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>Jun’24 Wholesale Volumes: The domestic PV sales (Exhibit-2) grew by 5% YoY (down 3% MoM), largely led by strong domestic SUV volumes across Original Equipment Manufacturers (OEMs) , which were partly offset by weakness in entry-level cars.</li><li>The domestic 2W industry (excl HMSI) witnessed volume growth of ~11% YoY (down 3% MoM) led by rural recovery; however exports declined 4% YoY (down 9% MoM) respectively.</li><li>The domestic CV industry sales degrew by ~4% YoY (up 6% MoM) mainly due to lower LCV and MHCV goods carrier volumes being partly set off by high industry volume for buses. </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.

Jun’24 Wholesale Volumes: The domestic PV sales (Exhibit-2) grew by 5% YoY (down 3% MoM), largely led by strong domestic SUV volumes across Original Equipment Manufacturers (OEMs) , which were partly offset by weakness in entry-level cars.The domestic 2W industry (excl HMSI) witnessed volume growth of ~11% YoY (down 3% MoM) led by rural recovery; however exports declined 4% YoY (down 9% MoM) respectively.The domestic CV industry sales degrew by ~4% YoY (up 6% MoM) mainly due to lower LCV and MHCV goods carrier volumes being partly set off by high industry volume for buses. 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.

<ul><li>May’24 Wholesale Volumes: The domestic PV sales (Exhibit-2) grew by 6%/4%YoY/MoM, largely led by strong domestic SUV volumes across Original Equipment Manufacturers (OEMs) , which were partly offset by weakness in entry-level cars and exports (in Maruti).</li><li>The domestic 2W industry after witnessing strong double digit growth on a low base, witnessed volume growth of ~10% YoY (down 8% MoM) and export volume grew 12% YoY (down 7% MoM) respectively.</li><li>The domestic CV industry sales grew by ~3% YoY (flat MoM), driven by high volumes in the bus segment. </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.

May’24 Wholesale Volumes: The domestic PV sales (Exhibit-2) grew by 6%/4%YoY/MoM, largely led by strong domestic SUV volumes across Original Equipment Manufacturers (OEMs) , which were partly offset by weakness in entry-level cars and exports (in Maruti).The domestic 2W industry after witnessing strong double digit growth on a low base, witnessed volume growth of ~10% YoY (down 8% MoM) and export volume grew 12% YoY (down 7% MoM) respectively.The domestic CV industry sales grew by ~3% YoY (flat MoM), driven by high volumes in the bus segment. 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.

<ul><li>Apr’24 Wholesale Volumes: The domestic PV sales (Exhibit-2) grew by low single-digits YoY, largely led by strong SUV volumes across OEMs, which were partly offset by continued weakness in entry-level cars (in Maruti).</li><li>The 2W industry reported strong domestic volume growth of ~31%/19% YoY/MoM and export volume growth of 24% YoY (flat MoM) respectively.</li><li>The domestic CV industry sales grew by ~14% YoY (down 26% MoM). The 3W domestic wholesales for Bajaj grew by 3% while TVS/M&amp;M de-grew by 21%/1% YoY respectively.</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.

Apr’24 Wholesale Volumes: The domestic PV sales (Exhibit-2) grew by low single-digits YoY, largely led by strong SUV volumes across OEMs, which were partly offset by continued weakness in entry-level cars (in Maruti).The 2W industry reported strong domestic volume growth of ~31%/19% YoY/MoM and export volume growth of 24% YoY (flat MoM) respectively.The domestic CV industry sales grew by ~14% YoY (down 26% MoM). The 3W domestic wholesales for Bajaj grew by 3% while TVS/M&amp;M de-grew by 21%/1% YoY respectively.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.

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. 

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>Q3FY24 earnings season saw an overall in-line performance, with wide divergences across sectors and companies</li><li>Aggregate revenue/PAT grew by 5%/20% YoY and 4%/-4% QoQ across the HSIE coverage (~224 stocks), with their four-year CAGRs at 13%/18%</li><li>There was similar participation by large and midcap categories towards incremental earnings growth as large-cap grew by 20% YoY and midcap grew by 21% YoY</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.

Q3FY24 earnings season saw an overall in-line performance, with wide divergences across sectors and companiesAggregate revenue/PAT grew by 5%/20% YoY and 4%/-4% QoQ across the HSIE coverage (~224 stocks), with their four-year CAGRs at 13%/18%There was similar participation by large and midcap categories towards incremental earnings growth as large-cap grew by 20% YoY and midcap grew by 21% YoYContent 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 Equity Strategy: Input Cost Benefits Drive Earnings Growth, Revenue Contribution Muted

<ul><li>Over the last year, the key benchmark indices Nifty 50, Nifty Midcap 100 and Nifty Small-Cap 100 have delivered returns of 22%, 56% and 66% respectively</li><li>Given such returns, it is prudent to pause and analyse the current valuation levels of these indices and their constituents which will be a key determinant of their future returns</li><li>We have analysed all indices and their constituents’ historical break-ups, sectoral composition shifts, and valuation swings (using P/B as a common metric).</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.

Over the last year, the key benchmark indices Nifty 50, Nifty Midcap 100 and Nifty Small-Cap 100 have delivered returns of 22%, 56% and 66% respectivelyGiven such returns, it is prudent to pause and analyse the current valuation levels of these indices and their constituents which will be a key determinant of their future returnsWe have analysed all indices and their constituents’ historical break-ups, sectoral composition shifts, and valuation swings (using P/B as a common metric).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.

Valuation of Indices: All Indices and Most Sectors in the Overheated Zone

India

Tata Motors Passenger Vehicles Limited is an Indian multinational automobile manufacturer that designs, manufactures, and sells a diverse portfolio of passenger cars and utility vehicles, including electric variants. The company is a key player in India's electric vehicle market and also owns the British car manufacturer Jaguar Land Rover. It is headquartered in Mumbai, India, and was founded in 1945 as Tata Motors Limited, with the passenger vehicles business later carved out as a dedicated subsidiary.

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Tata Motors Passenger Vehicles (TMPV IN)

Auto Monthly Volume - June 2024

The domestic PV sales (Exhibit-2) grew by 5% YoY (down 3% MoM), largely led by strong domestic SUV volumes across Original Equipment Manufacturers...

Axis Direct

Auto Monthly Volume - May 2024

The domestic 2W industry after witnessing strong double digit growth on a low base, witnessed volume growth of ~10% YoY (down 8% MoM) and export...

Axis Direct

Auto Monthly Volume April 2024

The 2W industry reported strong domestic volume growth of ~31%/19% YoY/MoM and export volume growth of 24% YoY (flat MoM) respectively.

Axis Direct

India Equity Strategy: Input Cost Benefits Drive Earnings Growth, Revenue Contribution Muted

Q3FY24 earnings season saw an overall in-line performance, with wide divergences across sectors and companies. Aggregate revenue/PAT grew by 5%/20%...

HDFC Securities

Valuation of Indices: All Indices and Most Sectors in the Overheated Zone

Over the last year, the key benchmark indices Nifty 50, Nifty Midcap 100 and Nifty Small-Cap 100 have delivered returns of 22%, 56% and 66%...

HDFC Securities

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