External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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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>Novelis’s Revenue/EBITDA/PAT stood largely in line despite a surprise 9%/6% YoY/QoQ drop in shipments (4% miss) to 879kt due to lower can and speciality shipments.</li><li>Despite lower shipments, revenue (down 20%/7% YoY/QoQ) missed our estimate by only 2%, led by an improved product mix (higher auto shipments).</li><li>LME Aluminium prices were down 22%/5% YoY/QoQ in Q1FY24. </li></ul><p><em>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.</em></p>

Novelis’s Revenue/EBITDA/PAT stood largely in line despite a surprise 9%/6% YoY/QoQ drop in shipments (4% miss) to 879kt due to lower can and speciality shipments.Despite lower shipments, revenue (down 20%/7% YoY/QoQ) missed our estimate by only 2%, led by an improved product mix (higher auto shipments).LME Aluminium prices were down 22%/5% YoY/QoQ in Q1FY24. 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.

Hindalco Industries Ltd - Margin Recovery at Novelis