Rubber News Specialist, Helixtap

Vinod Nedumudy

Rubber News Specialist

Global Commodities Alternative Data and Insights

Helixtap

Helixtap collects, processes and distributes proprietary data, analyses and forecasts for the rubber, latex and automotive markets

Commodities

<ul><li>Inventory levels come handy for JK Tyres to log best performance  </li><li>Tire majors involved in aggressive pricing amid NR price hike  </li><li>Export segments of Apollo, MRF, JK and CEAT fare well</li></ul>

Inventory levels come handy for JK Tyres to log best performance  Tire majors involved in aggressive pricing amid NR price hike  Export segments of Apollo, MRF, JK and CEAT fare well

Mixed Results For Indian Tire Majors In Q1 FY 2024 25

CEO, Helixtap

Farah Miller

<ul><li>MRF scripts 417% rise in profit YoY  </li><li>Apollo Tyres clocks 124% rise in profit YoY  </li><li>CEAT registers a whopping over 15 times increase in profit  </li><li>JK Tyre reports 352% rise in profits</li></ul>

MRF scripts 417% rise in profit YoY  Apollo Tyres clocks 124% rise in profit YoY  CEAT registers a whopping over 15 times increase in profit  JK Tyre reports 352% rise in profits

Indian Tire Majors Upbeat In Q1 FY 2024 On Domestic Push

<ul><li>JK Tyre completes first phase expansion at Banmore at INR 312 crore investment  </li><li>CEAT acquires 56.9% stake in online tire-trading firm Tyresnmore   </li><li>Apollo lines up INR 1,100 crore overall capex for India</li></ul>

JK Tyre completes first phase expansion at Banmore at INR 312 crore investment  CEAT acquires 56.9% stake in online tire-trading firm Tyresnmore   Apollo lines up INR 1,100 crore overall capex for India

Indian Tire Majors On Expansion, Consolidation Mode

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>After market close on Friday 20th May 2022, the constituency changes for S&amp;P BSE 100, SENSEX 50, and SENSEX Next 50 Indices were announced. </li>
<li>There will be no changes for S&amp;P BSE SENSEX and S&amp;P BSE BANKEX Indices in the June 2022 Rebalance. </li>
<li>These changes will become effective at the open of Monday 20th June 2022. Below is a closer look at each of the names involved in the June 2022 Rebalance.</li>
</ul>


After market close on Friday 20th May 2022, the constituency changes for S&amp;P BSE 100, SENSEX 50, and SENSEX Next 50 Indices were announced. 
There will be no changes for S&amp;P BSE SENSEX and S&amp;P BSE BANKEX Indices in the June 2022 Rebalance. 
These changes will become effective at the open of Monday 20th June 2022. Below is a closer look at each of the names involved in the June 2022 Rebalance.


S&P BSE Indices: No Changes for SENSEX; 7 ADDs/DELs for BSE 100 in June 2022

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

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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

<div><div><div><ul><li>Well-positioned to benefit from favourable industry dynamics - On the back of strong investments in R&amp;D and brand building and focus on ramping up distribution, especially in rural regions, Apollo has gained market share in key segments.</li></ul><div><div><div><ul><li>Europe restructuring boosts operating performance - In the last couple of years, management earmarked a massive restructuring in Europe, which included: (1) shifting tyre production from Netherlands to new plant in Hungary and the balance to India; (2) converting the Netherlands plant into a specialty plant for producing high-end tyres; (3) right-sizing the Netherlands plant by giving VRS to 2/3rd of the employees.</li></ul></div></div></div></div></div></div><div><div><div><ul><li>Initiate with an ADD and a target price of INR229/sh - Given a lean cost structure and its focus on sweating existing assets, we expect Apollo’s returns to improve from here on.</li></ul></div></div></div><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>

Well-positioned to benefit from favourable industry dynamics - On the back of strong investments in R&amp;D and brand building and focus on ramping up distribution, especially in rural regions, Apollo has gained market share in key segments.Europe restructuring boosts operating performance - In the last couple of years, management earmarked a massive restructuring in Europe, which included: (1) shifting tyre production from Netherlands to new plant in Hungary and the balance to India; (2) converting the Netherlands plant into a specialty plant for producing high-end tyres; (3) right-sizing the Netherlands plant by giving VRS to 2/3rd of the employees.Initiate with an ADD and a target price of INR229/sh - Given a lean cost structure and its focus on sweating existing assets, we expect Apollo’s returns to improve from here on.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.

Apollo Tyres (Initiating Coverage): Sharp Focus on Boosting Returns. ADD

India

Ceat Ltd. manufactures vehicle tires.  The Company produces cross-ply and radial tires for automobiles, construction equipment, scooters and motorcycles. Ceat also manufactures tubes and flaps.  The Company exports its products to many companies around the world.

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Ceat Ltd (CEAT IN)

Mixed Results For Indian Tire Majors In Q1 FY 2024 25

The first quarter of the new financial year (FY 2024–25) ended June 30, with two top Indian tire majors witnessing a decline in their profit year...

Helixtap

Indian Tire Majors Upbeat In Q1 FY 2024 On Domestic Push

Indian tire majors repeated the sterling performance in Q4 of FY 2023 in the Q1 of FY 2024 (April 2023-March 2024) too on the back of prolonging...

Helixtap

Indian Tire Majors On Expansion, Consolidation Mode

With JK Tyre completing the expansion of its radial tire manufacturing unit in Madhya Pradesh State, Apollo Tyres lining up INR 1100 crore for...

Helixtap

S&P BSE Indices: No Changes for SENSEX; 7 ADDs/DELs for BSE 100 in June 2022

S&P BSE Index changes for June 2022 were announced last week. No changes for SENSEX. 7 Adds/Deletes for BSE 100 including some negative and...

Janaghan Jeyakumar, CFA

Apollo Tyres (Initiating Coverage): Sharp Focus on Boosting Returns. ADD

Over the last few years, Apollo has invested in R&D, brand building, and expanding its distribution network. This has in turn led to market share...

HDFC Securities

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