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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Equity Bottom-Up

<ul><li>Sequential Recovery Supported by Margin Improvement: Welspun Living reported consolidated revenue of Rs 2,435 Cr in Q4FY26, reflecting sequential recovery despite continued softness in global retail demand.</li><li>EBITDA stood at Rs 249 Cr, with margin improving to 10.2%, supported by cost optimisation and operational efficiencies, while PAT came in at Rs 106 Cr.</li><li>Strong free cash flow generation, meaningful reduction in net debt and improving domestic business trends indicate easing operational pressures. </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.

Sequential Recovery Supported by Margin Improvement: Welspun Living reported consolidated revenue of Rs 2,435 Cr in Q4FY26, reflecting sequential recovery despite continued softness in global retail demand.EBITDA stood at Rs 249 Cr, with margin improving to 10.2%, supported by cost optimisation and operational efficiencies, while PAT came in at Rs 106 Cr.Strong free cash flow generation, meaningful reduction in net debt and improving domestic business trends indicate easing operational pressures. 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.

Welspun Living Ltd - Sequential Recovery Gains Traction

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

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

Thematic (Sector/Industry)

<ul>
<li>On January 27, 2026, India signed a landmark FTA with the EU to dismantle long-standing tariff walls and achieve structural parity with global competitors.</li>
<li>This "Mother of All Deals" triggers massive volume growth and margin expansion for Indian textiles, auto components, and specialty chemicals by eliminating existing duty disadvantages.</li>
<li>Indian exporters must navigate stringent non-tariff barriers and carbon taxes within the critical 12–24 month implementation window to ensure compliance with strict EU standards.</li>
</ul>


On January 27, 2026, India signed a landmark FTA with the EU to dismantle long-standing tariff walls and achieve structural parity with global competitors.
This "Mother of All Deals" triggers massive volume growth and margin expansion for Indian textiles, auto components, and specialty chemicals by eliminating existing duty disadvantages.
Indian exporters must navigate stringent non-tariff barriers and carbon taxes within the critical 12–24 month implementation window to ensure compliance with strict EU standards.


The "Mother of All Deals": India-EU FTA as a Structural Alpha Trigger

Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

PNB Housing Finance Ltd / Equity Bottom-Up

<ul>
<li>Since inception on February 27, our equal-weighted Indian Mid-Cap basket has appreciated 29.4%, sharply outperforming the BSE Mid-Cap Index (18.6%). We revisit our basket and apply the relevant screens again. </li>
<li>We screen on minimum 10% EPS CAGR over next two years, maximum PEG of 1.3x, consensus rating of buy/overweight and upward revision in consensus EPS estimate over past 6 months.</li>
<li>14 stocks come up in our new India Mid-Caps basket - fewer than the 20 that we had earlier. Four stocks are common with the previous basket.</li>
</ul>


Since inception on February 27, our equal-weighted Indian Mid-Cap basket has appreciated 29.4%, sharply outperforming the BSE Mid-Cap Index (18.6%). We revisit our basket and apply the relevant screens again. 
We screen on minimum 10% EPS CAGR over next two years, maximum PEG of 1.3x, consensus rating of buy/overweight and upward revision in consensus EPS estimate over past 6 months.
14 stocks come up in our new India Mid-Caps basket - fewer than the 20 that we had earlier. Four stocks are common with the previous basket.


Asian Equities: Revisiting Indian Mid-Caps After Sharp Outperformance – A New Quant Screen

<ul><li>Quarter Impacted by Tariff-Related Disruptions: As highlighted earlier, the 50% tariff on Indian exports to the US continued to weigh on performance during the quarter.</li><li>The company expects these tariff-related headwinds to persist in the near term but remains optimistic about regaining growth momentum once the trade environment normalizes. </li><li>Focus on Retaining Customers: Management indicated that it continues to collaborate with US customers to share the tariff burden. </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.

Quarter Impacted by Tariff-Related Disruptions: As highlighted earlier, the 50% tariff on Indian exports to the US continued to weigh on performance during the quarter.The company expects these tariff-related headwinds to persist in the near term but remains optimistic about regaining growth momentum once the trade environment normalizes. Focus on Retaining Customers: Management indicated that it continues to collaborate with US customers to share the tariff burden. 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.

