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Company Update : Endurance Technologies Ltd - Motilal Oswal Financial Services In-line result; both India and the EU outperform the underlying industry * ENDU’s 2QFY25 consol. revenues grew 14% YoY to INR29.1b (in line). EBITDA rose 20% YoY to INR3.8b (in line), and adj. PAT was up 31% YoY at INR2b (in line). * Its 1HFY25 revenue/EBITDA/adj. PAT grew 15%/18%/28% YoY. India business: * Revenue grew 16.5% YoY to INR23b (inline) compared with underlying 2W industry production growth of ~10% YoY. There was an incentive of INR131m booked in 2...
Company Update : Endurance Technologies Ltd - Motilal Oswal Financial Services
Company Update : Endurance Technologies Ltd - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-11-21 03:30:40 pm
Hyundai Motor gains on signing Power Purchase agreements with FPEL TN Wind Farm Hyundai Motor is currently trading at Rs. 1856.00, up by 26.95 points or 1.47% from its previous closing of Rs. 1829.05 on the BSE. The scrip opened at Rs. 1793.25 and has touched a high and low of Rs. 1856.00 and Rs. 1788.45 respectively. So far 22432 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 scrip s...
Hyundai Motor gains on signing Power Purchase agreements with FPEL TN Wind Farm
Hyundai Motor gains on signing Power Purchase agreements with FPEL TN Wind Farm
Source: Accord Fintech
2024-11-21 11:02:32 am
Neutral Escorts Kubota Ltd For Target Rs. 3,693 by Yes Securities Ltd Growth outlook improving View – Recent stock correction yet not make risk reward favorable Escorts Kubota (ESCORTS) 2QFY25 results were weak led by first quarter of amalgamation of EKI and KAM. While CE/railways business performance was in-line, lower than expected margins in FES led EBITDA margins at 10.8% (flat YoY/ -240bp QoQ). Margins expansion for the merged entity to likely be gradual given full benefits of localization etc. to only kick-in over 2-3 years. However, improved ...
Neutral Escorts Kubota Ltd For Target Rs. 3,693 by Yes Securities Ltd
Neutral Escorts Kubota Ltd For Target Rs. 3,693 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-20 05:41:47 pm
India`s auto parts industry poised to cross $80 bn revenue in 2024-25 The revenue of India’s automotive components industry is expected to cross $80.1 billion in FY2025 while exports have already touched $21.2 billion, according to B2B risk management consultancy Rubix Data Sciences.  While the country’s production of automotive components has been growing at an 8 per cent compound annual growth rate (CAGR) since FY2020, exports have recorded a CAGR of 10 per cent during the same period, the report says. One of the standout trends is the ...
India`s auto parts industry poised to cross $80 bn revenue in 2024-25
India`s auto parts industry poised to cross $80 bn revenue in 2024-25
Source: IANS
2024-11-20 03:54:11 pm
Add Ashok Leyland Ltd For Target Rs. 256 by Yes Securities Ltd Positive MHCV outlook maintained for 2HFY25 Valuation and View – MHCV volume trajectory key to watch for AL’s 2QFY25 operating performance was slightly better as EBITDA margins came in at 11.6% (vs est 11.2%, cons 11.1%, +40bp/+100bp YoY/QoQ). This was led by better-than-expected gross margins as RM continues to be benign (+50bp impact) and cost control initiatives (+50bp impact). We believe, despite volumes trajectory likely to be uncertain (flat to mid-single digit growth)...
Add Ashok Leyland Ltd For Target Rs. 256 by Yes Securities Ltd
Add Ashok Leyland Ltd For Target Rs. 256 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-19 04:17:51 pm
Add Tata Motors Ltd For Target Rs. 948 by Yes Securities Ltd Macro challenges yet not over both at JLR&S/A View – Sharp stock correction still not make risk reward favorable! TTMT’s 2QFY25 consol results were operationally weaker than expected led by supply disruptions at JLR (~16k units) dragged consol EBITDA miss of ~17%/20% to our/street estimates. JLR EBITDAM contracted 320bp YoY (-410bp QoQ) at 11.7% (est 13.2%) more than negating better S/A margins delivery at 12.4% (est 12%, +50bp YoY). On the positive side, deleveraging is...
