External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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>MCX is expected to report a robust quarter, led by strong growth in futures and options trading, driven by gold and silver</li><li>Options revenue is estimated to rise 70.8% QoQ and futures revenue to expand 99.1% QoQ, taking total revenue to INR 6.46bn in Q3, up 72.6/114.3% QoQ/YoY</li><li>We expect EBITDA/PAT of INR 4.81bn/3.88bn, up +97.6/+96.6% QoQ</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.

MCX is expected to report a robust quarter, led by strong growth in futures and options trading, driven by gold and silverOptions revenue is estimated to rise 70.8% QoQ and futures revenue to expand 99.1% QoQ, taking total revenue to INR 6.46bn in Q3, up 72.6/114.3% QoQ/YoYWe expect EBITDA/PAT of INR 4.81bn/3.88bn, up +97.6/+96.6% QoQContent 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.

Exchanges, Staffing and Internet (Q3FY26E Results Preview): Exchanges strong, staffing weak

<ul><li>MCX is expected to report a flat quarter sequentially (+0.4 QoQ) although it will register 31.2% YoY growth</li><li>The revenue from options is down 2.0% QoQ while futures revenue is up 4.6% QoQ</li><li>We expect MCX to post an EBITDA/PAT of INR 2.43/2.01bn, up +0.4/-1.1% QoQ</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.

MCX is expected to report a flat quarter sequentially (+0.4 QoQ) although it will register 31.2% YoY growthThe revenue from options is down 2.0% QoQ while futures revenue is up 4.6% QoQWe expect MCX to post an EBITDA/PAT of INR 2.43/2.01bn, up +0.4/-1.1% QoQContent 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.

Exchanges, Staffing and Internet: Recovery in sight

<ul><li>MCX: MCX is expected to report revenue growth of +27/57% QoQ/YoY, led by revenue growth in options (+24% QoQ) and futures (+46% QoQ)</li><li>The margin and profitability will improve as there were one-off cost items last quarter which will normalize, and growth will boost margins</li><li>We expect MCX to post an EBITDA/PAT of INR 2.60/1.94bn, up +46/43% QoQ</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.

MCX: MCX is expected to report revenue growth of +27/57% QoQ/YoY, led by revenue growth in options (+24% QoQ) and futures (+46% QoQ)The margin and profitability will improve as there were one-off cost items last quarter which will normalize, and growth will boost marginsWe expect MCX to post an EBITDA/PAT of INR 2.60/1.94bn, up +46/43% QoQContent 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.

Exchanges, Staffing and Internet (Q1FY26E Results Preview): A mixed bag

<ul><li>MCX is expected to report a revenue decline of 1.1% QoQ, led by a drop in options volume by ~6.1%, offset by 10% QoQ increase in futures volume</li><li>We expect SGF to come down by ~50% as MCX has been providing voluntary contribution over the last three quarters</li><li>We expect MCX to post a Revenue/PAT of INR 2.98/1.66bn in Q4, -1.1/+3.8% QoQ.</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.

MCX is expected to report a revenue decline of 1.1% QoQ, led by a drop in options volume by ~6.1%, offset by 10% QoQ increase in futures volumeWe expect SGF to come down by ~50% as MCX has been providing voluntary contribution over the last three quartersWe expect MCX to post a Revenue/PAT of INR 2.98/1.66bn in Q4, -1.1/+3.8% QoQ.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.

Exchanges, Staffing and Internet (Q4FY25E Results Preview): Softness persists

<ul><li>Persistent Systems: Persistent Systems’ (PSYS) Q3 print was exemplary, delivering growth (in-line) and an improving margin profile, though new deal bookings were soft</li><li>PSYS’ programmatic consistency in growth, backed by its software development pedigree, positions it well towards its aspiration of reaching USD 5bn by FY31E</li><li>PSYS remains our preferred pick in the midcap space, combining growth and quality, even as margin improvement remains a work in progress</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.

Persistent Systems: Persistent Systems’ (PSYS) Q3 print was exemplary, delivering growth (in-line) and an improving margin profile, though new deal bookings were softPSYS’ programmatic consistency in growth, backed by its software development pedigree, positions it well towards its aspiration of reaching USD 5bn by FY31EPSYS remains our preferred pick in the midcap space, combining growth and quality, even as margin improvement remains a work in progressContent 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: Persistent Systems, Dalmia Bharat, Zensar Technologies

India

Tanla Platforms is a multinational communications platform as a service (CPaaS) company that offers cloud communication solutions to enterprises globally. The company provides a suite of platforms and services including messaging solutions, voice services, and AI-powered customer engagement tools, with a focus on data security, privacy, and protection against spam and scams. Tanla Platforms was founded in 1999 and is headquartered in Hyderabad, India.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Tanla Platforms (TANLA IN)

Exchanges, Staffing and Internet (Q3FY26E Results Preview): Exchanges strong, staffing weak

Options revenue is estimated to rise 70.8% QoQ and futures revenue to expand 99.1% QoQ, taking total revenue to INR 6.46bn in Q3, up 72.6/114.3%...

HDFC Securities

Exchanges, Staffing and Internet: Recovery in sight

The revenue from options is down 2.0% QoQ while futures revenue is up 4.6% QoQ. We expect MCX to post an EBITDA/PAT of INR 2.43/2.01bn, up +0.4/...

HDFC Securities

Exchanges, Staffing and Internet (Q1FY26E Results Preview): A mixed bag

MCX: MCX is expected to report revenue growth of +27/57% QoQ/YoY, led by revenue growth in options (+24% QoQ) and futures (+46% QoQ)

HDFC Securities

Exchanges, Staffing and Internet (Q4FY25E Results Preview): Softness persists

MCX is expected to report a revenue decline of 1.1% QoQ, led by a drop in options volume by ~6.1%, offset by 10% QoQ increase in futures volume

HDFC Securities

HSIE Results Daily: Persistent Systems, Dalmia Bharat, Zensar Technologies

Persistent Systems: Persistent Systems’ (PSYS) Q3 print was exemplary, delivering growth (in-line) and an improving margin profile, though new deal...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)