Welspun Living Ltd - Maintaining Market Share Amidst Sectoral Headwinds; Retain BUY Rating

<ul><li>Tariff Related Uncertainties: The company reported an 11% YoY decline in revenue to Rs 2,261 Cr in Q1FY26, with a decline in the Home Textile segment as well as the Flooring business.</li><li>The subdued performance was primarily attributed to global trade uncertainties and ongoing tariff-related pressures.</li><li>However, domestic operations remained resilient, with the Welspun brand continuing to gain traction in the retail 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.

Tariff Related Uncertainties: The company reported an 11% YoY decline in revenue to Rs 2,261 Cr in Q1FY26, with a decline in the Home Textile segment as well as the Flooring business.The subdued performance was primarily attributed to global trade uncertainties and ongoing tariff-related pressures.However, domestic operations remained resilient, with the Welspun brand continuing to gain traction in the retail 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.

Welspun Living Ltd - Near-Term Headwinds Create a Long-Term Opportunity

India

Welspun Living Limited is a home textile manufacturer with a global distribution network. The Company engages in home textiles, flooring solutions, advanced textiles, DI pipes, pig iron, TMT bars, stainless steel, alloy, line pipes, infrastructure, and warehousing. Welspun Living serves customers worldwide.

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Welspun Living (WELSPUNL IN)

Welspun Living Ltd - Sequential Recovery Gains Traction

Welspun Living reported consolidated revenue of Rs 2,435 Cr in Q4FY26, reflecting sequential recovery despite continued softness in global retail...

Axis Direct

The "Mother of All Deals": India-EU FTA as a Structural Alpha Trigger

India signs game-changing FTA with EU, boosting key industries like textiles and auto components while facing challenges of non-tariff barriers...

Nimish Maheshwari

Asian Equities: Revisiting Indian Mid-Caps After Sharp Outperformance – A New Quant Screen

Our Indian Mid-Cap basket (up 29.4% since Feb 27 inception) beat the BSE Mid-Cap Index (up 18.6%) sharply. We revisit the basket with the earlier...

Manishi Raychaudhuri

Welspun Living Ltd - Near-Term Headwinds Create a Long-Term Opportunity

Tariff Related Uncertainties: The company reported an 11% YoY decline in revenue to Rs 2,261 Cr in Q1FY26, with a decline in the Home Textile...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Welspun Living Ltd - Sequential Recovery Gains Traction

Welspun Living reported consolidated revenue of Rs 2,435 Cr in Q4FY26, reflecting sequential recovery despite continued softness in global retail...

Axis Direct

The "Mother of All Deals": India-EU FTA as a Structural Alpha Trigger

​India signs game-changing FTA with EU, boosting key industries like textiles and auto components while facing challenges of non-tariff barriers...

Nimish Maheshwari

Asian Equities: Revisiting Indian Mid-Caps After Sharp Outperformance – A New Quant Screen

​Our Indian Mid-Cap basket (up 29.4% since Feb 27 inception) beat the BSE Mid-Cap Index (up 18.6%) sharply. We revisit the basket with the earlier...

Manishi Raychaudhuri

Welspun Living Ltd - Maintaining Market Share Amidst Sectoral Headwinds; Retain BUY Rating

Quarter Impacted by Tariff-Related Disruptions: As highlighted earlier, the 50% tariff on Indian exports to the US continued to weigh on...

Axis Direct

Welspun Living Ltd - Near-Term Headwinds Create a Long-Term Opportunity

Tariff Related Uncertainties: The company reported an 11% YoY decline in revenue to Rs 2,261 Cr in Q1FY26, with a decline in the Home Textile...

Axis Direct

India signs game-changing FTA with EU, boosting key industries like textiles and auto components while facing challenges of non-tariff barriers...

Our Indian Mid-Cap basket (up 29.4% since Feb 27 inception) beat the BSE Mid-Cap Index (up 18.6%) sharply. We revisit the basket with the earlier...