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House View : Sector Speak - Dec`24 by Tata Mutual Fund * The RBI, in its recent monetary policy, shifted its stance to 'neutral' from 'withdrawal of accommodation' which lends further comfort to banks on their margin pressures. * Other than the hawkish stance on liquidity, several regulatory actions have impacted banking stocks so far. 1) Pressure to bring down Loan-Deposit Ratios (LDRs) has driven lower loan growth leading to EPS cuts. 2) Proposed upfront provisioning on project loans would likely raise credit costs. 3) Propos...
House View : Sector Speak - Dec`24 by Tata Mutual Fund
House View : Sector Speak - Dec`24 by Tata Mutual Fund
Source: Tata Mutual Fund
2024-12-20 02:43:54 pm
Hyundai, Kia`s Europe sales down 10.5 pc in November  Combined vehicle sales of leading South Korean automakers Hyundai Motor and Kia in Europe fell 10.5 per cent in November from a year ago, industry data showed on Thursday.  According to the data from the European Automobile Manufacturers' Association (ACEA), Hyundai and Kia sold a combined 79,744 units in Europe last month. ACEA data showed Hyundai Motor's sales dropped 12.5 percent on-year to 39,592 units, while those of Kia dropped 8.4 percent to 40,152 units. Th...
Hyundai, Kia`s Europe sales down 10.5 pc in November
Hyundai, Kia`s Europe sales down 10.5 pc in November
Source: IANS
2024-12-20 09:07:16 am
Auto PLI achieves Rs 20,715 crore investment, Rs 10,472 crore incremental sales The production-linked incentive (PLI) scheme for automobile and auto components industry has achieved Rs 20,715 crore investment and Rs 10,472 crore incremental sales have been achieved (as of September), with the first incentive disbursement planned for FY2024-25, the government said on Thursday.  According to the Ministry of Heavy Industries, out of 115 applications received, 82 were approved, with an estimated investment of Rs 42,500 crore, incremental sales of Rs 2,31,500 crore, a...
Auto PLI achieves Rs 20,715 crore investment, Rs 10,472 crore incremental sales
Auto PLI achieves Rs 20,715 crore investment, Rs 10,472 crore incremental sales
Source: IANS
2024-12-19 04:08:05 pm
Buy CIE India Ltd For Target Rs.575 By Motilal Oswal Financial Services Ltd Indian business to remain the growth driver Europe business unlikely to recover soon We recently met with the management of CIE Automotive India (CIEINDIA), and following are the KTAs from the discussion. For YTDCY24, India business has grown in line with industry trends – underperforming management’s guidance of target to outperform the industry by 5-10%, largely due to the underperformance of its end segments/OEMs that it is exposed to. Going forward, we expect the Indian bus...
Buy CIE India Ltd For Target Rs.575 By Motilal Oswal Financial Services Ltd
Buy CIE India Ltd For Target Rs.575 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-18 11:36:13 am
Buy Hyundai Motor India Ltd For Target Rs.2,194 By Yes Securities Ltd Powerful Lineage, Promising Levers We initiate coverage on Hyundai Motor India (HMIL) with BUY (TP of Rs2,194) at 24x FY27E), valuing the stock at par with MSIL. Although HMIL is aligned well with PV segment trends, its growth has been capacity-constrained as reflected in lower domestic volume CAGR of ~9% (vs ~16% for industry) over FY21-24. The GM plant acquisition will surely boost growth through vital capacity addition in phases. Besides leveraging the strong parentage of Hyundai Motor ...
Buy Hyundai Motor India Ltd For Target Rs.2,194 By Yes Securities Ltd
Buy Hyundai Motor India Ltd For Target Rs.2,194 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-12-17 10:48:44 am
Buy Ceat Ltd For Target Rs.3,500 By JM Financial Services CEAT to acquire Camso brand’s OHT business CEAT has entered into an agreement with Michelin to acquire Camso brand’s Off-Highway construction equipment bias tyre and tracks business. Prima facie, we see this deal as strategic positive for CEATs’ long-term goal of expanding its presence in Off-Highway Tyres (OHT) business. Acquisition of Camso’s business is expected to help CEAT widen its product portfolio (into bias tracks and construction tyres) besides gaining acc...
Buy Ceat Ltd For Target Rs.3,500 By JM Financial Services
Buy Ceat Ltd For Target Rs.3,500 By JM Financial Services
Source: JM Financial Services Ltd
2024-12-17 09:30:09 am
Buy CarTrade Tech Ltd For Target Rs.1,655 By JM Financial Services Near-term guidance enabling sustained upmove CarTrade has seen a strong uptick since posting a reputable 2QFY25 result with the stock up 40%+ since result day. While increasing understanding of the company’s business models and their growth drivers along with the operating leverage story justifies the uptick, it has caught further strength with the company twice sharing guidance on 3QFY25 – 30% YoY growth in Consumer group and 25-30% PAT growth sequentially. While PAT growth gu...
