In today’s briefing:
- BYD (1211 HK) | Takeaways from India Showroom Visit | “Tata” Of China
- RPPL: Climbing Up the Value Chain | All Set for a Strong FY25
- Morning Views Asia: Azure Power Global Ltd, Powerlong Commercial Management Holdings
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BYD (1211 HK) | Takeaways from India Showroom Visit | “Tata” Of China
- We recently visited a BYD (1211 HK) showroom in Ahmedabad, with the objective of understanding the preference for Electric Vehicles in India.
- Pitched as the “Tata” of China, BYD offers 2 models ATTO 3 and e6 in India.
- Considering Tesla Motors (TSLA US) India interest, and Mahindra & Mahindra (MM IN) big bet on EV, BYD’s current operations in India seem to be minuscule and may find little success.
RPPL: Climbing Up the Value Chain | All Set for a Strong FY25
- RPPL reported decent Q2FY24 earnings, led by volume growth and margin expansion. Revenue growth was somewhat tepid due to decline in realization led by volatility in raw material prices.
- RPPL is seeing good traction in exports with improving mix of value-added products and enhanced geographic reach. Revenue from exports is guided to triple to INR 30cr+.
- RPPL has also entered into In-mold Labeling (IML) in rigid plastic injection molding products. This could be a game changer for RPPL in terms of growth and target market potential.
Morning Views Asia: Azure Power Global Ltd, Powerlong Commercial Management Holdings
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.