Add Tata Motors Ltd For Target Rs. 948 by Yes Securities Ltd
Add Tata Motors Ltd For Target Rs. 948 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-19 04:11:37 pm
Automobile Sector Update : Two wheelers to outperform, but growth set to moderate By Motilal Oswal Financial Services Ltd Two wheelers to outperform, but growth set to moderate 2Ws and tractors likely to report growth in retail; unlike CVs / PVs * We observed varied demand trends in Oct’24, with 2Ws and tractors showing positive momentum and PVs and CVs witnessing moderate demand. A better monsoon is helping drive positive sentiment in rural regions, though the sustainability of this demand remains to be seen. Overall, 2Ws performed better, with festive growth expected at 4-5% YoY, partially con...
Automobile Sector Update : Two wheelers to outperform, but growth set to moderate By Motilal Oswal Financial Services Ltd
Automobile Sector Update : Two wheelers to outperform, but growth set to moderate By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-19 02:14:31 pm
Reduce Hyundai Motor India Ltd For Target Rs.1,750 By Emkay Global Financial Services Hyundai Motor India (HMIL) logged a soft quarter, with revenue/EBITDA down 8%/10% YoY, respectively; EBITDA margin declined by 70bps QoQ to 12.8% on lower volumes and higher discounts. HMIL has guided to a low-single digit PV industry growth on a high base and a challenging demand scenario. HMIL has established a strong franchise in India; but lack of major launches (key growth driver historically in PVs) over the next 9-12M, muted ~5% capacity CAGR, higher royalty, and lower treasury income ...
Reduce Hyundai Motor India Ltd For Target Rs.1,750 By Emkay Global Financial Services
Reduce Hyundai Motor India Ltd For Target Rs.1,750 By Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-11-19 12:48:05 pm
Add Samvardhana Motherson International Ltd For Target Rs.190 By Emkay Global Financial Services SAMIL reported a soft Q2, with ~3%/14% EBITDA miss vs Consensus; margins declined by ~80bps QoQ to 8.6%. While the company continued to outperform global auto production on organic basis, outlook here is weakening/remains challenged across major markets. We believe premiumization-led growth in content per vehicle would continue for SAMIL, accompanied by a) better visibility in non-Autos (targets 25% sales contribution), particularly led by Consumer Electronics (SAMIL is undertaking Rs26bn cap...
Add Samvardhana Motherson International Ltd For Target Rs.190 By Emkay Global Financial Services
Add Samvardhana Motherson International Ltd For Target Rs.190 By Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-11-19 12:38:54 pm
Buy Hero MotoCorp Ltd For Target Rs. 5,377 by Yes Securities Ltd Underlying ICE margins continues to be healthy View – ICE margins to sustain while EVs ramp-up to continue HMCL’s 2QFY25 results were steady and in-line to our/street with EBITDA margins expanded 40bp YoY (+10bp QoQ) at 14.5%. This was constrained by EV (margin drag of ~200bp) as underlying ICE margins were healthy at 16.5% (vs 16.4% in 1Q, 15.6% in 4QFY24 and 14.5% in 1QFY24), supported by operating leverage, favorable mix, cost savings and price hikes. ~4.2% QoQ increase i...
Buy Hero MotoCorp Ltd For Target Rs. 5,377 by Yes Securities Ltd
Buy Hero MotoCorp Ltd For Target Rs. 5,377 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-19 12:17:08 pm
TVS Motor catches speed on introducing TVS Apache RTR 160 4V with new features, technology TVS Motor Company is currently trading at Rs. 2454.25, up by 40.75 points or 1.69% from its previous closing of Rs. 2413.50 on the BSE. The scrip opened at Rs. 2439.95 and has touched a high and low of Rs. 2457.45 and Rs. 2414.35 respectively. So far 2443 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. 1705.70 on 20-Nov-2023. Last one week high and low of the scrip...
TVS Motor catches speed on introducing TVS Apache RTR 160 4V with new features, technology
TVS Motor catches speed on introducing TVS Apache RTR 160 4V with new features, technology
Source: Accord Fintech
2024-11-19 11:40:04 am
Buy Fiem Industries Ltd For Target Rs. 1,791 By Choice Broking Ltd In Q2FY25, Fiem industry delivered a largely in line on revenue front and lower than on PAT front. Revenue during the quarter increased by 20.2% YoY/6.0% QoQ to Rs.6.12bn. EBIDTA stood at Rs.807mn (+18.6% YoY/+2.7% QoQ). vs est of Rs.811mn. Prudent cost control measures helped to achieve margin expansion of 78bps YoY to 13.6%. vs est of 13.8%. PAT for the quarter stood at Rs502mn (+15.4% YoY/+2.7% QoQ). Lighting segment's revenue jumped by 23.8% YoY to Rs. 4.5bn, and Plastic Moulded parts...