Buy CarTrade Tech Ltd For Target Rs.1,655 By JM Financial Services
Buy CarTrade Tech Ltd For Target Rs.1,655 By JM Financial Services
Source: JM Financial Services Ltd
2024-12-17 09:24:35 am
PPAP Automotive zooms on securing orders worth Rs 118 crore PPAP Automotive is currently trading at Rs. 251.45, up by 34.50 points or 15.90% from its previous closing of Rs. 216.95 on the BSE. The scrip opened at Rs. 216.95 and has touched a high and low of Rs. 260.25 and Rs. 214.25 respectively. So far 50524 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 269.00 on 12-Jan-2024 and a 52 week low of Rs. 172.00 on 27-Mar-2024. Last one week high and low of the scrip stood...
PPAP Automotive zooms on securing orders worth Rs 118 crore
PPAP Automotive zooms on securing orders worth Rs 118 crore
Source: Accord Fintech
2024-12-16 11:32:15 am
Hyundai AutoEver, MapmyIndia establish navigation map joint venture Hyundai AutoEver, the information technology affiliate of Hyundai Motor Group, said on Monday it has established a joint venture in Indonesia to develop navigation maps for the Southeast Asian country and many others in the region.  The new firm, named Terra Link Technologies, has been jointly established with India's MapmyIndia, according to the South Korean company. The joint venture will focus on developing high-quality automotive navigation maps for Indonesia, Thailand, Vie...
Hyundai AutoEver, MapmyIndia establish navigation map joint venture
Hyundai AutoEver, MapmyIndia establish navigation map joint venture
Source: IANS
2024-12-16 09:51:36 am
Chinese automaker Chery launches new model in Israel Chinese carmaker Chery began selling a new model in Israel on Sunday, as announced by its official Israeli dealership, Freesbe. The new model, Arrizo 8, is a plug-in hybrid mid-size sedan equipped with a 1.5-liter turbine engine. It can accelerate from 0 to 100 km/h in 7.8 seconds and reach a top speed of 185 km/h, with a pure electric range exceeding 100 km, Xinhua news agency reported. Chery entered the Israeli market in November 2022 and has since offered the gasoline-powered crossov...
Chinese automaker Chery launches new model in Israel
Chinese automaker Chery launches new model in Israel
Source: IANS
2024-12-16 09:00:13 am
Mahindra rides high on launching new CEV5 range of construction equipment at Bauma Conexpo Mahindra & Mahindra is currently trading at Rs. 3077.00, up by 8.90 points or 0.29% from its previous closing of Rs. 3068.10 on the BSE. The scrip opened at Rs. 3067.40 and has touched a high and low of Rs. 3086.85 and Rs. 3001.00 respectively. So far 48147 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 3221.10 on 27-Sep-2024 and a 52 week low of Rs. 1575.25 on 24-Jan-2024. Last one week high and low of the...
Mahindra rides high on launching new CEV5 range of construction equipment at Bauma Conexpo
Mahindra rides high on launching new CEV5 range of construction equipment at Bauma Conexpo
Source: Accord Fintech
2024-12-13 02:50:15 pm
Automotive components industry grows 11% in H1FY25: ACMA Automotive Component Manufacturers Association of India (ACMA) has said that the automotive components industry grew 11 per cent year-on-year to Rs 3.32 lakh crore in the first half of the current fiscal (H1FY25). The turnover of the automotive component industry in the April-September period of last fiscal stood at Rs 2.98 lakh crore. It said exports grew by 7 per cent to $11.1 billion (Rs 93.34 lakh crore) while imports grew by 4 per cent to $11 billion (Rs 92.05 lakh crore) with $150 milli...
Automotive components industry grows 11% in H1FY25: ACMA
Automotive components industry grows 11% in H1FY25: ACMA
Source: Accord Fintech
2024-12-13 11:50:22 am
Emmforce Autotech surges on bagging order worth Rs 470 crore Emmforce Autotech is currently trading at Rs. 146.00, up by 2.20 points or 1.53% from its previous closing of Rs. 143.80 on the BSE. The scrip opened at Rs. 143.80 and has touched a high and low of Rs. 147.20 and Rs. 143.80 respectively. So far 18000 shares were traded on the counter. The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 264.00 on 15-May-2024 and a 52 week low of Rs. 95.05 on 29-Oct-2024. Last one week high and low of the scrip stood ...
