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>We expect the Q3FY23 earnings season is likely to be a mixed bag.</li><li>While the season will be led by sequential margin expansion driven by moderation in commodity prices and an uptick in credit growth, the export-oriented themes are likely to be laggards.</li><li>We believe the broad-based earnings momentum which remained robust for multiple quarters is likely to take a brief pause in Q3FY23. </li></ul><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>

We expect the Q3FY23 earnings season is likely to be a mixed bag.While the season will be led by sequential margin expansion driven by moderation in commodity prices and an uptick in credit growth, the export-oriented themes are likely to be laggards.We believe the broad-based earnings momentum which remained robust for multiple quarters is likely to take a brief pause in Q3FY23. 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.

<ul><li>In Q2FY23, wholesale volumes across PV/CV/2W (other than tractors) segments stood robust QoQ, led by inventory channel filling ahead of the festive demand.</li><li>The domestic wholesale volumes for SUVs in Passenger Vehicles (PV) (Maruti) and Premium motorcycles in 2W (Eicher) exhibited strong traction.</li><li>This was on account of the improvement in the supply-chain bottlenecks as well as due to shifting consumer preferences towards premium, feature-leaden, and technologically advanced product categories from the low-end segment.</li></ul><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>

In Q2FY23, wholesale volumes across PV/CV/2W (other than tractors) segments stood robust QoQ, led by inventory channel filling ahead of the festive demand.The domestic wholesale volumes for SUVs in Passenger Vehicles (PV) (Maruti) and Premium motorcycles in 2W (Eicher) exhibited strong traction.This was on account of the improvement in the supply-chain bottlenecks as well as due to shifting consumer preferences towards premium, feature-leaden, and technologically advanced product categories from the low-end segment.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 Q2fy23preview - Volume Growth & Operating Leverage to Drive Ebitda Growth

<div><div><div><div><ul><li>Q2FY23 marked a cool-off in the key commodity prices including the base metals and the crude oil as against the Q1FY23 period that witnessed elevated commodity prices, which had changed the inflation dynamics significantly.</li><li>To curb the prevailing inflation problem, all central banks including the RBI have adopted a path of aggressive policy tightening.</li><li>The RBI increased the repo rate by 50bps in Sep’22 MPC, marking a total policy rate hike of 190bps to 5.9%.</li></ul><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></div></div></div></div>

Q2FY23 marked a cool-off in the key commodity prices including the base metals and the crude oil as against the Q1FY23 period that witnessed elevated commodity prices, which had changed the inflation dynamics significantly.To curb the prevailing inflation problem, all central banks including the RBI have adopted a path of aggressive policy tightening.The RBI increased the repo rate by 50bps in Sep’22 MPC, marking a total policy rate hike of 190bps to 5.9%.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.

Q2fy23 Preview - Non-Commodities Likely to Do Better

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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>Minda Corporation (MCL) primarily serves auto OEMs across two main verticals – Mechatronics &amp; Aftermarket (i.e.</li><li>MCH – safety &amp; security system (lock &amp; key, smart key), die-casting, starter motors, etc.) and Information &amp; Connected Systems (i.e., ICS – mainly wiring harnesses, sensors and instrument clusters).</li><li>FY22 segment mix –2-W ~49%, CV ~19%, PV ~18%, Aftermarket ~15% • FY22 product mix – MCH ~57%, ICS ~43%</li></ul><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>

Minda Corporation (MCL) primarily serves auto OEMs across two main verticals – Mechatronics &amp; Aftermarket (i.e.MCH – safety &amp; security system (lock &amp; key, smart key), die-casting, starter motors, etc.) and Information &amp; Connected Systems (i.e., ICS – mainly wiring harnesses, sensors and instrument clusters).FY22 segment mix –2-W ~49%, CV ~19%, PV ~18%, Aftermarket ~15% • FY22 product mix – MCH ~57%, ICS ~43%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.

Minda Corporation | Minda Corporation (MCL) primarily serves auto OEMs across two main verticals ...

<div><ul><li>We interacted with the management of Minda Corporation (Minda Corp) to understand the company’s business strategy and growth prospects over the medium term.</li><li>Management highlighted that Minda is focussing on global trends which are currently shaping the auto ancillary space.</li><li>The global trends are driven by Connectivity, Autonomous, Shared Mobility and Electrification (CASE) and inline with these trends, Minda has identified its strategic pillars of growth.</li></ul></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>

We interacted with the management of Minda Corporation (Minda Corp) to understand the company’s business strategy and growth prospects over the medium term.Management highlighted that Minda is focussing on global trends which are currently shaping the auto ancillary space.The global trends are driven by Connectivity, Autonomous, Shared Mobility and Electrification (CASE) and inline with these trends, Minda has identified its strategic pillars of 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.

Minda Corporation Ltd - Preparing to Capture Future Growth

India

Minda Corporation Limited was founded in 1985. The Company's line of business includes the manufacturing of electrical equipment and supplies.

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Minda Corp Ltd (MDA IN)

Q3fy23 Preview: Margins Likely to Expand

We believe the broad-based earnings momentum which remained robust for multiple quarters is likely to take a brief pause in Q3FY23.

Axis Direct

Auto Q2fy23preview - Volume Growth & Operating Leverage to Drive Ebitda Growth

In Q2FY23, wholesale volumes across PV/CV/2W (other than tractors) segments stood robust QoQ, led by inventory channel filling ahead of the festive...

Axis Direct

Q2fy23 Preview - Non-Commodities Likely to Do Better

Q2FY23 marked a cool-off in the key commodity prices including the base metals and the crude oil as against the Q1FY23 period that witnessed...

Axis Direct

Minda Corporation | Minda Corporation (MCL) primarily serves auto OEMs across two main verticals ...

Minda Corporation (MCL) primarily serves auto OEMs across two main verticals – Mechatronics & Aftermarket (i.e. MCH – safety & security...

ICICI Securities Limited

Minda Corporation Ltd - Preparing to Capture Future Growth

We interacted with the management of Minda Corporation (Minda Corp) to understand the company’s business strategy and growth prospects over the...

Axis Direct

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