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>Over Apr–Nov’26, Cumulative 2W domestic sales grew by 7% YoY to 1.7 Cr units, supported by strong performances from TVS (+15%), RE (+25%), and Hero (+30%), which more than offset a marginal decline in Bajaj (-1%).</li><li>In contrast, 2W exports reflected improved traction across global markets.</li><li>On a YTD basis, 3W domestic wholesales rose 16% YoY to 5.5 Lc units, led by TVS (+57%) and M&amp;M (+28%), while Bajaj reported modest 3% 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.

Over Apr–Nov’26, Cumulative 2W domestic sales grew by 7% YoY to 1.7 Cr units, supported by strong performances from TVS (+15%), RE (+25%), and Hero (+30%), which more than offset a marginal decline in Bajaj (-1%).In contrast, 2W exports reflected improved traction across global markets.On a YTD basis, 3W domestic wholesales rose 16% YoY to 5.5 Lc units, led by TVS (+57%) and M&amp;M (+28%), while Bajaj reported modest 3% 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.

Auto Monthly Sales Volume - November 2025

<ul><li>Strong 1500+ points Rally in Nifty 50 since Oct’25: After seeing some pullback in Jul/Aug’25, a broad-based recovery was seen since Oct’25.</li><li>Nifty 50 saw a comeback with a 1500+ points rally. This was led by 1) Better-than-expected earnings performance for the first half, 2) Optimism building for 15% tariffs for India, 3) Early signs of consumption pickup, 4) Stable currency, 5) Relative attractiveness in valuations vs other emerging markets, and 6) Positive sentiments.</li><li>Based on the above developments and after almost 14 months of underperformance, Nifty touched the all-time high level of 26,203 on 28th Nov’25 (similar levels were earlier seen in Sep’24). </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.

Strong 1500+ points Rally in Nifty 50 since Oct’25: After seeing some pullback in Jul/Aug’25, a broad-based recovery was seen since Oct’25.Nifty 50 saw a comeback with a 1500+ points rally. This was led by 1) Better-than-expected earnings performance for the first half, 2) Optimism building for 15% tariffs for India, 3) Early signs of consumption pickup, 4) Stable currency, 5) Relative attractiveness in valuations vs other emerging markets, and 6) Positive sentiments.Based on the above developments and after almost 14 months of underperformance, Nifty touched the all-time high level of 26,203 on 28th Nov’25 (similar levels were earlier seen in Sep’24). 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.

Axis Top Picks for the month of December 2025

Equity Bottom-Up

Biocon Ltd., is an integrated biotechnology enterprise with a presence in biopharmaceuticals, enzymes, custom research and clinical research. The Company's pharmaceutical products include statins, immunosuppressants and anti-diabetic drugs. Biocon also manufactures specialty enzymes and new enzyme applications besides providing clinical and custom research services.

<ul><li>Biocon Limited is an innovation-led, global biopharmaceutical company dedicated to enhancing affordable access to complex therapies for chronic conditions such as diabetes, cancer, and autoimmune diseases.</li><li>The company has developed and commercialized novel biologics, biosimilars, complex small molecule APIs in India and key global markets, and generic formulations in the US and Europe.</li><li>Additionally, it has a pipeline of promising novel assets in immunotherapy under development.</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.

Biocon Limited is an innovation-led, global biopharmaceutical company dedicated to enhancing affordable access to complex therapies for chronic conditions such as diabetes, cancer, and autoimmune diseases.The company has developed and commercialized novel biologics, biosimilars, complex small molecule APIs in India and key global markets, and generic formulations in the US and Europe.Additionally, it has a pipeline of promising novel assets in immunotherapy under development.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.

Pick of the Week: Biocon - 29th November, 2025

Elecon Engineering Co. Limited manufactures a wide variety of material handling equipment.  The Company's products include bucket elevators, belt conveyors, gravity roller conveyors, bag filling machines, bag stacking machines and overhead chair conveyors.  Elecon also manufactures reduction gears, wagon marshalling equipment, electric & manual cranes, hoists, winders and stackers.

<ul><li>We are initiating coverage on Elecon Engineering Company Ltd. (Elecon).</li><li>Established in 1951 and headquartered in Gujarat, Elecon is a leading Indian manufacturer of industrial gear systems and material handling equipment.</li><li>As Asia’s largest gear manufacturer, it caters to critical sectors including power, steel, cement, and mining. </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.

We are initiating coverage on Elecon Engineering Company Ltd. (Elecon).Established in 1951 and headquartered in Gujarat, Elecon is a leading Indian manufacturer of industrial gear systems and material handling equipment.As Asia’s largest gear manufacturer, it caters to critical sectors including power, steel, cement, and mining. 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.

MOIL Ltd., offers mining operations and services. The Company operates mines located in the Nagpur and Bhandara districts of Maharashtra and in the Balaghat district of Madhya Pradesh.

<ul><li>Largest producer of manganese ore in India with access to significant reserves: With a thrust on expansion and modernization of its mines along with progress on resources and reserves (R&amp;R) addition MOIL was able to come out of its rangebound production level of 11-13 Lc T during FY20-23 to 17.56 Lc Tonnes in FY24 and it managed to clock in the record production volumes at 18.02 Lc tonnes up 3% YoY in FY25.</li><li>It also clocked record manganese ore sales at 15.87 Lc tonnes, registering a growth of 3.3% YoY.</li><li>Ferro Manganese production also stood at record level at 12,000 MT up 18% YoY. The company has around 121.97 MT of R&amp;R as of Mar’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.

Largest producer of manganese ore in India with access to significant reserves: With a thrust on expansion and modernization of its mines along with progress on resources and reserves (R&amp;R) addition MOIL was able to come out of its rangebound production level of 11-13 Lc T during FY20-23 to 17.56 Lc Tonnes in FY24 and it managed to clock in the record production volumes at 18.02 Lc tonnes up 3% YoY in FY25.It also clocked record manganese ore sales at 15.87 Lc tonnes, registering a growth of 3.3% YoY.Ferro Manganese production also stood at record level at 12,000 MT up 18% YoY. The company has around 121.97 MT of R&amp;R as of Mar’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.

Axis Punch: MOIL Ltd - 27th November, 2025

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.