Emmforce Autotech surges on bagging order worth Rs 470 crore
Emmforce Autotech surges on bagging order worth Rs 470 crore
Source: Accord Fintech
2024-12-13 10:49:51 am
Indian auto parts supplier Sona Comstar looks East for growth Indian auto component maker Sona Comstar, supplier to companies such as Ford and Stellantis, is in talks with carmakers in China, Japan and South Korea as it looks to expand beyond its main markets of North America and Europe. In an interview, Group CEO Vivek Vikram Singh said Sona Comstar was in "active discussions" with automakers in these regions to supply components for electric and hybrid cars, as well as internal combustion engine vehicles. He did not identify the carmak...
Indian auto parts supplier Sona Comstar looks East for growth
Indian auto parts supplier Sona Comstar looks East for growth
Source: Reuters
2024-12-12 05:54:33 pm
Emmforce Autotech rises on bagging order worth Rs 470 crore Emmforce Autotech is currently trading at Rs. 144.00, up by 1.50 points or 1.05% from its previous closing of Rs. 142.50 on the BSE. The scrip opened at Rs. 146.80 and has touched a high and low of Rs. 169.25 and Rs. 143.65 respectively. So far 404400 shares were traded on the counter. The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 264.00 on 15-May-2024 and a 52 week low of Rs. 95.05 on 29-Oct-2024. Last one week high and low of the scrip stood...
Emmforce Autotech rises on bagging order worth Rs 470 crore
Emmforce Autotech rises on bagging order worth Rs 470 crore
Source: Accord Fintech
2024-12-12 11:40:19 am
TVS Motor Company moves up on launching TVS iQube 2.2 kWh in Sri Lanka TVS Motor Company is currently trading at Rs. 2530.00, up by 9.75 points or 0.39% from its previous closing of Rs. 2520.25 on the BSE. The scrip opened at Rs. 2521.60 and has touched a high and low of Rs. 2532.05 and Rs. 2516.80 respectively. So far 728 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2958.15 on 27-Sep-2024 and a 52 week low of Rs. 1873.05 on 19-Apr-2024. Last one week high and low of the scrip s...
TVS Motor Company moves up on launching TVS iQube 2.2 kWh in Sri Lanka
TVS Motor Company moves up on launching TVS iQube 2.2 kWh in Sri Lanka
Source: Accord Fintech
2024-12-09 09:41:42 am
Buy Hero MotoCorp Ltd For Target Rs. 5,269 By Geojit Financial Services Ltd Solid Q2 results, Festive season to drive growth Hero MotoCorp (HMCL) is India’s leading two-wheeler manufacturer, with nearly 32% share of the domestic motorcycle market in volume terms. The company has eight manufacturing facilities  -  six in India and one each in Colombia and Bangladesh. * In Q2FY25, Hero MotoCorp's standalone revenue increased 10.8% YoY to Rs. 10,463cr, driven by a 7.3% rise in sales volume and higher average selling prices due to better product...
Buy Hero MotoCorp Ltd For Target Rs. 5,269 By Geojit Financial Services Ltd
Buy Hero MotoCorp Ltd For Target Rs. 5,269 By Geojit Financial Services Ltd
Source: Geojit Financial Services Ltd
2024-12-07 12:18:50 pm
Maruti Suzuki, JSW MG Motor hike car prices following Hyundai India India's top carmaker Maruti Suzuki and smaller rival JSW MG Motor on Friday said they will hike car prices to tackle rising raw material and operational costs, joining Hyundai Motor India. Maruti plans to hike prices by up to 4%, depending on the model, while JSW MG Motor - a joint venture between SAIC Motor and JSW Group - plans to hike prices by up to 3% across products. Both will be effective January 2025. Indian automakers are grappling with higher costs from rising global co...
Maruti Suzuki, JSW MG Motor hike car prices following Hyundai India
Maruti Suzuki, JSW MG Motor hike car prices following Hyundai India
Source: Reuters
2024-12-07 10:03:27 am
After Hyundai, Mahindra hikes prices across SUV, CV range by up to 3 pc  Mahindra & Mahindra on Friday announced a price hike for its SUV and commercial vehicle (CV) range, effective from January next year.  The extent of the price increase across different SUVs and commercial vehicles will be up to 3 per cent, the automaker said in a statement. “This adjustment is in response to the rising costs due to inflation and increased commodity prices,” it added. Mahindra said it has made efforts to absorb as much of these additional co...
