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.

Equity Bottom-Up

<ul><li>Macro Headwinds: The quarter continued to remain sequentially better amid a lack of improvement in demand.</li><li>Clients continued to focus on cost optimisation and vendor consolidation, while also fast-tracking AI and modernisation initiatives.</li><li>Deal Wins/Pipeline: Total large deals consist of $2.8 Bn, registering 31% YoY growth. </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.

Macro Headwinds: The quarter continued to remain sequentially better amid a lack of improvement in demand.Clients continued to focus on cost optimisation and vendor consolidation, while also fast-tracking AI and modernisation initiatives.Deal Wins/Pipeline: Total large deals consist of $2.8 Bn, registering 31% YoY growth. 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.

Wipro Ltd. - In-Line Performance; Decent Deal Wins

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/meesho-inc" target="_blank" data-smartkarma-citation="entities:35872:1" rel="noopener">Meesho (1546271D IN) </a>is looking to raise around US$607m in its upcoming India IPO.</li>
<li>Meesho is an e-commerce marketplace, offering a wide assortment of products ranging from low cost unbranded products, regional and national brands at affordable prices to consumers.</li>
<li>In our earlier notes, we have looked at the company’s past performance earlier. In this note, we talk about the implied valuations in the price range.</li>
</ul>



Meesho (1546271D IN) is looking to raise around US$607m in its upcoming India IPO.
Meesho is an e-commerce marketplace, offering a wide assortment of products ranging from low cost unbranded products, regional and national brands at affordable prices to consumers.
In our earlier notes, we have looked at the company’s past performance earlier. In this note, we talk about the implied valuations in the price range.


Meesho Ltd IPO - Value-Led Play, Moderately Priced

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>Wipro (WPRO) posted a revenue decline of 0.8% QoQ CC, which was towards the lower end of the guidance, while the IT services margin at 17.5% was better vs expectations</li><li>The revenue guidance for Q1FY26E was disappointing at -3.5 to -1.5% QoQ CC</li><li>Despite a strong increase in order booking and large deal wins, Wipro highlighted that clients have become more cautious due to global economic uncertainty and recent tariff announcements</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.

Wipro (WPRO) posted a revenue decline of 0.8% QoQ CC, which was towards the lower end of the guidance, while the IT services margin at 17.5% was better vs expectationsThe revenue guidance for Q1FY26E was disappointing at -3.5 to -1.5% QoQ CCDespite a strong increase in order booking and large deal wins, Wipro highlighted that clients have become more cautious due to global economic uncertainty and recent tariff announcementsContent 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.

Wipro - Weak Guidance Amidst Economic Uncertainty

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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>Wipro (WPRO) reported 3QFY25 IT Services revenue of USD2.6b (0.1% QoQ) in constant currency (CC), above our estimate of a 1.0% QoQ decline.</li><li>It posted an order intake of USD3.5b (down 1.3% QoQ), with a large deal TCV of USD0.96b (down 35% QoQ).</li><li>EBIT margin of IT Services was 17.5% (est.</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.

Wipro (WPRO) reported 3QFY25 IT Services revenue of USD2.6b (0.1% QoQ) in constant currency (CC), above our estimate of a 1.0% QoQ decline.It posted an order intake of USD3.5b (down 1.3% QoQ), with a large deal TCV of USD0.96b (down 35% QoQ).EBIT margin of IT Services was 17.5% (est.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.

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

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>The operating performance witnessed notable improvement in 3Q, the intensity of decline within certain pockets has receded despite having furloughs impact during the quarter.</li><li>The gaining operational strength is attributed to the internal measures coupled with improving spending sentiment on the discretionary areas.</li><li>The spending environment looks promising in BFSI and Healthcare, especially in the Americas region, while other verticals and geographies are progressing to achieve a steady state.</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 operating performance witnessed notable improvement in 3Q, the intensity of decline within certain pockets has receded despite having furloughs impact during the quarter.The gaining operational strength is attributed to the internal measures coupled with improving spending sentiment on the discretionary areas.The spending environment looks promising in BFSI and Healthcare, especially in the Americas region, while other verticals and geographies are progressing to achieve a steady state.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.

Wipro (WPRO IN) - Strong Beat on Margins…

India

Wipro Limited specializes in IT and computer related technologies. The Group's services encompass a number of areas, including software architecture, business intelligence systems, e-commerce, data warehousing, Internet access devices, network management, system administration, messaging systems, IT consulting and design. Wipro also has a presence in niche markets of consumer products.

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Wipro Ltd Adr (WIT US)

Wipro Ltd. - In-Line Performance; Decent Deal Wins

Clients continued to focus on cost optimisation and vendor consolidation, while also fast-tracking AI and modernisation initiatives.

Axis Direct

Meesho Ltd IPO - Value-Led Play, Moderately Priced

Meesho Ltd (ML) is looking to raise around US$607m in its upcoming India IPO. In this note, we talk about the company’s implied valuations in the...

Akshat Shah

Wipro - Weak Guidance Amidst Economic Uncertainty

Wipro (WPRO) posted a revenue decline of 0.8% QoQ CC, which was towards the lower end of the guidance, while the IT services margin at 17.5% was...

HDFC Securities

Wipro - Steady with Little Surprises

Wipro (WPRO) reported 3QFY25 IT Services revenue of USD2.6b (0.1% QoQ) in constant currency (CC), above our estimate of a 1.0% QoQ decline.

Motilal Oswal

Wipro (WPRO IN) - Strong Beat on Margins…

The operating performance witnessed notable improvement in 3Q, the intensity of decline within certain pockets has receded despite having furloughs...

Prabhudas Lilladhar

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