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>The companies under our coverage reported Revenue/EBITDA/PAT growth of 4.7%/4%/2.2% YoY, below expectations of 5.5%/8.9%/10.6%.</li><li>This lacklustre performance was due to weakness in passenger vehicles (while SUVs continue to grow) and Commercial vehicles.</li><li>The pressure on margins was majorly due to lower operational inefficiencies, higher discounting and lower domestic wholesale sales volumes. </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.

The companies under our coverage reported Revenue/EBITDA/PAT growth of 4.7%/4%/2.2% YoY, below expectations of 5.5%/8.9%/10.6%.This lacklustre performance was due to weakness in passenger vehicles (while SUVs continue to grow) and Commercial vehicles.The pressure on margins was majorly due to lower operational inefficiencies, higher discounting and lower domestic wholesale sales volumes. 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 Conviction Ideas – “Auto and Auto Ancillaries”

Equity Bottom-Up

<ul><li>Operational Highlights in Q2FY25: (1) Expanded into ASEAN markets through PTMA for the manufacturing of long tail lamps for PVs.</li><li>(2) TRMN and TG Minda's Neemrana plant commenced operations for producing seat belts and smart keys.</li><li>(3) Minda Onkyo signed a TLA with Mobis for the manufacturing of speakers in India. </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 Highlights in Q2FY25: (1) Expanded into ASEAN markets through PTMA for the manufacturing of long tail lamps for PVs.(2) TRMN and TG Minda's Neemrana plant commenced operations for producing seat belts and smart keys.(3) Minda Onkyo signed a TLA with Mobis for the manufacturing of speakers in India. 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.

Uno Minda - Robust EBITDA Margins in Q2FY25

<ul><li>Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.</li><li>Notably, our benchmark index, the Nifty 50, reached the historic milestone of 26,216 on September 26, 2024, for the first time ever.</li><li>This achievement has propelled the Indian market capitalization to surpass the $5 Trillion mark, positioning it as the fourth largest market globally. </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.

Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.Notably, our benchmark index, the Nifty 50, reached the historic milestone of 26,216 on September 26, 2024, for the first time ever.This achievement has propelled the Indian market capitalization to surpass the $5 Trillion mark, positioning it as the fourth largest market globally. 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.

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>HDFC Bank is set to close a loan sale worth over $1 billion by September 2024</li>
<li>Reliance Consumer Products Ltd. (RCPL) plans a nationwide FMCG expansion, extending its in-house brands</li>
<li>SJVN generated 8,489 million units of green energy in FY24, despite hydrological challenges</li>
</ul>


HDFC Bank is set to close a loan sale worth over $1 billion by September 2024
Reliance Consumer Products Ltd. (RCPL) plans a nationwide FMCG expansion, extending its in-house brands
SJVN generated 8,489 million units of green energy in FY24, despite hydrological challenges


# 61 India Insight: HDFC Loan Sale over $1bn, Reliance FMCG Expansion, SJVN Generated 8.4 GW

<ul><li>Outperformance across all verticals: Uno Minda is likely to witness outperformance across all segments predominantly led by the Lightning, Switches, Casting and Other divisions (sensors, motors-controllers), which grew 26%/25%/26%/16% YoY respectively in Q4FY24.</li><li>It is focused on achieving and maintaining an ROCE of 20+% in the long run.</li><li>EV capabilities: The peak annual order value from OEMs stood at Rs 3,755 Cr, of which Rs 1,918 Cr is for EV-specific components.</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.

Outperformance across all verticals: Uno Minda is likely to witness outperformance across all segments predominantly led by the Lightning, Switches, Casting and Other divisions (sensors, motors-controllers), which grew 26%/25%/26%/16% YoY respectively in Q4FY24.It is focused on achieving and maintaining an ROCE of 20+% in the long run.EV capabilities: The peak annual order value from OEMs stood at Rs 3,755 Cr, of which Rs 1,918 Cr is for EV-specific components.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.

Uno Minda - Q4 Results Beats Estimates; Outperformance Likely To Continue

India

UNO Minda Limited designs, develops, and manufactures sales diverse auto components. The Company offers alternate fuel and air filtration systems, canisters, brake and fuel hoses, noise suppressor caps, alloy wheels, seat belts, air brakes, air ducts and washer bottle, and body sealing products. UNO Minda serves customers worldwide.

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UNO Minda (UNOMINDA IN)

Top Conviction Ideas – “Auto and Auto Ancillaries”

The companies under our coverage reported Revenue/EBITDA/PAT growth of 4.7%/4%/2.2% YoY, below expectations of 5.5%/8.9%/10.6%.

Axis Direct

Uno Minda - Robust EBITDA Margins in Q2FY25

Operational Highlights in Q2FY25: (1) Expanded into ASEAN markets through PTMA for the manufacturing of long tail lamps for PVs.

Axis Direct

Diamonds In The Dust - Samvat 2081

Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.

Axis Direct

# 61 India Insight: HDFC Loan Sale over $1bn, Reliance FMCG Expansion, SJVN Generated 8.4 GW

HDFC Bank to close $1 billion loan sale, RCPL expanding FMCG nationwide, SJVN generates 8,489 million units of green energy despite challenges.

Sudarshan Bhandari

Uno Minda - Q4 Results Beats Estimates; Outperformance Likely To Continue

EV capabilities: The peak annual order value from OEMs stood at Rs 3,755 Cr, of which Rs 1,918 Cr is for EV-specific components.

Axis Direct

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52-week Range

Market Cap (USDm)

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Dividend (Yield)

Top Conviction Ideas – “Auto and Auto Ancillaries”

The companies under our coverage reported Revenue/EBITDA/PAT growth of 4.7%/4%/2.2% YoY, below expectations of 5.5%/8.9%/10.6%.

Axis Direct

Uno Minda - Robust EBITDA Margins in Q2FY25

Operational Highlights in Q2FY25: (1) Expanded into ASEAN markets through PTMA for the manufacturing of long tail lamps for PVs.

Axis Direct

Diamonds In The Dust - Samvat 2081

Samvat 2080 has proven to be a remarkable period for the Indian equity market, marked by the continuous achievement of new milestones each quarter.

Axis Direct

# 61 India Insight: HDFC Loan Sale over $1bn, Reliance FMCG Expansion, SJVN Generated 8.4 GW

​HDFC Bank to close $1 billion loan sale, RCPL expanding FMCG nationwide, SJVN generates 8,489 million units of green energy despite challenges.

Sudarshan Bhandari

Uno Minda - Q4 Results Beats Estimates; Outperformance Likely To Continue

EV capabilities: The peak annual order value from OEMs stood at Rs 3,755 Cr, of which Rs 1,918 Cr is for EV-specific components.

Axis Direct

HDFC Bank to close $1 billion loan sale, RCPL expanding FMCG nationwide, SJVN generates 8,489 million units of green energy despite challenges.