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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Thematic (Sector/Industry)

<ul><li>Axis New Year Picks: We are proud to announce our exclusive report: Axis New Year Picks 2023 – Focus on 6 Golden Themes.</li><li>The report contains deeply-researched 9 stocks that are best-placed to deliver excellent performance in 2023 and thereby strengthen your investment portfolio.</li><li>Axis Alpha: Axis Alpha reported an excellent monthly strike rate of 78% in Dec’22. It continued to deliver robust returns with absolute profits of over 5.4 Lc since its inception in May’20.</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 New Year Picks: We are proud to announce our exclusive report: Axis New Year Picks 2023 – Focus on 6 Golden Themes.The report contains deeply-researched 9 stocks that are best-placed to deliver excellent performance in 2023 and thereby strengthen your investment portfolio.Axis Alpha: Axis Alpha reported an excellent monthly strike rate of 78% in Dec’22. It continued to deliver robust returns with absolute profits of over 5.4 Lc since its inception in May’20.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.

Equity Bottom-Up

<ul><li>RITES- a Miniratna (Schedule A) CPSE under the Ministry of Railways, is an engineering consultancy company.</li><li>It is a leading multi-disciplinary engineering and consultancy organization specialized in the field of transport infrastructure providing diversified and comprehensive services from concept to commissioning.</li><li>The company is a preferred consultancy organization for Government of India (GoI) including Indian Railways.</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.

RITES- a Miniratna (Schedule A) CPSE under the Ministry of Railways, is an engineering consultancy company.It is a leading multi-disciplinary engineering and consultancy organization specialized in the field of transport infrastructure providing diversified and comprehensive services from concept to commissioning.The company is a preferred consultancy organization for Government of India (GoI) including Indian Railways.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>RITES Ltd.(RITES)reported a decentset of Q2FY23 numbers with revenue of Rs659 Cr (down13% YoY), supported by revenue growth in all segments except exports, EBIDTA of Rs181Cr (down16% YoY, above estimate), and APAT of Rs140Cr (down20%YoY, above estimate).</li><li>The company registered EBITDA Margins of 27.5%in Q2FY23(our estimate: 25.5%) as against 29.6% in Q2FY22.</li><li>There has been anincreasein other income due to increase in exchange variations earnings &amp; dividend from REMC.</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.

RITES Ltd.(RITES)reported a decentset of Q2FY23 numbers with revenue of Rs659 Cr (down13% YoY), supported by revenue growth in all segments except exports, EBIDTA of Rs181Cr (down16% YoY, above estimate), and APAT of Rs140Cr (down20%YoY, above estimate).The company registered EBITDA Margins of 27.5%in Q2FY23(our estimate: 25.5%) as against 29.6% in Q2FY22.There has been anincreasein other income due to increase in exchange variations earnings &amp; dividend from REMC.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.

RITES Ltd. - Result In Line Estimates, Robust Execution On All Fronts; Upgrade to BUY

<ul><li>Axis Top Picks basket reported a resilient performance with an astounding return of 143% since its inception, notably beating an 84% return reported by the benchmark NIFTY 50 Index over the same period.</li><li>A few picks that reported encouraging returns amidst prevailing volatility included APL Apollo Tubes (9.6%), Astral (6.7%), CCL Products (4.7%), and HealthCare Global Enterprises (4.4%)</li><li>PoW delivered an excellent cumulative strike rate of 72% in Sep’22.</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 basket reported a resilient performance with an astounding return of 143% since its inception, notably beating an 84% return reported by the benchmark NIFTY 50 Index over the same period.A few picks that reported encouraging returns amidst prevailing volatility included APL Apollo Tubes (9.6%), Astral (6.7%), CCL Products (4.7%), and HealthCare Global Enterprises (4.4%)PoW delivered an excellent cumulative strike rate of 72% in Sep’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.

<ul><li>For road construction companies under our coverage, we expect revenue growth of 10% YoY, EBITDA to be flattish, and APAT to de-grow by 2% YoY during the quarter.</li><li>Higher costs of a commodity such as steel, cement, aggregates, and diesel are expected to contract companies’ EBITDA margin by 150-200bps YoY.</li><li>In the Road Construction space, Q1and Q2 is normally a soft quarter in terms of project bidding and awarding and awarding activity normally accelerates in Q3 and Q4. </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.

For road construction companies under our coverage, we expect revenue growth of 10% YoY, EBITDA to be flattish, and APAT to de-grow by 2% YoY during the quarter.Higher costs of a commodity such as steel, cement, aggregates, and diesel are expected to contract companies’ EBITDA margin by 150-200bps YoY.In the Road Construction space, Q1and Q2 is normally a soft quarter in terms of project bidding and awarding and awarding activity normally accelerates in Q3 and Q4. 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.

Infra-Road - Robust Order Book, Outlook Positive

India

RITES Limited provides engineering services. The Company offers transport infrastructure consultancy, railway inspection, rolling stock leasing and maintenance, airport construction management, industrial and electrical engineering, and other related services. RITES serves customers worldwide.

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RITES Ltd (RITE IN)

Axis Research Scorecard Report - Dec 22

Axis New Year Picks: We are proud to announce our exclusive report: Axis New Year Picks 2023 – Focus on 6 Golden Themes.

Axis Direct

Pick of the Week - RITES Ltd

RITES- a Miniratna (Schedule A) CPSE under the Ministry of Railways, is an engineering consultancy company. It is a leading multi-disciplinary...

Axis Direct

RITES Ltd. - Result In Line Estimates, Robust Execution On All Fronts; Upgrade to BUY

RITES Ltd.(RITES)reported a decentset of Q2FY23 numbers with revenue of Rs659 Cr (down13% YoY), supported by revenue growth in all segments except...

Axis Direct

Axis Research Scorecard Report - Sep 22

Axis Top Picks basket reported a resilient performance with an astounding return of 143% since its inception, notably beating an 84% return...

Axis Direct

Infra-Road - Robust Order Book, Outlook Positive

For road construction companies under our coverage, we expect revenue growth of 10% YoY, EBITDA to be flattish, and APAT to de-grow by 2% YoY...

Axis Direct

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