Buy Fiem Industries Ltd For Target Rs. 1,791 By Choice Broking Ltd
Buy Fiem Industries Ltd For Target Rs. 1,791 By Choice Broking Ltd
Source: Choice Broking
2024-11-19 11:08:09 am
Buy Hero MotoCorp Ltd For Target Rs. 5,314 By Choice Broking Ltd In Q2FY25, Hero MotoCorp reported an in-line performance on Revenue/EBIDTA/PAT front. Revenue for the quarter grew by 10.8% YoY to Rs.104.6bn. vs our estimates of Rs.101.9bn. The top line growth was attributed to recovery in the entry level and 125 CC segment. EBITDA for the quarter grew by 14.1% to Rs.15.16bn. vs est of Rs.14.88bn. Margin expanded by 43bps YoY/+10bps QoQ to 14.5%. EBIDTA/vehicle increased by 6.4% to Rs.9975/vehicle. RPAT for the quarter jumped by 14.2% YoY to Rs.12.04bn vs (...
Buy Hero MotoCorp Ltd For Target Rs. 5,314 By Choice Broking Ltd
Buy Hero MotoCorp Ltd For Target Rs. 5,314 By Choice Broking Ltd
Source: Choice Broking
2024-11-19 11:02:50 am
Buy Samvardhana Motherson International Ltd For Target Rs. 199 by Yes Securities Ltd View – Structurally well placed; Global LV production moderate further Samvardhana Motherson (MOTHERSON) 2QFY25 missed our/street EBITDA estimates by ~11%/14%, led by weak revenue print (~4% miss) due to moderating global LV demand coincided with low production activity due to summer holidays. Weak gross margins at 45.8% (est 46.4%-60bp QoQ) led consol margins at 8.8% (+40bp YoY/ -80bp QoQ, est 9.5%). Underlying revenue growth of ~18% YoY in 2QFY25 was led by combination of organic a...
Buy Samvardhana Motherson International Ltd For Target Rs. 199 by Yes Securities Ltd
Buy Samvardhana Motherson International Ltd For Target Rs. 199 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-19 10:26:37 am
India`s 2-wheeler retail sales to see 11-14 pc growth in FY25 There was a robust 14 per cent growth in two-wheeler retail sales during the festive season (October 3-November 13), aided by festive cheer and an improvement in rural demand, a report showed on Monday.   Credit rating ICRA has revised the outlook for the wholesale volume growth for the two-wheeler industry to 11-14 per cent in FY25, led by steady replacement demand and an improvement in rural demand on the back of a healthy monsoon precipitation. "Retail sales of passenger ve...
India`s 2-wheeler retail sales to see 11-14 pc growth in FY25
India`s 2-wheeler retail sales to see 11-14 pc growth in FY25
Source: IANS
2024-11-19 09:44:57 am
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 ...
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 Ltd
2024-11-19 09:28:54 am
Automobile retail sales grow 12% to 42.88 lakh units in festive period: FADA Federation of Automobile Dealers Associations (FADA) has said that automobile retail sales in India rose 12 per cent year-on-year to 42,88,248 units in the 42-day-long festive period this year. The overall automotive registrations in the festive period of the last year stood at 38,37,040 units. FADA said passenger vehicle retail increased by 7 per cent to 6,03,009 units in the festive period this year against 5,63,059 units in the same period last year. Two-wheeler registrations increased ...
Automobile retail sales grow 12% to 42.88 lakh units in festive period: FADA
Automobile retail sales grow 12% to 42.88 lakh units in festive period: FADA
Source: Accord Fintech
2024-11-18 12:59:31 pm
Buy Ashok Leyland Ltd For Target Rs.263 By LKP Securities Revenues grew 9% yoy (+2% qoq) at ~Rs.87.7b as ASP declined ~0.6% yoy/-1.9% qoq at ~Rs.1.92m/unit, while volumes declined by 8.5% yoy (+3.9% qoq) at 45.6k units. Decline in ASP is led by unfavorable mix even within M&HCV, while LCVs increased to 38.2%. AL’s Q2 FY25 operating performance was slightly better as EBITDA margins came in at 11.6%, +40bp/+100bp yoy/qoq). This was led by better than expected gross margins as RM continues to be benign and cost control initiatives. We believe...
