External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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.

Thematic (Sector/Industry)

<ul><li>Bajaj Auto: Driven by a better mix and higher sales of spare parts, Bajaj Auto’s Q2 revenue grew 21% YoY to INR 127bn (HSIE INR 128bn)</li><li>Freedom 125 retail sales stood at 10k till Sept-24, with an expectation to hit 18k by Oct-24</li><li>Based on positive feedback, BAL is increasing capacity for Freedom 125 to 30k units per month in Q3, then to 40k units per month in Q4</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 Auto: Driven by a better mix and higher sales of spare parts, Bajaj Auto’s Q2 revenue grew 21% YoY to INR 127bn (HSIE INR 128bn)Freedom 125 retail sales stood at 10k till Sept-24, with an expectation to hit 18k by Oct-24Based on positive feedback, BAL is increasing capacity for Freedom 125 to 30k units per month in Q3, then to 40k units per month in Q4Content 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.

HSIE Results Daily: Bajaj Auto, L&T Technology Services

<ul><li>The premiumisation trend remains in focus with UVs and premium 2Ws driving the growth</li><li>The entry-level 2W demand is expected to increase after a good monsoon and kharif sowing</li><li>However, it is pertinent to highlight that demand for 125cc and above continued to be strong</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 premiumisation trend remains in focus with UVs and premium 2Ws driving the growthThe entry-level 2W demand is expected to increase after a good monsoon and kharif sowingHowever, it is pertinent to highlight that demand for 125cc and above continued to be strongContent 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.

Autos (Q2FY25 Results Preview): 2W to Drive Growth, Soft Quarter for PVs

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. 

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>Sep’24 Wholesale Volumes: The domestic 2W industry witnessed strong volume growth of ~17%/20% and 2W exports were up by 19%/9%% YoY/ MoM respectively.</li><li>The domestic PV sales (Exhibit-2) volume stood between -2% to 2% YoY, largely due to weakness in MSIL/Tata Motors/Hyundai/ Honda, partly offset by strong domestic SUV volumes by Toyota/ M&amp;M/Kia.</li><li>The domestic CV industry sales degrew by ~12% YoY mainly due to lower MHCV truck and Bus volumes. </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.

Sep’24 Wholesale Volumes: The domestic 2W industry witnessed strong volume growth of ~17%/20% and 2W exports were up by 19%/9%% YoY/ MoM respectively.The domestic PV sales (Exhibit-2) volume stood between -2% to 2% YoY, largely due to weakness in MSIL/Tata Motors/Hyundai/ Honda, partly offset by strong domestic SUV volumes by Toyota/ M&amp;M/Kia.The domestic CV industry sales degrew by ~12% YoY mainly due to lower MHCV truck and Bus volumes. 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.

Auto Monthly Sales Volume - September 2024

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our outlook remains neutral on global equities (MSCI ACWI) as of our August 8, 2024 Int’l Compass, after being bullish since early-November 2023</li>
<li>As discussed since late-July, we believe we're still within a 4- to 6-month pullback/consolidation from our selected July 17 starting point, until the market decides which was this consolidation resolves </li>
<li>TOPIX is below 2740-2820 resistance. Europe is testing resistance, though near potential breakouts on the EURO STOXX 50, STOXX Europe 600, and STOXX Europe 50. Watch for false breakouts</li>
</ul>


Our outlook remains neutral on global equities (MSCI ACWI) as of our August 8, 2024 Int’l Compass, after being bullish since early-November 2023
As discussed since late-July, we believe we're still within a 4- to 6-month pullback/consolidation from our selected July 17 starting point, until the market decides which was this consolidation resolves 
TOPIX is below 2740-2820 resistance. Europe is testing resistance, though near potential breakouts on the EURO STOXX 50, STOXX Europe 600, and STOXX Europe 50. Watch for false breakouts


Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI Ex-US, EAFE (Local Curr) Below Resistance

<ul><li>Aug’24 Wholesale Volumes: The domestic 2W industry witnessed strong volume growth of ~9%/19% and total exports were up by 14%/2%% YoY/ MoM respectively.</li><li>The domestic PV sales (Exhibit-2) degrew by 1-4% YoY (up 3% MoM), largely due to weakness in MSIL/Tata Motors/Hyundai/ Honda partly offset by strong domestic SUV volumes by Toyota/ M&amp;M/ Kia/ MG.</li><li>The domestic CV industry sales degrew by ~11% YoY (marginally up 3% MoM) mainly due to lower MHCV truck volumes which were partly set off by high bus volumes). </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.

Aug’24 Wholesale Volumes: The domestic 2W industry witnessed strong volume growth of ~9%/19% and total exports were up by 14%/2%% YoY/ MoM respectively.The domestic PV sales (Exhibit-2) degrew by 1-4% YoY (up 3% MoM), largely due to weakness in MSIL/Tata Motors/Hyundai/ Honda partly offset by strong domestic SUV volumes by Toyota/ M&amp;M/ Kia/ MG.The domestic CV industry sales degrew by ~11% YoY (marginally up 3% MoM) mainly due to lower MHCV truck volumes which were partly set off by high bus volumes). 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.

India

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

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Bajaj Auto Ltd (BJAUT IN)

HSIE Results Daily: Bajaj Auto, L&T Technology Services

Bajaj Auto: Driven by a better mix and higher sales of spare parts, Bajaj Auto’s Q2 revenue grew 21% YoY to INR 127bn (HSIE INR 128bn)

HDFC Securities

Autos (Q2FY25 Results Preview): 2W to Drive Growth, Soft Quarter for PVs

The premiumisation trend remains in focus with UVs and premium 2Ws driving the growth. The entry-level 2W demand is expected to increase after a...

HDFC Securities

Auto Monthly Sales Volume - September 2024

Sep’24 Wholesale Volumes: The domestic 2W industry witnessed strong volume growth of ~17%/20% and 2W exports were up by 19%/9%% YoY/ MoM respectively.

Axis Direct

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI Ex-US, EAFE (Local Curr) Below Resistance

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI ex-US, and EAFE (local currency) Also Below Resistance Though Testing Now; $EEM breakout...

Vermilion Research

Auto Monthly Volume August 2024

Aug’24 Wholesale Volumes: The domestic 2W industry witnessed strong volume growth of ~9%/19% and total exports were up by 14%/2%% YoY/ MoM...

Axis Direct

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