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. 

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External broker reports(aggregated public sources)

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.

Equity Bottom-Up

<ul><li>Inputs (KPIs) across the anchor segments - Food Delivery (FD) and Quick Commerce (QC) - have not worsened meaningfully (at least yet), despite the recent macro headwinds (LPG shortages, elevated crude oil prices)</li><li>Meanwhile, following the ~37% stock price correction in 6M, Swiggy is now available at ~32x FY28 FD EV/EBITDA while all else (QC, OOH) is free</li><li>Note: In FD, flow from EBITDA to PAT is &gt;100%</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>

Inputs (KPIs) across the anchor segments - Food Delivery (FD) and Quick Commerce (QC) - have not worsened meaningfully (at least yet), despite the recent macro headwinds (LPG shortages, elevated crude oil prices)Meanwhile, following the ~37% stock price correction in 6M, Swiggy is now available at ~32x FY28 FD EV/EBITDA while all else (QC, OOH) is freeNote: In FD, flow from EBITDA to PAT is &gt;100%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.

Swiggy

Swiggy: Feels like a Steal, Maintain BUY