After Hyundai, Mahindra hikes prices across SUV, CV range by up to 3 pc
After Hyundai, Mahindra hikes prices across SUV, CV range by up to 3 pc
Source: IANS
2024-12-07 09:16:27 am
Hero MotoCorp inches up on launching power-packed VIDA V2 range of electric scooters Hero MotoCorp is currently trading at Rs. 4635.90, up by 1.95 points or 0.04% from its previous closing of Rs. 4633.95 on the BSE. The scrip opened at Rs. 4685.10 and has touched a high and low of Rs. 4685.10 and Rs. 4590.00 respectively. So far 15260 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 6245.00 on 24-Sep-2024 and a 52 week low of Rs. 3684.00 on 11-Dec-2023. Last one week high and low of the scrip sto...
Hero MotoCorp inches up on launching power-packed VIDA V2 range of electric scooters
Hero MotoCorp inches up on launching power-packed VIDA V2 range of electric scooters
Source: Accord Fintech
2024-12-05 03:05:01 pm
Force Motors declines despite reporting marginal rise in total sales during November 2024 Force Motors is currently trading at Rs. 6895.00, down by 88.60 points or 1.27% from its previous closing of Rs. 6983.60 on the BSE. The scrip opened at Rs. 7077.55 and has touched a high and low of Rs. 7150.60 and Rs. 6858.55 respectively. So far 1291 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 10272.65 on 29-Apr-2024 and a 52 week low of Rs. 3333.00 on 24-Jan-2024. Last one week high and low of the scrip ...
Force Motors declines despite reporting marginal rise in total sales during November 2024
Force Motors declines despite reporting marginal rise in total sales during November 2024
Source: Accord Fintech
2024-12-05 03:02:35 pm
Kross rises on getting nod to acquire industrial land in Jharkhand Kross is currently trading at Rs. 235.35, up by 2.15 points or 0.92% from its previous closing of Rs. 233.20 on the BSE. The scrip opened at Rs. 235.80 and has touched a high and low of Rs. 239.15 and Rs. 234.05 respectively. So far 100420 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 271.00 on 16-Sep-2024 and a 52 week low of Rs. 158.30 on 28-Oct-2024. Last one week high and low of the scrip stood at Rs. 245....
Kross rises on getting nod to acquire industrial land in Jharkhand
Kross rises on getting nod to acquire industrial land in Jharkhand
Source: Accord Fintech
2024-12-05 01:44:16 pm
Monthly Auto Sales - November 2024 By ARETE Securities Ltd In November, the automotive market experienced mixed performances across various segments. The PV segment saw a 7% YoY increase but faced an 11% MoM decline, largely due to post-festive slowdowns and reduced dispatches. Tata Motors and M&M showed resilience, while Maruti Suzuki saw notable growth, especially in its Mid-Size segment. The CV segment struggled, with minimal YoY growth, though tractor and bus segment performed well. On the 2W front, while overall growth was modest at 2% YoY, ...
Monthly Auto Sales - November 2024 By ARETE Securities Ltd
Monthly Auto Sales - November 2024 By ARETE Securities Ltd
Source: ARETE Securities Ltd
2024-12-04 04:10:46 pm
Buy Pricol Ltd For Target Rs. 475 By Emkay Global Financial Services Ltd SAC plastic molding acquisition: Attractive valuation, balance sheet Pricol has entered into an agreement for acquiring the plastic injection molding business of Sundaram Auto Components (SAC; FY24 sales/PAT of Rs7.3bn/190mn; press release) on all-cash, debt-free basis at an attractive valuation of ~8x FY24 PER. SAC’s products cater to interior and exterior plastic parts for 2Ws, PVs, and CVs, with strong presence within TVSL (SAC is whollyowned subsidiary of TVSL; TVSL contributes ~...
Buy Pricol Ltd For Target Rs. 475 By Emkay Global Financial Services Ltd
Buy Pricol Ltd For Target Rs. 475 By Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services Ltd
2024-12-04 02:18:13 pm
Automobiles Sector Update : Nov-24 volumes: Strong festive retails; 2Ws outperform; tractors also strong By Emkay Global Financial Services Ltd Overall Nov-24 auto dispatches were fairly healthy, despite the high festive base (entire festive in Oct this year vs spread over Oct-Nov last year). For Nov-24, TVSL continued to outperform across the domestic and exports segments, followed by EIM (RE). HMCL dispatches were restricted due to inventory correction, even as underlying festive retail growth was strong at 12% YoY. In PVs, M&M wholesales grew 16%, with MSIL volume up 10%. MHCV dispatches are turning positive at TTMT and AL wit...
