from wage arrears, partly offset by a provision reversal</li><li>Loan growth moderated (+12.4% YoY) as domestic margins stabilised at 3.45% (-2bps sequentially)</li><li>Gross slippages clocked in at 0.5% annualised, partly offset by healthy recoveries/w-offs, resulting in GNPAs trending further lower (2.6%)</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.

State Bank of India: SBIN’s Q2FY24 outcomes missed estimates because of lower-than-expected non-interest income and higher opex stemming from wage arrears, partly offset by a provision reversalLoan growth moderated (+12.4% YoY) as domestic margins stabilised at 3.45% (-2bps sequentially)Gross slippages clocked in at 0.5% annualised, partly offset by healthy recoveries/w-offs, resulting in GNPAs trending further lower (2.6%)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: State Bank of India, Titan, Gujarat Gas, Relaxo Footwears, Orient Electric

India

RHI Magnesita India Limited operates as a mining company. The Company supplies high-grade refractory products, systems, and solutions including bricks, lining mixes, and flow control products such as slide gates, nozzles, and plugs. RHI Magnesita India serves customers worldwide.

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RHI Magnesita India (RHIM IN)

Axis Punch: RHI Magnesita India Ltd - 16th June, 2025

With the growth in India’s steel, non-ferrous and cement sectors, RHIM is well-positioned to cater to the demand, being a market leader in...

Axis Direct

RHIM (NSE: RHIM) – Margins Easing, Capex Driving Growth, Integration Overhang Fading

Margin pressures easing in Q2FY26 as raw material costs normalize and price hikes take effect. Integration challenges and cost inflation issues...

Rahul Jain

HSIE Results Daily: State Bank of India, Titan, Gujarat Gas, Relaxo Footwears, Orient Electric

SBIN’s Q2FY24 outcomes missed estimates because of lower-than-expected non-interest income and higher opex stemming from wage arrears, partly...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Axis Punch: RHI Magnesita India Ltd - 16th June, 2025

With the growth in India’s steel, non-ferrous and cement sectors, RHIM is well-positioned to cater to the demand, being a market leader in...

Axis Direct

RHIM (NSE: RHIM) – Margins Easing, Capex Driving Growth, Integration Overhang Fading

​Margin pressures easing in Q2FY26 as raw material costs normalize and price hikes take effect. Integration challenges and cost inflation issues...

Rahul Jain

HSIE Results Daily: State Bank of India, Titan, Gujarat Gas, Relaxo Footwears, Orient Electric

SBIN’s Q2FY24 outcomes missed estimates because of lower-than-expected non-interest income and higher opex stemming from wage arrears, partly...

HDFC Securities

Margin pressures easing in Q2FY26 as raw material costs normalize and price hikes take effect. Integration challenges and cost inflation issues...