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>On 4 th Jun’24, election results were short of expectation with larger dent seen in Uttar Pradesh and Maharashtra.</li><li>Though NDA has won 292 seats, the Modi 3.0 government will be coalition government and overall market sentiments is likely to shift towards defensive sector like FMCG.</li><li>With huge setback, Modi 3.0 is expected to see some populist measures with some reforms or policy allocation to the bottom of the pyramid to address the rural challenges. </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.

On 4 th Jun’24, election results were short of expectation with larger dent seen in Uttar Pradesh and Maharashtra.Though NDA has won 292 seats, the Modi 3.0 government will be coalition government and overall market sentiments is likely to shift towards defensive sector like FMCG.With huge setback, Modi 3.0 is expected to see some populist measures with some reforms or policy allocation to the bottom of the pyramid to address the rural challenges. 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>The Axis Top Picks Basket delivered an excellent return of 5.4% in the last three months against the 2.5% return posted by Nifty 50, thereby beating the benchmark by a wide margin of 2.9%.</li><li>Over the last one year, the basket has gained 43.2%.</li><li>Moreover, it gives us immense joy to inform you that our Top Picks Basket has delivered an impressive return of 284% since its inception (May’20), which stands well above the 143% return delivered by the NIFTY 50 index over the same period. </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 Axis Top Picks Basket delivered an excellent return of 5.4% in the last three months against the 2.5% return posted by Nifty 50, thereby beating the benchmark by a wide margin of 2.9%.Over the last one year, the basket has gained 43.2%.Moreover, it gives us immense joy to inform you that our Top Picks Basket has delivered an impressive return of 284% since its inception (May’20), which stands well above the 143% return delivered by the NIFTY 50 index over the same period. 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 for the Month of June 2024

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

Equity Bottom-Up

<ul>
<li>VBL has a history of commanding high growth through acquisitions, product portfolio and geographical expansions and operating leverage</li>
<li>Varun is now focusing on interesting geographies and products which will aid its next level of growth</li>
<li>There could be more than bigger success stories like Sting for Varun Beverages if it can repeat history</li>
</ul>


VBL has a history of commanding high growth through acquisitions, product portfolio and geographical expansions and operating leverage
Varun is now focusing on interesting geographies and products which will aid its next level of growth
There could be more than bigger success stories like Sting for Varun Beverages if it can repeat history


What Next for Varun Beverages: The Next Leg of Growth Drivers

<ul><li>The company’s robust all-around performance was led by volume growth of 7.2% YoY to Rs 240.2 Mn cases in Q1CY24, despite the delay in the Holi festive season by 17 days.</li><li>The realization in Q1CY24 grew by 3.5% to Rs 179.7/case, led by an improved product mix in India and a higher contribution of high-margin International markets (grew 22% in Q1CY24).</li><li>The company’s gross margins improved by 385bps YoY to Rs 56.3% due to a decline in PET prices and an improved product mix. </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 company’s robust all-around performance was led by volume growth of 7.2% YoY to Rs 240.2 Mn cases in Q1CY24, despite the delay in the Holi festive season by 17 days.The realization in Q1CY24 grew by 3.5% to Rs 179.7/case, led by an improved product mix in India and a higher contribution of high-margin International markets (grew 22% in Q1CY24).The company’s gross margins improved by 385bps YoY to Rs 56.3% due to a decline in PET prices and an improved product mix. 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.

Varun Beverages Ltd - STRONG VOLUME-LED GROWTH CONTINUES

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>Companies in India have disclosed their shareholding pattern as of end-March in April. There are companies with significant float changes from end-September and/or end-December.</li>
<li>The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in action from passive trackers.</li>
<li>Depending on the date that the shareholding was published, there could be 14 stocks with passive inflows from global trackers while 7 could see passive outflows in May.</li>
</ul>


Companies in India have disclosed their shareholding pattern as of end-March in April. There are companies with significant float changes from end-September and/or end-December.
The changes in free float could be reflected in domestic and global indices over the next few weeks and months resulting in action from passive trackers.
Depending on the date that the shareholding was published, there could be 14 stocks with passive inflows from global trackers while 7 could see passive outflows in May.


India: Potential Free Float Changes & Passive Flows in May

India

Varun Beverages Limited produces and distributes beverages. The Company offers carbonated soft drinks and non-alcoholic beverages, as well as provides packaged drinking water. Varun Beverages serves customers worldwide.

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Varun Beverages (VBL IN)

Top Sector Ideas - FMCG Q4FY24

Though NDA has won 292 seats, the Modi 3.0 government will be coalition government and overall market sentiments is likely to shift towards...

Axis Direct

Axis Top Picks for the Month of June 2024

The Axis Top Picks Basket delivered an excellent return of 5.4% in the last three months against the 2.5% return posted by Nifty 50, thereby...

Axis Direct

What Next for Varun Beverages: The Next Leg of Growth Drivers

Varun Beverage's Next Leg of Growth Drivers can re-write multiple success stories similar to Sting. Here is what will derive Varun Beverage in the...

Sudarshan Bhandari

Varun Beverages Ltd - STRONG VOLUME-LED GROWTH CONTINUES

The company’s robust all-around performance was led by volume growth of 7.2% YoY to Rs 240.2 Mn cases in Q1CY24, despite the delay in the Holi...

Axis Direct

India: Potential Free Float Changes & Passive Flows in May

Changes to shareholding patterns could lead to changes in float for some stocks in local/global indices. Passive trackers will need to trade over 3...

Brian Freitas

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