Automobiles Sector Update : Nov-24 volumes: Strong festive retails; 2Ws outperform; tractors also strong By Emkay Global Financial Services Ltd
Automobiles Sector Update : Nov-24 volumes: Strong festive retails; 2Ws outperform; tractors also strong By Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services Ltd
2024-12-04 02:02:36 pm
Automobiles Sector Update : 2Ws continue to outperform PVs By Motilal Oswal Financial Services Ltd HMSI continues to gain share in 2Ws; MM and Toyota outperform in PVs * We have analyzed the segmental volume data for Oct’24 and YTDFY25 for 2W/PV segments. 2W ICE segment continues to outperform, with 14.6% YoY growth in YTDFY25, compared with muted 0.6% YoY growth for PV segment. * Within 2Ws, the ICE scooter segment has posted 18.4% YoY growth YTD, the motorcycle segment has seen ~13% YoY growth. HMSI is the only player to gain market share in the 2W ICE segment in YTD (+ 320bp...
Automobiles Sector Update : 2Ws continue to outperform PVs By Motilal Oswal Financial Services Ltd
Automobiles Sector Update : 2Ws continue to outperform PVs By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-04 11:40:01 am
Buy Bharat Forge Ltd For Target Rs. 1700 By Motilal Oswal Financial Services Ltd Europe impacts Q2; order win momentum accelerating BHFC posted a soft Q2 with ~10%/13% miss on Consensus revenue/EBITDA (margin down by 50bps QoQ to 17.5%), impacted by weakness in Europe. Order-win momentum accelerated (Rs12bn in Q2; Rs9.8bn in Q1), led by Defence (orderbook of Rs59bn vs Rs54bn in Q1, ex domestic artillery gun order); but Europe remains weak for now. Mgmt expects the North American business to be strong this year as well as the next. We believe the domestic MHCV outlook i...
Buy Bharat Forge Ltd For Target Rs. 1700 By Motilal Oswal Financial Services Ltd
Buy Bharat Forge Ltd For Target Rs. 1700 By Motilal Oswal Financial Services Ltd
Source: Emkay Global Financial Services Ltd
2024-12-04 10:43:04 am
Buy Mahindra & Mahindra Ltd For Target Rs.3,325 By JM Financial Services Upping the ante with unveiling of Electric Origin SUVs M&M unveiled its Electric Origin SUVs, the BE 6e and XEV 9e, showcasing distinct designs under the "Heartcore Design" ethos. Both models are built on the scalable INGLO EV platform, powered by BYD’s blade cell technology and offering up to 682 km range with fast charging capabilities. Both these models are loaded with advanced tech (incl. AI) and offers hosts of modern and luxury features with an aim to set-up an in...
Buy Mahindra & Mahindra Ltd For Target Rs.3,325 By JM Financial Services
Buy Mahindra & Mahindra Ltd For Target Rs.3,325 By JM Financial Services
Source: JM Financial Services
2024-12-04 09:37:51 am
Buy Maruti Suzuki Ltd For Target Rs.14,586 By PL Capital Rise in input & promotional cost impact margins Quick Pointers: * CNG penetration remained stable at ~33% in Q2FY25 in the domestic market * Optimistic retail growth outlook at 4-5% for FY25   MSIL’s Q2FY25 standalone revenue increased by a mere 0.4% YoY, mainly driven by ASP expansion of 2.6% YoY as volume declined by 1.9% for the quarter. Prices of key commodities increased by and promotional expenses increased, leading to a contraction in its gross margin by 1...
Buy Maruti Suzuki Ltd For Target Rs.14,586 By PL Capital
Buy Maruti Suzuki Ltd For Target Rs.14,586 By PL Capital
Source: Prabhudas Lilladher Capital
2024-12-03 02:50:58 pm
Buy LTIMindtree Ltd For Target Rs.7,400 By Motilal Oswal Financial Services Ltd Investor Day 2024: Pivoting to AI for long term while demand dynamics looking favorable in short term too We attended LTIM’s Investor Day 2024, where the management spelt out its aspiration of achieving a revenue of USD10b and EBIT margin of 17-18% (the when and how of it were slightly vague, however). The management outlined its strategic vision and highlighted its capabilities in AI/GenAI. We believe LTIM's strengths in data engineering and ERP modernization position it well to...
