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.

Equity Bottom-Up

<div><div><div><div><ul><li>TVS Motor Company Ltd. (TVSL) is the 3rd largest 2-wheeler company in India with an annual sale of more than 30 Lc units and annual 2-wheeler (2W) and 3-wheeler (3W) capacity of over ~50 Lc and ~1.2 Lc respectively.</li><li>It manufactures the largest range of 2Ws including mopeds, scooters, commuter motorcycles, and premium bikes.</li><li>TVS is also India’s 2nd largest exporter with exports to over 60 Countries. </li></ul></div></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>

TVS Motor Company Ltd. (TVSL) is the 3rd largest 2-wheeler company in India with an annual sale of more than 30 Lc units and annual 2-wheeler (2W) and 3-wheeler (3W) capacity of over ~50 Lc and ~1.2 Lc respectively.It manufactures the largest range of 2Ws including mopeds, scooters, commuter motorcycles, and premium bikes.TVS is also India’s 2nd largest exporter with exports to over 60 Countries. 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.

Pick of the Week - TVS Motor Company Ltd - 05 JUNE 2023

Thematic (Sector/Industry)

<div><div><div><div><ul><li>May’23 Wholesale Volumes: Domestic 2W dispatches stood strong, PV up YoY (flat MoM) while CV/Tractor sales were mixed: The Domestic 2W industry reported strong growth of ~27% YoY (albeit on a low base), even with some recovery evident on an MoM basis (up 18% MoM).</li><li>2W exports remained weak YoY, but has improved MoM (Bajaj and TVS exports up by 6-7% MoM).</li><li>The domestic PV industry reported a robust 16% YoY growth (flat MoM) despite a few OEMs having reported production constraints (M&amp;M and Maruti pointed towards chip shortages).  </li></ul></div></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>

May’23 Wholesale Volumes: Domestic 2W dispatches stood strong, PV up YoY (flat MoM) while CV/Tractor sales were mixed: The Domestic 2W industry reported strong growth of ~27% YoY (albeit on a low base), even with some recovery evident on an MoM basis (up 18% MoM).2W exports remained weak YoY, but has improved MoM (Bajaj and TVS exports up by 6-7% MoM).The domestic PV industry reported a robust 16% YoY growth (flat MoM) despite a few OEMs having reported production constraints (M&amp;M and Maruti pointed towards chip shortages).  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.

Monthly Volume Update - Automotive Industry

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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.

<ul><li>Dabur: Dabur delivered consolidated revenue/domestic volume growth of 6/1% YoY vs the expectation of 7/1%</li><li>The domestic business grew by 4.7% while the international business posted a 1% growth (10% cc growth)</li><li>While primary sales were impacted by trade destocking, secondary sales grew in double digits</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>

Dabur: Dabur delivered consolidated revenue/domestic volume growth of 6/1% YoY vs the expectation of 7/1%The domestic business grew by 4.7% while the international business posted a 1% growth (10% cc growth)While primary sales were impacted by trade destocking, secondary sales grew in double digitsContent 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: Dabur, Tata Power, Cholamandalam Investment and Finance Company

<ul><li>TVS Motors Ltd (TVSL) reported a good set of numbers.</li><li>Revenue (inline) grew by 19%/1% YoY/QoQ led by higher ASP on account of price hikes taken in the quarter.</li><li>Despite a higher share of EVs and lower exports, EBITDA grew by 22%/3% YoY/QoQ beating ours and the street's estimates by 6% and 4% respectively.</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>

TVS Motors Ltd (TVSL) reported a good set of numbers.Revenue (inline) grew by 19%/1% YoY/QoQ led by higher ASP on account of price hikes taken in the quarter.Despite a higher share of EVs and lower exports, EBITDA grew by 22%/3% YoY/QoQ beating ours and the street's estimates by 6% and 4% respectively.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.

TVS Motors - Outpacing Peers in EV Product Portfolio Maintain BUY

India

TVS Motor Company Limited manufactures motorcycles, mopeds, and scooters. The Company provides spark ignition operated outboard motors, combustion spark ignition engines, critical engines, and transmission parts. TVS Motor Company serves customers in India.

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TVS Motor (TVSL IN)

Pick of the Week - TVS Motor Company Ltd - 05 JUNE 2023

TVS Motor Company Ltd. (TVSL) is the 3rd largest 2-wheeler company in India with an annual sale of more than 30 Lc units and annual 2-wheeler (2W)...

Axis Direct

Monthly Volume Update - Automotive Industry

The Domestic 2W industry reported strong growth of ~27% YoY (albeit on a low base), even with some recovery evident on an MoM basis (up 18% MoM).

Axis Direct

HSIE Results Daily: Dabur, Tata Power, Cholamandalam Investment and Finance Company

Dabur: Dabur delivered consolidated revenue/domestic volume growth of 6/1% YoY vs the expectation of 7/1%. The domestic business grew by 4.7%

HDFC Securities

HSIE Results Daily: Dabur, Tata Power

Dabur: Dabur delivered consolidated revenue/domestic volume growth of 6/1% YoY vs the expectation of 7/1%The domestic business grew by 4.7%

HDFC Securities

TVS Motors - Outpacing Peers in EV Product Portfolio Maintain BUY

TVS Motors Ltd (TVSL) reported a good set of numbers. Revenue (inline) grew by 19%/1% YoY/QoQ led by higher ASP on account of price hikes taken in...

Axis Direct

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