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.

Thematic (Sector/Industry)

<ul><li>Nov’24 Wholesale Volumes: The domestic 2W industry witnessed a decline in volume growth of 1% YoY and 26% MoM, while total exports grew by 32% YoY and remained flat MoM.</li><li>Domestic PV sales grew by 6-7% YoY (down 11% MoM), largely due to weakness in Hyundai and Honda, partially offset by strong domestic SUV volumes from Toyota, M&amp;M, and MG.</li><li>The domestic CV industry sales were flat YoY (down 20% MoM), mainly due to lower MHCV truck volumes, which were partially offset 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.

Nov’24 Wholesale Volumes: The domestic 2W industry witnessed a decline in volume growth of 1% YoY and 26% MoM, while total exports grew by 32% YoY and remained flat MoM.Domestic PV sales grew by 6-7% YoY (down 11% MoM), largely due to weakness in Hyundai and Honda, partially offset by strong domestic SUV volumes from Toyota, M&amp;M, and MG.The domestic CV industry sales were flat YoY (down 20% MoM), mainly due to lower MHCV truck volumes, which were partially offset 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.

Monthly Auto Volume Update - November 2024

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.

Equity Bottom-Up

<ul><li>Hyundai Motor (HMI)’s 2QFY25 performance was hit by ~9% YoY volume decline and higher discounts, leading to a 30bp YoY/70bp QoQ EBITDA margin contraction to 12.8%.</li><li>While the PV industry’s demand remains moderate, we expect HMI to post steady growth given its favorable SUV mix and strong export opportunities going forward.</li><li>Outlook We broadly retain our FY25E/26E EPS.</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.

Hyundai Motor (HMI)’s 2QFY25 performance was hit by ~9% YoY volume decline and higher discounts, leading to a 30bp YoY/70bp QoQ EBITDA margin contraction to 12.8%.While the PV industry’s demand remains moderate, we expect HMI to post steady growth given its favorable SUV mix and strong export opportunities going forward.Outlook We broadly retain our FY25E/26E EPS.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.

Hyundai Motor - Weak Demand & High Discounts Dent 2Q Performance

<ul><li>Hyundai Motors India (HMI) holds a diverse portfolio mix that covers almost 87% of India’s passenger vehicle (PV) market.</li><li>HMI boasts a healthy domestic market share in several fast-growing segments, with 34%/20%/18% share in the mid-size SUVs/compact SUVs/premium compact car segments.</li><li>HMI is well-aligned with the domestic PV industry trends, as 63% of its mix comes from utility vehicles (UVs).</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.

Hyundai Motors India (HMI) holds a diverse portfolio mix that covers almost 87% of India’s passenger vehicle (PV) market.HMI boasts a healthy domestic market share in several fast-growing segments, with 34%/20%/18% share in the mid-size SUVs/compact SUVs/premium compact car segments.HMI is well-aligned with the domestic PV industry trends, as 63% of its mix comes from utility vehicles (UVs).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.

Hyundai Motor  - In Tune with Industry Trends

South Korea

Hyundai Motor India Limited (HMIL) designs and manufactures automobiles. The Company offers cars, vans, sedans, and sport utility vehicles along with financing, leasing, and maintenance services. HMIL serves customers globally.

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Hyundai Motor India (HYUNDAI IN)

Monthly Auto Volume Update - November 2024

Nov’24 Wholesale Volumes: The domestic 2W industry witnessed a decline in volume growth of 1% YoY and 26% MoM, while total exports grew by 32% YoY...

Axis Direct

Hyundai Motor - Weak Demand & High Discounts Dent 2Q Performance

Hyundai Motor (HMI)’s 2QFY25 performance was hit by ~9% YoY volume decline and higher discounts, leading to a 30bp YoY/70bp QoQ EBITDA margin...

Motilal Oswal

Hyundai Motor - In Tune with Industry Trends

Hyundai Motors India (HMI) holds a diverse portfolio mix that covers almost 87% of India’s passenger vehicle (PV) market.

Motilal Oswal

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