Buy Ashok Leyland Ltd For Target Rs.263 By LKP Securities
Buy Ashok Leyland Ltd For Target Rs.263 By LKP Securities
Source: LKP Securities Ltd
2024-11-15 05:09:58 pm
Buy Mahindra & Mahindra Ltd For Target Rs.3,262 By LKP Securities M&M’s net revenues increased by 13% yoy, driven by (1) 1% yoy increase in volumes and (2) 12% yoy increase in ASPs. M&M’s standalone Q2 FY25 EBITDA of ?39.5 bn (+29% yoy and -2% qoq), was slightly below street estimates due to higher-than-expected other expenses, partly offset by better gross margins. EBITDA margin came in at 14.3% (+140 bps yoy and -60 bps qoq). Gross margins declined by 50 bps on a qoq basis owing to lower mix of the tractor segment. Other expenses grew ...
Buy Mahindra & Mahindra Ltd For Target Rs.3,262 By LKP Securities
Buy Mahindra & Mahindra Ltd For Target Rs.3,262 By LKP Securities
Source: LKP Securities Ltd
2024-11-15 05:05:01 pm
Buy Maruti Suzuki Ltd For Target Rs. 13,485 by Yes Securities Ltd Valuation and View – CNG to help drive industry outperformance MSIL’s 2QFY25 results were weak as it reported ~7%/6% EBITDA miss to our/street estimates led by weak gross margins at 28.1% (est 29.5%). Lower than expected EBITDA at Rs44.2b (est Rs47.8b) was led by; 1) ~70bp drag due to higher A&P, 2) ~50bp RM impact, 3) increased discounts (on wholesales) at ~Rs29.3k/unit (vs ~Rs21.7k/unit in 1QFY25) at ~4.3% of ASP. However, this was offset by 30-40bp positive operating lev...
Buy Maruti Suzuki Ltd For Target Rs. 13,485 by Yes Securities Ltd
Buy Maruti Suzuki Ltd For Target Rs. 13,485 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-15 12:56:43 pm
Buy Maruti Suzuki India Ltd For Target Rs. 12,215 By Choice Broking Ltd MSIL delivered better than expected performance on all fronts. Company delivered a 0.2% YoY growth on the top line front to Rs. 355.9 billion (vs CEBPL's estimated Rs.351.6bn) led by a 2.1% YoY increase in the average selling price (ASP) and a 1.9% YoY decrease in volume. YoY margin decline is attributed to higher RM cost. The operating margin declined on a yearly basis to 11.9% (vs CEBPL's est of 13.0%), showing a decline of 104bps YoY and - 80bps QoQ, resulting in EBITDA declining b...
Buy Maruti Suzuki India Ltd For Target Rs. 12,215 By Choice Broking Ltd
Buy Maruti Suzuki India Ltd For Target Rs. 12,215 By Choice Broking Ltd
Source: Choice Broking
2024-11-14 04:57:09 pm
Buy Eicher Motors (EIM) Ltd For Target Rs. 4,589 by Yes Securities Ltd Focus on volumes over margins accelerate Valuation and View – Volume trajectory to likely improve for near term     Eicher Motors (EIM) 2QFY25 consolidated results were operational weak with EBITA/margins miss of 4-6%/~70bp to our/street. This was led by lower-thanexpected margins in both standalone (led by lower ASP and inflated other expense) and VECV (weak margins). RE's margins expansion ahead will be guided by stable RM, higher share of non-motorcycle revenues,...
Buy Eicher Motors (EIM) Ltd For Target Rs. 4,589 by Yes Securities Ltd
Buy Eicher Motors (EIM) Ltd For Target Rs. 4,589 by Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-14 04:47:02 pm
Hyundai plans to make India a car production hub for emerging markets Hyundai Motor India (HMI), the country’s second largest carmaker, has drawn up ambitious expansion plans for making India a production hub that will also cater to the rising export demand for its vehicles in the emerging markets.  HMI Managing Director Unsoo Kim said in a conference call that the car major would be expanding production to meet the growing demand in the domestic market as well as the export market in Africa, the Middle East, Latin America and South Asia. "...
Hyundai plans to make India a car production hub for emerging markets
Hyundai plans to make India a car production hub for emerging markets
Source: IANS
2024-11-14 11:41:45 am
Auto exports set fresh high in South Korea on hybrid models South Korea's car exports rose 5.5 per cent on-year in October to reach a new record, data showed on Thursday, driven by the global popularity of eco-friendly models, including hybrid vehicles.  The combined value of vehicle shipments reached $6.2 billion last month, marking the highest amount for any October, according to data compiled by the Ministry of Trade, Industry and Energy, reports Yonhap news agency. The number of cars shipped totalled 243,367, up 8.1 per cent from a ...
