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>Cumulatively for April–July FY26, 2W domestic sales declined 3% YoY to 59.8 Lc units as Hero (-6%) and Bajaj (-11%) dragged overall volumes, despite strong performances from TVS (+13%) and RE (+15%).</li><li>On the other hand, 2W exports surged 25% YoY to 14.5 Lc units, reflecting improved traction in global markets, especially Africa and Latin America.</li><li>On a YTD basis, 3W domestic wholesales rose 12% YoY to 2.42 Lc units, led by M&amp;M (+41%), TVS (+38%), and a marginal dip at Bajaj. </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.

Cumulatively for April–July FY26, 2W domestic sales declined 3% YoY to 59.8 Lc units as Hero (-6%) and Bajaj (-11%) dragged overall volumes, despite strong performances from TVS (+13%) and RE (+15%).On the other hand, 2W exports surged 25% YoY to 14.5 Lc units, reflecting improved traction in global markets, especially Africa and Latin America.On a YTD basis, 3W domestic wholesales rose 12% YoY to 2.42 Lc units, led by M&amp;M (+41%), TVS (+38%), and a marginal dip at Bajaj. 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>Softer demand both domestically and globally continues to impact volume growth</li><li>Key exceptions to this are TVS Motor, Eicher Motors, and Mahindra &amp; Mahindra</li><li>While TVS Motors is riding on the back of its successful models and variants, including the EVs, it has also been expanding its geographic footprint, thus adding further legs to its growth</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.

Softer demand both domestically and globally continues to impact volume growthKey exceptions to this are TVS Motor, Eicher Motors, and Mahindra &amp; MahindraWhile TVS Motors is riding on the back of its successful models and variants, including the EVs, it has also been expanding its geographic footprint, thus adding further legs to its growthContent 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 (Q1FY26 Results Preview): Operating deleverage, RM cost to impact margin

<ul><li>Jun’25 Wholesale Volumes: The overall domestic 2W industry witnessed 2% marginal uptick (and 10% YoY without HMSI) in volumes, led by outperformance in exports (up 35% YoY) while the domestic industry witnessed 3% YoY decline.</li><li>Domestic PV industry sales volume was down 7-8% YoY, due to declines in Hyundai /TaMo /Maruti being partly offset by strong volumes by M&amp;M and JSW MG, followed by Toyota.</li><li>The domestic CV industry (proxy) saw a degrowth of 4% YoY, while the domestic tractor industry (proxy) registered 15% YoY volume growth in Jun’25.</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’25 Wholesale Volumes: The overall domestic 2W industry witnessed 2% marginal uptick (and 10% YoY without HMSI) in volumes, led by outperformance in exports (up 35% YoY) while the domestic industry witnessed 3% YoY decline.Domestic PV industry sales volume was down 7-8% YoY, due to declines in Hyundai /TaMo /Maruti being partly offset by strong volumes by M&amp;M and JSW MG, followed by Toyota.The domestic CV industry (proxy) saw a degrowth of 4% YoY, while the domestic tractor industry (proxy) registered 15% YoY volume growth in Jun’25.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>In the past few quarters, rural India has been shouldering the responsibility of consumption growth in the country while urban mass consumption remained soft, impacted adversely by persistent inflation</li><li>Against this backdrop, our report is a bottom-up analysis of ~250 rural districts across eight key Indian states, representing ~72% of rural India GDP</li><li>It demonstrates the strength of rural growth with following inferences, reinforcing the thesis presented in our previous Rural India report Rural India is transitioning swiftly from an agri-centric economy to a services-led economy 112 rural districts representing a population of 291mn have already crossed the threshold of per capita income of USD2,000</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 the past few quarters, rural India has been shouldering the responsibility of consumption growth in the country while urban mass consumption remained soft, impacted adversely by persistent inflationAgainst this backdrop, our report is a bottom-up analysis of ~250 rural districts across eight key Indian states, representing ~72% of rural India GDPIt demonstrates the strength of rural growth with following inferences, reinforcing the thesis presented in our previous Rural India report Rural India is transitioning swiftly from an agri-centric economy to a services-led economy 112 rural districts representing a population of 291mn have already crossed the threshold of per capita income of USD2,000Content 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.

Rural India: Shifting economic foundations

<ul><li>May’25 Wholesale Volumes: The overall domestic 2W industry witnessed a 3% marginal uptick (and 7% YoY without HMSI) in volumes led by outperformance in TVS, RE, Suzuki Motorcycles (Bajaj/ Hero grew by 2% each).</li><li>Domestic PV industry sales volumes were flat YoY. While Toyota, M&amp;M, JSW, MG, and Kia reported strong volumes, this was offset by volume declines in Hyundai, TaMo, and Maruti.</li><li>The domestic CV industry saw a degrowth of 1% YoY, while the domestic tractor industry registered 8% YoY volume growth.</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’25 Wholesale Volumes: The overall domestic 2W industry witnessed a 3% marginal uptick (and 7% YoY without HMSI) in volumes led by outperformance in TVS, RE, Suzuki Motorcycles (Bajaj/ Hero grew by 2% each).Domestic PV industry sales volumes were flat YoY. While Toyota, M&amp;M, JSW, MG, and Kia reported strong volumes, this was offset by volume declines in Hyundai, TaMo, and Maruti.The domestic CV industry saw a degrowth of 1% YoY, while the domestic tractor industry registered 8% YoY volume growth.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

TVS Motor Company is an Indian multinational manufacturer of two-wheelers and three-wheelers, including motorcycles, scooters, mopeds, and electric vehicles. The company also offers financial services, insurance, and vehicle repairs. It is headquartered in Chennai, Tamil Nadu, India, and was founded in 1978.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

TVS Motor Company (TVSL IN)

Auto Monthly Sales Volume - July 2025

The industry outlook remains cautiously optimistic, with festive stocking and monsoon progression as key variables for demand in H2FY26.

Axis Direct

Autos (Q1FY26 Results Preview): Operating deleverage, RM cost to impact margin

While TVS Motors is riding on the back of its successful models and variants, including the EVs, it has also been expanding its geographic...

HDFC Securities

Auto Monthly Sales Volume - June 2025

Domestic PV industry sales volume was down 7-8% YoY, due to declines in Hyundai /TaMo /Maruti being partly offset by strong volumes by M&M and JSW...

Axis Direct

Rural India: Shifting economic foundations

Against this backdrop, our report is a bottom-up analysis of ~250 rural districts across eight key Indian states, representing ~72% of rural India GDP

HDFC Securities

Auto Monthly Sales Volume - May 2025

The overall domestic 2W industry witnessed a 3% marginal uptick (and 7% YoY without HMSI) in volumes led by outperformance in TVS, RE, Suzuki...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)