India: Relief on Food Inflation Makes an Oct'24 Rate Cut Near-Certain
​CPI inflation at 59-month low 3.5%YoY in Jul'24. We expect CPI inflation to average 4.2%YoY in Jul-Dec'24, less in H1CY25, hence expect policy...
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Maruti Suzuki India Limited - Q1 – Strong EBITDA Margins
The higher share of premium MPV/SUVs and exports in the sales mix will drive volume growth by 7% CAGR in FY24-27E. We value the stock at 27xP/E of...
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Maruti Suzuki - Suzuki’s Tech Strategy to Minimize Energy Consumption
Suzuki’s manufacturing principle: smaller, fewer, lighter, shorter, beauty Suzuki, the parent company of Maruti Suzuki India (MSIL), has unveiled...
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Ola Electric IPO - Thoughts on Valuation
Ola Electric is now looking to raise about US$730m in its India IPO. We have looked at the company's past performance in our earlier notes. In this...
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India: Potential Free Float Changes & Passive Flows in August
Changes to shareholding patterns could lead to changes in float for some stocks in local/global indices. Passive trackers will need to trade over 4...
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