Auto exports set fresh high in South Korea on hybrid models
Auto exports set fresh high in South Korea on hybrid models
Source: IANS
2024-11-14 09:49:43 am
2-wheeler sales surge to record high of 21.64 lakh units in India in Oct Total two-wheeler sales in the country surged by a robust 14.2 per cent to 21.64 lakh units in October this year, compared to 18.96 lakh units in October 2023, according to figures released by the Society of Indian Automobile Manufacturers (SIAM) on Wednesday.  Passenger vehicle sales, including cars and SUVs, also increased to their highest ever monthly level of 3.93 lakh units in October which represents a 0.9 per cent rise over a high base figure of 3.9 lakh units for October 2023....
2-wheeler sales surge to record high of 21.64 lakh units in India in Oct
2-wheeler sales surge to record high of 21.64 lakh units in India in Oct
Source: IANS
2024-11-13 05:29:33 pm
Tata Motors rides high on the bourses Tata Motors is currently trading at Rs. 786.80, up by 1.85 points or 0.24% from its previous closing of Rs. 784.95 on the BSE. The scrip opened at Rs. 785.80 and has touched a high and low of Rs. 792.60 and Rs. 775.45 respectively. So far 1288164 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. 656.65 on 15-Nov-2023. Last one week high and low of the scrip stood at ...
Tata Motors rides high on the bourses
Tata Motors rides high on the bourses
Source: Accord Fintech
2024-11-13 03:36:54 pm
Buy Mahindra & Mahindra Ltd For Target Rs.3,632 by Yes Securities Ltd Valuation and View – Healthy performance to continues M&M (MM) 2QFY25 operating performance was better as EBITDA margins expanded 150bp YoY (-50bp QoQ) at 14.3% (est 14.1%/ cons 13.8%). This was led by ~30bp expansion in Auto at 9.5% (despite price correction and Thar Roxx laucn) while FES margins expanded 150bp QoQ at 17.5% (benign RM, cost controls). MM indicated no impact on margins due to price cuts in XUV7OO. It maintained guidance of, 1) SUV - mid to high teens growth in FY...
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
2024-11-13 03:07:15 pm
Hyundai Motor India declines on reporting 16% fall in Q2 consolidated net profit Hyundai Motor India is currently trading at Rs. 1721.00, down by 83.45 points or 4.62% from its previous closing of Rs. 1804.45 on the BSE. The scrip opened at Rs. 1786.10 and has touched a high and low of Rs. 1794.45 and Rs. 1713.25 respectively. So far 92894 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. 1713.25 on 13-Nov-2024. Last one week high and low of the...
Hyundai Motor India declines on reporting 16% fall in Q2 consolidated net profit
Hyundai Motor India declines on reporting 16% fall in Q2 consolidated net profit
Source: Accord Fintech
2024-11-13 12:02:50 pm
Greaves Cotton declines despite its Q2 consolidated net loss narrows to Rs 14 crore Greaves Cotton is currently trading at Rs. 162.90, down by 16.05 points or 8.97% from its previous closing of Rs. 178.95 on the BSE. The scrip opened at Rs. 177.05 and has touched a high and low of Rs. 177.05 and Rs. 161.00 respectively. So far 101821 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 199.35 on 07-Nov-2024 and a 52 week low of Rs. 112.50 on 04-Jun-2024. Last one week high and low of the scrip stood...
Greaves Cotton declines despite its Q2 consolidated net loss narrows to Rs 14 crore
Greaves Cotton declines despite its Q2 consolidated net loss narrows to Rs 14 crore
Source: Accord Fintech
2024-11-13 11:33:07 am
Wardwizard Innovations moves up on dispatching Customized Electric Three-Wheeler to Philippines Wardwizard Innovations & Mobility is currently trading at Rs. 43.17, up by 0.63 points or 1.48% from its previous closing of Rs. 42.54 on the BSE. The scrip opened at Rs. 44.10 and has touched a high and low of Rs. 45.94 and Rs. 42.70 respectively. So far 284567 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 86.50 on 15-Jan-2024 and a 52 week low of Rs. 39.90 on 23-Oct-2024. Last one week high and low of th...
Wardwizard Innovations moves up on dispatching Customized Electric Three-Wheeler to Philippines
Wardwizard Innovations moves up on dispatching Customized Electric Three-Wheeler to Philippines
Source: Accord Fintech
2024-11-13 11:28:21 am
Buy Maruti Suzuki Ltd For Target Rs.13,875 By Motilal Oswal Financial Services Ltd Higher discounts impact operating performance Sustained demand revival remains the key * Maruti Suzuki India (MSIL)’s 2QFY25 margin was below our estimates, largely due to higher discounts. MSIL is expected to experience a 14% YoY growth starting from Shraddh till the end of the festive period. This is the first sign of demand revival in MSIL during this fiscal. Despite this, Apr-Oct retail growth remains at 3.9% YoY. * We have lowered our FY25E/FY26E EPS estimates by...
