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>Cement demand to moderate: Cement demand moderation continues in Q2FY25, impacted by seasonality, heavy rainfall, and delays in budgetary allocation of funds for infra-related projects.</li><li>Q1FY25 was affected by factors such as the general election, extreme heat conditions, labour shortages, and unseasonal rain in some regions.</li><li>Historically, moderation in cement demand has been observed during election years. According to provisional numbers released by the Office of the Economic Adviser, cement demand grew by 9% in FY24.</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.

Cement demand to moderate: Cement demand moderation continues in Q2FY25, impacted by seasonality, heavy rainfall, and delays in budgetary allocation of funds for infra-related projects.Q1FY25 was affected by factors such as the general election, extreme heat conditions, labour shortages, and unseasonal rain in some regions.Historically, moderation in cement demand has been observed during election years. According to provisional numbers released by the Office of the Economic Adviser, cement demand grew by 9% in FY24.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>Aims to reach a capacity of 15 mtpa in the next 5 years: In FY24, the company commissioned a 2 mtpa grinding unit in Guwahati, increasing its total grinding capacity to 7.7 mtpa.</li><li>Its 2 mtpa grinding units at Silchar and Jorhat are progressing well and are expected to be commissioned in FY25-26, bringing the total capacity to 11.7 mtpa.</li><li>The company aims to reach a capacity of 15 mtpa over the next five years to sustain its growth momentum and enhance its market share in the North-East market.</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.

Aims to reach a capacity of 15 mtpa in the next 5 years: In FY24, the company commissioned a 2 mtpa grinding unit in Guwahati, increasing its total grinding capacity to 7.7 mtpa.Its 2 mtpa grinding units at Silchar and Jorhat are progressing well and are expected to be commissioned in FY25-26, bringing the total capacity to 11.7 mtpa.The company aims to reach a capacity of 15 mtpa over the next five years to sustain its growth momentum and enhance its market share in the North-East market.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.

Star Cement Ltd - Capacity Expansion to Drive Growth; Outlook Remains Positive

<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

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.

<ul><li>Aurobindo Pharma: EBITDA (+41% YoY) was in line with our/consensus estimates as 10% sales growth (-3% QoQ US, +8% EU, and +53% YoY in growth markets), higher gross margin (+544 bps YoY), was offset by higher staff (+13%) and SG&amp;A (+22% ex-R&amp;D – remediation cost of USD 9 mn and Pen-G plant opex, R&amp;D was -13% YoY)</li><li>ARBP expects (1) steady growth in the US oral solid, led by new launches and volume gain, (2) specialty/injectable to improve QoQ and it targets reach USD 600 mn sales globally in FY25 (~USD 141 mn in Q1FY25), (3) EU sales at Euro 880-900 mn on new launch visibility, (4) EBITDA margin of 21-22% in FY25 (21.4% in Q1) on reduction in remediation spend and Pen-G plant scale-up led leverage, and (5) tax rate at 27-28% in FY25</li><li>Factoring Q1, we have raised our EPS by 3/2% for FY25/26E and revise the TP to INR 1,520 (20x Q1FY27E from 18x)</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.

Aurobindo Pharma: EBITDA (+41% YoY) was in line with our/consensus estimates as 10% sales growth (-3% QoQ US, +8% EU, and +53% YoY in growth markets), higher gross margin (+544 bps YoY), was offset by higher staff (+13%) and SG&amp;A (+22% ex-R&amp;D – remediation cost of USD 9 mn and Pen-G plant opex, R&amp;D was -13% YoY)ARBP expects (1) steady growth in the US oral solid, led by new launches and volume gain, (2) specialty/injectable to improve QoQ and it targets reach USD 600 mn sales globally in FY25 (~USD 141 mn in Q1FY25), (3) EU sales at Euro 880-900 mn on new launch visibility, (4) EBITDA margin of 21-22% in FY25 (21.4% in Q1) on reduction in remediation spend and Pen-G plant scale-up led leverage, and (5) tax rate at 27-28% in FY25Factoring Q1, we have raised our EPS by 3/2% for FY25/26E and revise the TP to INR 1,520 (20x Q1FY27E from 18x)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: Aurobindo Pharma, Berger Paints, Metro Brands

HSIE Results Daily: Aurobindo Pharma, Berger Paints, Metro Brands, Aarti Industries

India

Star Cement Limited manufactures construction materials. The Company produces and markets cement and concrete products. Star Cement serves customers in India.

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Star Cement Ltd (STRCEM IN)

Q2FY25 Earnings Preview - CEMENT

Cement demand to moderate: Cement demand moderation continues in Q2FY25, impacted by seasonality, heavy rainfall, and delays in budgetary...

Axis Direct

Star Cement Ltd - Capacity Expansion to Drive Growth; Outlook Remains Positive

Aims to reach a capacity of 15 mtpa in the next 5 years: In FY24, the company commissioned a 2 mtpa grinding unit in Guwahati, increasing its total...

Axis Direct

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

HSIE Results Daily: Aurobindo Pharma, Berger Paints, Metro Brands

EBITDA (+41% YoY) was in line with our/consensus estimates as 10% sales growth (-3% QoQ US, +8% EU, and +53% YoY in growth markets)

HDFC Securities

HSIE Results Daily: Aurobindo Pharma, Berger Paints, Metro Brands, Aarti Industries

EBITDA (+41% YoY) was in line with our/consensus estimates as 10% sales growth (-3% QoQ US, +8% EU, and +53% YoY in growth markets), higher gross...

HDFC Securities

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