External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund 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>In the current fiscal, HMC’s motorcycle market share further slipped by 380 bps to 44.5%</li><li>This is despite its multiple launches in H1, which include Passion Plus, new Glamor, Xtreme160R 4V, X440, and Karizma</li><li>In the 125cc segment, it has consistently lost market share to rival launches since FY20, despite multiple attempts to regain share, and this fiscal has been no different</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.

In the current fiscal, HMC’s motorcycle market share further slipped by 380 bps to 44.5%This is despite its multiple launches in H1, which include Passion Plus, new Glamor, Xtreme160R 4V, X440, and KarizmaIn the 125cc segment, it has consistently lost market share to rival launches since FY20, despite multiple attempts to regain share, and this fiscal has been no differentContent 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.

Hero MotoCorp -  Fails to Recover Back Share Despite New Launches.

Hero MotoCorp: Fails to Recover Back Share Despite New Launches.

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.

Thematic (Sector/Industry)

<ul><li>The companies under our coverage reported Revenue/EBITDA/PAT growth of 11%/30%/28% YoY, surpassing expectations of 10%/24%/21%.</li><li>This performance was driven by higher ASPs, better sales volumes, the premiumization trend, cost optimization efforts, and operating leverage.</li><li>On a QoQ basis, aggregate Revenue/EBITDA/PAT declined by 4.5%/4.2%/2.2%, against expectations of ~6%/9%/7% declines due to seasonality. </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.

The companies under our coverage reported Revenue/EBITDA/PAT growth of 11%/30%/28% YoY, surpassing expectations of 10%/24%/21%.This performance was driven by higher ASPs, better sales volumes, the premiumization trend, cost optimization efforts, and operating leverage.On a QoQ basis, aggregate Revenue/EBITDA/PAT declined by 4.5%/4.2%/2.2%, against expectations of ~6%/9%/7% declines due to seasonality. 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.

Top Sector Ideas - Auto and Auto Ancillaries - (Q1FY25)

<ul><li>Hero Motocorp: Hero MotoCorp Q1 PAT at INR 11.2bn (+20% YoY) exceeded our estimate of INR 10.6bn, driven by a better product mix and cost control initiatives</li><li>It continues to focus on the 125cc segment, with capacity increased from 25k units per month to 40k per month to cater to the demand for Xtreme 125R</li><li>With better consumer sentiment aided by marriage dates and the onset of the festive season, a significant recovery is expected in the rural segment</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.

Hero Motocorp: Hero MotoCorp Q1 PAT at INR 11.2bn (+20% YoY) exceeded our estimate of INR 10.6bn, driven by a better product mix and cost control initiativesIt continues to focus on the 125cc segment, with capacity increased from 25k units per month to 40k per month to cater to the demand for Xtreme 125RWith better consumer sentiment aided by marriage dates and the onset of the festive season, a significant recovery is expected in the rural segmentContent 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.

HSIE Results Daily: Hero Motocorp, Apollo Hospitals Enterprise, FSN E-Commerce Ventures (Nykaa)

<ul><li>Our esteemed Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 today, marking the seventh consecutive budget under her leadership.</li><li>The Finance Minister has set the stage for "Viksit Bharat" through the comprehensive development of the Indian economy, emphasizing infrastructure enhancement, fiscal prudence, and welfare schemes for rural India.</li><li>The focus is on inclusive growth, highlighting four major pillars: Youth, Women, the Poor, and Farmers. </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.

Our esteemed Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 today, marking the seventh consecutive budget under her leadership.The Finance Minister has set the stage for "Viksit Bharat" through the comprehensive development of the Indian economy, emphasizing infrastructure enhancement, fiscal prudence, and welfare schemes for rural India.The focus is on inclusive growth, highlighting four major pillars: Youth, Women, the Poor, and Farmers. 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.

India

Hero MotoCorp Ltd. designs, manufactures and distributes motorcycles. The Company's products also include motorcycle parts and accessories.

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Hero Motocorp (HMCL IN)

Top Sector Ideas - Auto and Auto Ancillaries - (Q1FY25)

The companies under our coverage reported Revenue/EBITDA/PAT growth of 11%/30%/28% YoY, surpassing expectations of 10%/24%/21%.

Axis Direct

HSIE Results Daily: Hero Motocorp, Apollo Hospitals Enterprise, FSN E-Commerce Ventures (Nykaa)

Hero Motocorp: Hero MotoCorp Q1 PAT at INR 11.2bn (+20% YoY) exceeded our estimate of INR 10.6bn, driven by a better product mix and cost control...

HDFC Securities

Post Budget Analysis and Stock Ideas

Our esteemed Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 today, marking the seventh consecutive budget under her...

Axis Direct

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Hero MotoCorp - Fails to Recover Back Share Despite New Launches.

In the 125cc segment, it has consistently lost market share to rival launches since FY20, despite multiple attempts to regain share, and this...

HDFC Securities

Hero MotoCorp: Fails to Recover Back Share Despite New Launches.

In the 125cc segment, it has consistently lost market share to rival launches since FY20, despite multiple attempts to regain share, and this...

HDFC Securities

Top Sector Ideas - Auto and Auto Ancillaries - (Q1FY25)

The companies under our coverage reported Revenue/EBITDA/PAT growth of 11%/30%/28% YoY, surpassing expectations of 10%/24%/21%.

Axis Direct

HSIE Results Daily: Hero Motocorp, Apollo Hospitals Enterprise, FSN E-Commerce Ventures (Nykaa)

Hero Motocorp: Hero MotoCorp Q1 PAT at INR 11.2bn (+20% YoY) exceeded our estimate of INR 10.6bn, driven by a better product mix and cost control...

HDFC Securities

Post Budget Analysis and Stock Ideas

Our esteemed Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 today, marking the seventh consecutive budget under her...

Axis Direct