Buy Maruti Suzuki Ltd For Target Rs.13,875 By Motilal Oswal Financial Services Ltd
Buy Maruti Suzuki Ltd For Target Rs.13,875 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2024-11-13 10:31:24 am
Hyundai Motor India`s Q2 profit drops 16.5% on weak demand, Red Sea export disruptions Hyundai Motor India, the country's No.2 carmaker by market share, reported a 16.5% decline in quarterly profit due to lower domestic sales and as Red Sea disruptions hurt exports, its first earnings report since listing showed on Tuesday. The company's shares fell nearly 3% before recovering to trade down about 1% in late afternoon trading. Hyundai, which makes the 'Creta' SUV, said its standalone profit dropped to 13.38 billion rupees ($158.6 million) in the second quar...
Hyundai Motor India`s Q2 profit drops 16.5% on weak demand, Red Sea export disruptions
Hyundai Motor India`s Q2 profit drops 16.5% on weak demand, Red Sea export disruptions
Source: Reuters
2024-11-12 03:41:01 pm
Buy Ashok Leyland Ltd For Target Rs.264 By ARETE Securities Ltd In Q2 FY25, Ashok Leyland reported revenues of INR 8,769 crores, marking a 9% YoY decline primarily due to unfavourable weather impacts and sluggish government capital expenditure, which resulted in a 12% reduction in MHCV industry volumes. Nevertheless, the company registered a notable 37% rise in PAT to INR 770 crores, attributable to enhanced operational efficiencies and a strategic pivot towards high-margin non-CV segments. The EBITDA margin also improved to 12.9%, bolstered by cost-...
Buy Ashok Leyland Ltd For Target Rs.264 By ARETE Securities Ltd
Buy Ashok Leyland Ltd For Target Rs.264 By ARETE Securities Ltd
Source: ARETE Securities Ltd
2024-11-12 01:46:58 pm
Tata Motors surges despite reporting 10% fall in Q2 consolidated net profit Tata Motors is currently trading at Rs. 823.80, up by 18.10 points or 2.25% from its previous closing of Rs. 805.70 on the BSE. The scrip opened at Rs. 800.05 and has touched a high and low of Rs. 831.20 and Rs. 791.70 respectively. So far 1485326 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. 644.10 on 09-Nov-2023. Last one week high and low of the scrip stood at...
Tata Motors surges despite reporting 10% fall in Q2 consolidated net profit
Tata Motors surges despite reporting 10% fall in Q2 consolidated net profit
Source: Accord Fintech
2024-11-11 12:50:03 pm
Maruti Suzuki surges on inking pact with HSBC India Maruti Suzuki is currently trading at Rs. 11451.05, up by 143.80 points or 1.27% from its previous closing of Rs. 11307.25 on the BSE. The scrip opened at Rs. 11310.70 and has touched a high and low of Rs. 11474.60 and Rs. 11310.00 respectively. So far 766 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 the scr...
Maruti Suzuki surges on inking pact with HSBC India
Maruti Suzuki surges on inking pact with HSBC India
Source: Accord Fintech
2024-11-11 10:28:23 am
Buy Mahindra & Mahindra Ltd For Target Rs. 3,466 By Choice Broking Ltd In Q2FY25, M&M delivered a decent set of performance on a yearly basis backed by healthy growth in both the segments. Revenue for the quarter grew by 12.9% on YoY basis to Rs.275.5bn (vs CEBPL est. of Rs.273.7bn). Automotive business grew by 14.7% YoY to Rs.211bn and FES segment grew by 9.8% YoY to Rs.65bn. Margin during the quarter came at 14.2% (excluding investments from JV& Subsidiary) (+190bps YoY/-71bps QoQ) led by RM cost. EBITDA grew by (30.5% YoY/-2.9% QoQ) to Rs.39bn (vs CEB...