Buy LTIMindtree Ltd For Target Rs.7,400 By Motilal Oswal Financial Services Ltd
Buy LTIMindtree Ltd For Target Rs.7,400 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-03 02:30:13 pm
Popular Vehicles jumps on getting nod to establish NEXA workshop in Kerala Popular Vehicles & Services is currently trading at Rs. 159.95, up by 3.65 points or 2.34% from its previous closing of Rs. 156.30 on the BSE. The scrip opened at Rs. 157.00 and has touched a high and low of Rs. 166.60 and Rs. 157.00 respectively. So far 15256 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 296.35 on 21-Mar-2024 and a 52 week low of Rs. 152.50 on 14-Nov-2024. Last one week high and low of th...
Popular Vehicles jumps on getting nod to establish NEXA workshop in Kerala
Popular Vehicles jumps on getting nod to establish NEXA workshop in Kerala
Source: Accord Fintech
2024-12-03 01:57:06 pm
Automobiles Sector Update : Dispatches plunge MoM as OEMs focus on stock mgmt By Motilal Oswal Financial Services Ltd Dispatches plunge MoM as OEMs focus on stock mgmt AL, BJAUT, and MM are yet to report wholesales. After strong festive salesin Oct’24 as both Dussehera and Diwali came in the same month, dispatches declined sharply MoM in Nov’24 across segments, in line with our expectation. In 2Ws, dispatches for RE/TVSL wholesales remained in line, while HMCL dispatches were below our estimates. In PVs, MSIL dispatches exceeded expectations, while HMIL/TTMT were in line. In CVs, TTMT dispatch...
Automobiles Sector Update : Dispatches plunge MoM as OEMs focus on stock mgmt By Motilal Oswal Financial Services Ltd
Automobiles Sector Update : Dispatches plunge MoM as OEMs focus on stock mgmt By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-03 01:51:11 pm
Buy CIE Automotive India Ltd For Target Rs.578 By Geojit Financial Services Ltd Steady margin expansion for long term. CIE Automotive India Ltd. (CIE) is the part of a Spain-based, top global forging player with a strong presence in both Europe & India. Currently, 60% of the revenue comes from India, while the rest is from Europe. • Despite a softened demand environment, the consolidated revenue declined by a marginal 2% YoY YTD. We believe the domestic demand will pick up in H2, owing to improvement in infra spending. • Q3CY24 revenue fell by -6.4...
Buy CIE Automotive India Ltd For Target Rs.578 By Geojit Financial Services Ltd
Buy CIE Automotive India Ltd For Target Rs.578 By Geojit Financial Services Ltd
Source: Geojit Financial Services
2024-12-03 12:57:19 pm
Buy Mahindra & Mahindra Ltd For Target Rs.3,632 by Yes Securities Ltd E SUVs – aspirational, disruptive yet affordable View – Continuing the ICE momentum of feature reach offerings M&M unveiled two born-electric SUVs (BE 6e and XEV9e) with an entry-level trims priced aggressive and are comparable to ICE models in the respective segments. As a result, we believe these launches will not only accelerate EV adoption in the PV but also can establish M&M as leading E PV brand. M&M’s indigenously designed INGLO platform is not only ...
Buy Mahindra & Mahindra Ltd For Target Rs.3,632 by Yes Securities Ltd
Buy Mahindra & Mahindra Ltd For Target Rs.3,632 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-12-03 12:24:28 pm
Sell Lumax Auto Technologies Ltd For Target Rs. 483 By Choice Broking Ltd In Q2 FY25, the company reported a revenue increase of 20.3% year-over-year (YoY) and 11.4% quarter-over-quarter (QoQ), reaching INR 8.42 billion, ahead of the expected INR 8.26 billion. This growth was attributed to the company's strategy of increasing content per vehicle, which boosted volumes and reflected robust demand. EBITDA came in at INR 1,022 million, marking a 13.4% YoY and 16.1% QoQ increase, slightly surpassing the estimate of INR 1,000 million. The EBITDA margin stood at 12.1...
Sell Lumax Auto Technologies Ltd For Target Rs. 483 By Choice Broking Ltd
Sell Lumax Auto Technologies Ltd For Target Rs. 483 By Choice Broking Ltd
Source: Motilal Oswal Financial Services
2024-12-03 12:14:04 pm
Sell Eicher Motors Ltd For Target Rs. 4,000 By Motilal Oswal Financial Services Ltd Margins under pressure despite improved mix Focus on growth over profitability clearly visible * Eicher Motors’ (EIM) 2QFY25 operating performance was below our est. as margins contracted 90bp YoY to 25.5% mainly due to higher other expenses (higher promotional spend and warehousing). While VECV outperformed industry growth, it seems to have come at the expense of margins (down 70bp YoY to 7.1%). Management has indicated that they would continue to focus on demand generation act...
