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

Lupin Limited manufactures bulk actives and formulations. The principal bulk actives manufactured by it include Rifampicin, Pyrazinamide, Ethambutol (anti-TB), Cephalosporins (anti-infectives) and cardiovasculars. The company also possesses competencies in phytomedicines, in which medicines are made out of plant and herbal resources supported by the discipline of modern medicine.

<ul><li>Lupin has recently launched three major drugs in the US market: gMirabegron, gProlensa, and gChantix.</li><li>The combined sales from these three drugs could potentially generate incremental sales of ~$100 Mn per year in the US market.</li><li>gMirabegron: Lupin has launched gMirabegron, being the first to introduce the generic version in 25 mg dosages, in the US 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.

Lupin has recently launched three major drugs in the US market: gMirabegron, gProlensa, and gChantix.The combined sales from these three drugs could potentially generate incremental sales of ~$100 Mn per year in the US market.gMirabegron: Lupin has launched gMirabegron, being the first to introduce the generic version in 25 mg dosages, in the US 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.

Lupin Ltd - New Drugs Approvals Will Boost Future Prospects

Persistent Systems Limited offers outsourced software product development. The Company offer services that include testing, support, and professional services.

<ul><li>In Q4FY24, Persistent Systems Ltd (Persistent) reported revenue of Rs 2,590 Cr, up 3.4% QoQ and 3.0% QoQ (in CC terms).</li><li>Reported revenue stood in line with our expectations. The company reported operating profits of Rs 454 Cr, posting a growth of 2.8% on a QoQ basis.</li><li>Much in line with our expectations, the company’s operating margins decline marginally by 20bps to 17.5%. </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.

In Q4FY24, Persistent Systems Ltd (Persistent) reported revenue of Rs 2,590 Cr, up 3.4% QoQ and 3.0% QoQ (in CC terms).Reported revenue stood in line with our expectations. The company reported operating profits of Rs 454 Cr, posting a growth of 2.8% on a QoQ basis.Much in line with our expectations, the company’s operating margins decline marginally by 20bps to 17.5%. 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.

Persistent Systems Ltd. - Inline Results; Resilient Outlook to Aid Growth

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.

<ul><li>In Q4FY24, Wipro’s reported revenue stood in line with our expectations at Rs 22,208 Cr, flat QoQ and 5.9% QoQ (in CC terms).</li><li>The company reported operating profits of Rs 3,287 Cr, flat on a QoQ basis.</li><li>However, its operating margins expanded in line with our expectations and stood at 15%, largely led by cost optimization. </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.

In Q4FY24, Wipro’s reported revenue stood in line with our expectations at Rs 22,208 Cr, flat QoQ and 5.9% QoQ (in CC terms).The company reported operating profits of Rs 3,287 Cr, flat on a QoQ basis.However, its operating margins expanded in line with our expectations and stood at 15%, largely led by cost optimization. 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. - Inline Results; Weak Outlook

Infosys Limited provides IT consulting and software services, including e-business, program management and supply chain solutions. The Group's services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses specializing in the insurance, banking, telecommunication and manufacturing sectors.

<ul><li>In Q4FY24, Infosys Ltd (Infy) reported revenue of Rs 37,923 Cr, down 2.3% QoQ and 2.2% QoQ (in CC terms) which stood below our expectations.</li><li>The company’s operating profit, too, stood below our expectations at Rs 7,621 Cr, reporting a degrowth of 4.3% QoQ.</li><li>Its operating margins declined 40bps to 20.1%, which was largely on account of higher operating expenses and a wage hike during the quarter. </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.

In Q4FY24, Infosys Ltd (Infy) reported revenue of Rs 37,923 Cr, down 2.3% QoQ and 2.2% QoQ (in CC terms) which stood below our expectations.The company’s operating profit, too, stood below our expectations at Rs 7,621 Cr, reporting a degrowth of 4.3% QoQ.Its operating margins declined 40bps to 20.1%, which was largely on account of higher operating expenses and a wage hike during the quarter. 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.

Infosys Ltd - Weakness Continues; Tepid Guidance for FY25

Bajaj Auto Limited manufactures and distributes motorized two-wheeled and three-wheeled scooters, motorcycles and mopeds.

<ul><li>Bajaj reported a strong set of results in Q4FY24. Revenue stood largely in line with our estimates with a ~3% beat at Rs 11,178 Cr, up ~29.5% YoY (down ~5.5% QoQ) led by ~27.6%/19.2% volume YoY growth in domestic/exports market respectively.</li><li>ASP (~3.2% beat) grew by ~4.3%/6.2% YoY/QoQ. The YoY growth in the ASP was led by product premiumisation, higher sales of 3W in the product mix and a ramp-up in EV sales.</li><li>EBITDA grew by ~34.4% YoY (down ~5.5% QoQ) to Rs 2,306 Cr, a ~5.1% beat vs our estimates, led by better gross margins and lower employee costs. </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.

Bajaj reported a strong set of results in Q4FY24. Revenue stood largely in line with our estimates with a ~3% beat at Rs 11,178 Cr, up ~29.5% YoY (down ~5.5% QoQ) led by ~27.6%/19.2% volume YoY growth in domestic/exports market respectively.ASP (~3.2% beat) grew by ~4.3%/6.2% YoY/QoQ. The YoY growth in the ASP was led by product premiumisation, higher sales of 3W in the product mix and a ramp-up in EV sales.EBITDA grew by ~34.4% YoY (down ~5.5% QoQ) to Rs 2,306 Cr, a ~5.1% beat vs our estimates, led by better gross margins and lower employee costs. 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.

Bajaj Auto  - Strong Q4 Results: Positives Largely Factored in Rich Valuations

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.

Axis Direct
External broker reports(aggregated public sources)
• Axis Direct

Lupin Ltd - New Drugs Approvals Will Boost Future Prospects

The combined sales from these three drugs could potentially generate incremental sales of ~$100 Mn per year in the US market.

Axis Direct

Persistent Systems Ltd. - Inline Results; Resilient Outlook to Aid Growth

Reported revenue stood in line with our expectations. The company reported operating profits of Rs 454 Cr, posting a growth of 2.8% on a QoQ basis.

Axis Direct

Wipro Ltd. - Inline Results; Weak Outlook

In Q4FY24, Wipro’s reported revenue stood in line with our expectations at Rs 22,208 Cr, flat QoQ and 5.9% QoQ (in CC terms). The company reported...

Axis Direct

Infosys Ltd - Weakness Continues; Tepid Guidance for FY25

In Q4FY24, Infosys Ltd (Infy) reported revenue of Rs 37,923 Cr, down 2.3% QoQ and 2.2% QoQ (in CC terms) which stood below our expectations.

Axis Direct

Bajaj Auto - Strong Q4 Results: Positives Largely Factored in Rich Valuations

Revenue stood largely in line with our estimates with a ~3% beat at Rs 11,178 Cr, up ~29.5% YoY (down ~5.5% QoQ) led by ~27.6%/19.2% volume YoY...

Axis Direct