Buy Mahindra & Mahindra Ltd For Target Rs. 3,466 By Choice Broking Ltd
Buy Mahindra & Mahindra Ltd For Target Rs. 3,466 By Choice Broking Ltd
Source: Choice Broking Ltd
2024-11-10 12:02:54 pm
Buy TVS Motors Ltd For Target Rs. 2,759 By Choice Broking Ltd In Q2FY25, TVS Motors registered lower than expected performance on all fronts. Revenue for the quarter under review improved by 13.3% YoY basis to Rs.92.3bn (vs est. Rs.95.6bn) led by 14.3% YoY volume growth and 0.9% YoY de-growth in ASP. Operating profit jumped by 20% YoY to Rs.10.8bn vs est. of Rs.11.6bn and EBIDTA margin for the quarter expanded by 65 bps YoY/ 24bps QoQ to 11.7% vs est of 12.1%. Effort on reduction in RM to sales is commendable, despite increase in other expenditure and s...
Buy TVS Motors Ltd For Target Rs. 2,759 By Choice Broking Ltd
Buy TVS Motors Ltd For Target Rs. 2,759 By Choice Broking Ltd
Source: Choice Broking Ltd
2024-11-10 11:01:34 am
India`s Tata Motors posts surprise Q2 profit drop on weak sales India's Tata Motors reported a surprise drop in second-quarter profit on Friday, hurt by weakness in both domestic sales and its luxury vehicles unit. The company posted a profit of 33.43 billion rupees ($396.4 million) for the quarter ended Sept. 30, down 11% on-year. Analysts, on average, had expected a profit of 43.96 billion rupees, per data compiled by LSEG. Tata Motors is India's third-largest carmaker by volume, but relies on British luxury carmaking unit Jaguar Land R...
India`s Tata Motors posts surprise Q2 profit drop on weak sales
India`s Tata Motors posts surprise Q2 profit drop on weak sales
Source: Reuters
2024-11-08 04:52:29 pm
Indian e-scooter maker Ola Electric`s Q2 loss narrows as sales jump Ola Electric, India's top e-scooter maker, reported a narrower second-quarter loss on Friday, helped by a jump in sales and lower raw material costs. The Bengaluru-based company said its consolidated loss narrowed to 4.95 billion rupees ($58.7 million) in the July-September quarter from 5.24 billion rupees a year earlier. ($1 = 84.3410 Indian rupees)
Indian e-scooter maker Ola Electric`s Q2 loss narrows as sales jump
Indian e-scooter maker Ola Electric`s Q2 loss narrows as sales jump
Source: Reuters
2024-11-08 04:45:45 pm
Buy Mahindra & Mahindra Ltd For Target Rs. 3,325 By JM Financial Services Healthy Qtr; Tractors reviving; Auto momentum to moderate Mahindra & Mahindra (M&M) reported 2QFY25 EBITDA margin of 14.3% (+170bps YoY), slightly below JMFe. Festive retails (both Auto and Farm) grew in double-digits. And, the company has raised its FY25 domestic tractor industry vol. growth guidance to 6-7% (vs. 5% earlier). Rural sentiments have turned positive led by above-normal monsoon / reservoir levels. In the auto segment, gradual addition to SUV capacity and recent / new ...
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 Ltd
2024-11-08 03:53:09 pm
Neutral Sona BLW Precision Forgings Ltd For Target Rs. 682 By Yes Securities Ltd Business diversification continues View – Acquisition of EKL’s railway business to be long term positive Acquisition of EKL’s railway division (RED) was in-line with co’s mission to expand beyond auto into broader mobility space. The transaction is valued at 1.6x EV/sales (FY24) for a total cash consideration of Rs16b is attractive for a business with revenue and EBIT CAGR of ~16%/~15% over FY19-24 with EBIT margins of ~19% in FY24. Despite, RED is market leader ...
Neutral Sona BLW Precision Forgings Ltd For Target Rs. 682 By Yes Securities Ltd
Neutral Sona BLW Precision Forgings Ltd For Target Rs. 682 By Yes Securities Ltd
Source: Yes Securities Ltd.
2024-11-08 02:55:39 pm
India`s Ashok Leyland beats Q2 profit view as lower costs counter sluggish demand Indian truckmaker Ashok Leyland beat estimates for second-quarter profit on Friday, as lower costs more than offset the impact of tepid demand for its trucks and buses. The Hinduja Group company's profit rose 37.3% to 7.7 billion rupees ($91.3 million) for the three-month period ended Sept. 30, beating analysts' estimate of 5.66 billion rupees, as per data compiled by LSEG. Revenue from operations fell 9% to 87.69 billion rupees. The company's cost of materials and servic...