Sell Eicher Motors Ltd For Target Rs. 4,000 By Motilal Oswal Financial Services Ltd
Sell Eicher Motors Ltd For Target Rs. 4,000 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-03 11:09:33 am
Neutral Bosch Ltd For Target Rs.34,280 By Motilal Oswal Financial Services Ltd Operational beat mainly led by improved mix Auto volumes likely to largely remain stable YoY in FY25E * Bosch’s (BOS) 2QFY25 performance beat our estimates owing to lower RM costs (led by lower traded goods) as BOS continued its efforts for the localization of components. Auto demand remains weak across its key segments, especially for CVs and PVs. While BOS continues to work toward the localization of new technologies, given the long gestation projects, its margin remains under pres...
Neutral Bosch Ltd For Target Rs.34,280 By Motilal Oswal Financial Services Ltd
Neutral Bosch Ltd For Target Rs.34,280 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-02 04:04:19 pm
Buy Samvardhana Motherson Ltd For Target Rs.210 By Motilal Oswal Financial Services Ltd Weak result; 2HFY25E to be better QIP proceeds utilized to pare down debt; preparing for opportunities * Samvardhana Motherson (MOTHERSO) reported muted results, with an EBITDA margin of 8.8%, down 80bp QoQ (vs. est. 9.4%), hit by global PV industry slowdown, slower EV ramp-up, and seasonal factors. Despite the global challenges and inflated working capital, the company’s RoCE for 1HFY25 stood at 17.3% (up from 16.9% in FY24). * To factor in the weak demand in key regions, we ...
Buy Samvardhana Motherson Ltd For Target Rs.210 By Motilal Oswal Financial Services Ltd
Buy Samvardhana Motherson Ltd For Target Rs.210 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-02 03:55:30 pm
Hyundai Motor India declines on registering 7% fall in total sales in November 2024 Hyundai Motor India is currently trading at Rs. 1881.05, down by 34.65 points or 1.81% from its previous closing of Rs. 1915.70 on the BSE. The scrip opened at Rs. 1870.05 and has touched a high and low of Rs. 1915.00 and Rs. 1870.05 respectively. So far 19395 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1968.80 on 22-Oct-2024 and a 52 week low of Rs. 1688.25 on 18-Nov-2024. Last one week high and low of the...
Hyundai Motor India declines on registering 7% fall in total sales in November 2024
Hyundai Motor India declines on registering 7% fall in total sales in November 2024
Source: Accord Fintech
2024-12-02 03:41:39 pm
Buy Hyundai Motor Ltd For Target Rs.2,235 By Motilal Oswal Financial Services Ltd Weak demand & high discounts dent 2Q performance  Well-positioned to benefit from the premiumization trend in India * Hyundai Motor (HMI)’s 2QFY25 performance was hit by ~9% YoY volume decline and higher discounts, leading to a 30bp YoY/70bp QoQ EBITDA margin contraction to 12.8%. While the PV industry’s demand remains moderate, we expect HMI to post steady growth given its favorable SUV mix and strong export opportunities going forward. * We broadly retain our F...
Buy Hyundai Motor Ltd For Target Rs.2,235 By Motilal Oswal Financial Services Ltd
Buy Hyundai Motor Ltd For Target Rs.2,235 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-02 03:38:41 pm
Escorts Kubota declines as its construction equipment segment reports 14% fall in November sales Escorts Kubota is currently trading at Rs. 3533.55, down by 21.65 points or 0.61% from its previous closing of Rs. 3555.20 on the BSE. The scrip opened at Rs. 3539.95 and has touched a high and low of Rs. 3558.85 and Rs. 3433.50 respectively. So far 18926 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4422.00 on 27-Sep-2024 and a 52 week low of Rs. 2647.45 on 09-Feb-2024. Last one week high and low of the scri...
Escorts Kubota declines as its construction equipment segment reports 14% fall in November sales
Escorts Kubota declines as its construction equipment segment reports 14% fall in November sales
Source: Accord Fintech
2024-12-02 02:37:37 pm
SSWL rises despite reporting marginal fall in net turnover in November 2024 Steel Strips Wheels is currently trading at Rs. 204.85, up by 1.85 points or 0.91% from its previous closing of Rs. 203.00 on the BSE. The scrip opened at Rs. 203.95 and has touched a high and low of Rs. 204.85 and Rs. 201.05 respectively. So far 5783 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 289.15 on 23-Jan-2024 and a 52 week low of Rs. 189.00 on 29-Oct-2024. Last one week high and low of the scrip stood...
