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.

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.

Equity Bottom-Up

<ul><li>Domestic Market Outlook: The Indian PV industry witnessed a muted growth of 2% YoY in FY25, compared to 8.4% in FY24 (Maruti saw flat domestic volumes).</li><li>The slowdown was attributed to a high base effect and affordability pressures, particularly impacting entrysegment cars (with SUVs/MPVs accounting for over 65% of industry sales mix respectively in FY25 vs less than 35% in FY19).</li><li>In terms of powertrain mix, CNG and diesel vehicles each constituted around 18% of sales, hybrids made up 2.4%, and EVs contributed 2.7%.</li></ul><p><em>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.</em></p>

Domestic Market Outlook: The Indian PV industry witnessed a muted growth of 2% YoY in FY25, compared to 8.4% in FY24 (Maruti saw flat domestic volumes).The slowdown was attributed to a high base effect and affordability pressures, particularly impacting entrysegment cars (with SUVs/MPVs accounting for over 65% of industry sales mix respectively in FY25 vs less than 35% in FY19).In terms of powertrain mix, CNG and diesel vehicles each constituted around 18% of sales, hybrids made up 2.4%, and EVs contributed 2.7%.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.

Maruti Suzuki  - FY26: A Mix of Opportunities and Challenges for Maruti

Maruti Suzuki India

Maruti Suzuki - FY26: A Mix of Opportunities and Challenges for Maruti