India`s Ashok Leyland beats Q2 profit view as lower costs counter sluggish demand
India`s Ashok Leyland beats Q2 profit view as lower costs counter sluggish demand
Source: Reuters
2024-11-08 02:15:41 pm
M&M gains on reporting 35% rise in consolidated net profit for Q2FY25 Mahindra & Mahindra is currently trading at Rs. 2903.70, up by 13.65 points or 0.47% from its previous closing of Rs. 2890.05 on the BSE. The scrip opened at Rs. 2923.95 and has touched a high and low of Rs. 2941.00 and Rs. 2850.70 respectively. So far 47059 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. 1,490.10 on 09-Nov-2023. Last one week high and low of t...
M&M gains on reporting 35% rise in consolidated net profit for Q2FY25
M&M gains on reporting 35% rise in consolidated net profit for Q2FY25
Source: Accord Fintech
2024-11-08 11:12:36 am
Mahindra clocks 13 pc jump in Q2 net profit as SUV, tractor sales surge Auto major Mahindra and Mahindra (M&M) on Thursday reported a 13 per cent rise in its standalone net profit for the July-September quarter at Rs 3,841 crore, driven by higher sales of SUVs and a revival in the demand for tractors.  M&M said its automobile segment, which produces the popular Thar and Scorpio SUVs, recorded the highest-ever quarterly volumes at 2,31,038 units in the quarter, up 9 per cent over the same period of the previous year. The company’s trac...
Mahindra clocks 13 pc jump in Q2 net profit as SUV, tractor sales surge
Mahindra clocks 13 pc jump in Q2 net profit as SUV, tractor sales surge
Source: IANS
2024-11-07 01:58:23 pm
IIndia's Mahindra & Mahindra posts surprise rise in Q2 profit on higher SUV sales Indian automaker Mahindra & Mahindra reported a surprise rise in second-quarter profit on Thursday, helped by higher sales of its sport utility vehicles (SUV) and a recovery in tractor demand. The 'Scorpio' SUV maker's standalone profit after tax rose 13.2% to 38.41 billion rupees ($455.4 million). Analysts had estimated profit would dip 1.7% to 33.92 billion rupees, per data compiled by LSEG. Its consolidated profit, which includes its IT, financial services, and holida...
IIndia's Mahindra & Mahindra posts surprise rise in Q2 profit on higher SUV sales
IIndia's Mahindra & Mahindra posts surprise rise in Q2 profit on higher SUV sales
Source: Reuters
2024-11-07 12:35:00 pm
Hyundai Motor pips Volkswagen to become world's 2nd-largest automaker Hyundai Motor Group has outperformed Volkswagen Group to become the world's second-largest automaker in terms of operating profit, industry data showed on Thursday.  According to automotive industry data, Hyundai Motor Group achieved sales of 69.4 trillion won ($49.6 billion) and an operating profit of 6.5 trillion won during the third quarter. For the period from January to September, the South Korean automaker's cumulative sales reached 208.9 trillion won, while operating...
Hyundai Motor pips Volkswagen to become world's 2nd-largest automaker
Hyundai Motor pips Volkswagen to become world's 2nd-largest automaker
Source: IANS
2024-11-07 10:28:50 am
Add TVS Motor Company Ltd For Target Rs. 3,030 By Yes Securities Ltd Margins resilient despite inflated staff exp Valuation and View – Yet to be accrued PLI benefits to support margins TVSL 2QFY25 results was mixed bag as ASP decline of 2.5% QoQ (-0.9% YoY) at Rs75.1k/unit (est Rs77.8k/unit) came in as surprise despite price hikes and favorable mix. This was led by launch of iQube 09 variant at lowered price point. However, margins continue to be resilient at 11.7% (+70bp YoY/ +20bp QoQ). Gross margin expanded ~250bp YoY (-10bp QoQ) at 28.5% partia...
Add TVS Motor Company Ltd For Target Rs. 3,030 By Yes Securities Ltd
Add TVS Motor Company Ltd For Target Rs. 3,030 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-11-06 06:00:50 pm
Sterling Tools climbs on entering into partnership with GLVAC YT Sterling Tools is currently trading at Rs. 552.90, up by 38.15 points or 7.41% from its previous closing of Rs. 514.75 on the BSE. The scrip opened at Rs. 518.45 and has touched a high and low of Rs. 564.85 and Rs. 516.25 respectively. So far 45653 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 639.15 on 20-Sep-2024 and a 52 week low of Rs. 305.00 on 28-Mar-2024. Last one week high and low of the scrip stood at...
Sterling Tools climbs on entering into partnership with GLVAC YT
Sterling Tools climbs on entering into partnership with GLVAC YT
Source: Accord Fintech
2024-11-06 04:12:37 pm