SSWL rises despite reporting marginal fall in net turnover in November 2024
SSWL rises despite reporting marginal fall in net turnover in November 2024
Source: Accord Fintech
2024-12-02 01:42:53 pm
M&M gains as its Farm Equipment Sector reports 4% rise in November tractor sales Mahindra & Mahindra is currently trading at Rs. 2994.15, up by 25.20 points or 0.85% from its previous closing of Rs. 2968.95 on the BSE. The scrip opened at Rs. 3009.95 and has touched a high and low of Rs. 3009.95 and Rs. 2964.20 respectively. So far 53052 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 3221.10 on 27-Sep-2024 and a 52 week low of Rs. 1575.25 on 24-Jan-2024. Last one week high and low of th...
M&M gains as its Farm Equipment Sector reports 4% rise in November tractor sales
M&M gains as its Farm Equipment Sector reports 4% rise in November tractor sales
Source: Accord Fintech
2024-12-02 11:33:23 am
Tata Motors moves up on reporting marginal rise in total sales in November Tata Motors is currently trading at Rs. 791.15, up by 4.30 points or 0.55% from its previous closing of Rs. 786.85 on the BSE. The scrip opened at Rs. 787.35 and has touched a high and low of Rs. 796.50 and Rs. 785.00 respectively. So far 389777 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1179.05 on 30-Jul-2024 and a 52 week low of Rs. 695.90 on 21-Dec-2023. Last one week high and low of the scrip stood at R...
Tata Motors moves up on reporting marginal rise in total sales in November
Tata Motors moves up on reporting marginal rise in total sales in November
Source: Accord Fintech
2024-12-02 11:25:51 am
Maruti Suzuki India surges on reporting 10% rise in total sales in November Maruti Suzuki India is currently trading at Rs. 11271.20, up by 198.70 points or 1.79% from its previous closing of Rs. 11072.50 on the BSE. The scrip opened at Rs. 11105.05 and has touched a high and low of Rs. 11320.10 and Rs. 11105.05 respectively. So far 6405 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 13675.00 on 01-Aug-2024 and a 52 week low of Rs. 9738.40 on 18-Jan-2024. Last one week high and low of ...
Maruti Suzuki India surges on reporting 10% rise in total sales in November
Maruti Suzuki India surges on reporting 10% rise in total sales in November
Source: Accord Fintech
2024-12-02 11:03:33 am
Buy Hero MotoCorp Ltd For Target Rs.6,200 By Emkay Global Financial Services Rural demand to gather pace; risk-reward attractive HMCL reported a healthy quarter (~4% EBITDA beat), driven by increase in ASPs (up 4% QoQ) on better mix (higher spare sales), with underlying ICE margins expanding by 160bps YoY to 16.5% (stable QoQ). HMCL expects continued growth in the 2W industry with outperformance seen amid returning rural demand, ramp-up in 125cc motorcycles, and upcoming product actions across segments (multiple launches across ICE and EVs over the next 6 months). ...
Buy Hero MotoCorp Ltd For Target Rs.6,200 By Emkay Global Financial Services
Buy Hero MotoCorp Ltd For Target Rs.6,200 By Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-12-01 02:11:37 pm
Buy Ashok Leyland Ltd For Target Rs.255 By Motilal Oswal Financial Services Ltd Operationally in line; higher other income drives PAT beat Reiterates its target to achieve mid-teen EBITDA margin * Ashok Leyland's (AL) 2QFY25 results were operationally in line, reporting a robust margin of 11.6% (+100bp QoQ) despite weak demand. Margin was supported by lower steel prices (+50bp impact) and cost savings (+50bp). Management is optimistic about recovery in CV demand in 2H, driven by expected benefits of revival in Govt spending, healthy freight rates, and an extend...
Buy Ashok Leyland Ltd For Target Rs.255 By Motilal Oswal Financial Services Ltd
Buy Ashok Leyland Ltd For Target Rs.255 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-12-01 09:58:09 am
Neutral TATA Motors For Target Rs.840 By Motilal Oswal Financial Services Ltd Incremental headwinds emerge for JLR JLR likely to see persistent margin pressure ahead * Tata Motors (TTMT) reported a weak consolidated performance in 2QFY25, with margins contracting ~150bp YoY to 11.6% (est. 13.2%). This was mainly due to weaker volumes and high cost pressures for JLR, while India business remained resilient despite weak demand. * While management has maintained its guidance for JLR despite several headwinds, we believe margin pressure is likely to persist for JLR o...
Neutral TATA Motors For Target Rs.840 By Motilal Oswal Financial Services Ltd
Neutral TATA Motors For Target Rs.840 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services ltd
2024-11-30 09:18:06 am