In today’s briefing:
- India Channel Insight #28 | What Is the Two-Wheeler EV Scene in India?
- TCI Express: Ticking All the Right Boxes
- Pick of the Week: Infosys Ltd
- Will continue to stand tall despite the many challengers
- Underpenetrated market paving the way for growth
India Channel Insight #28 | What Is the Two-Wheeler EV Scene in India?
- We visit dealers of Honda Motor (7267 JP) , Hero Motocorp (HMCL IN) and TVS Motor (TVSL IN) to understand the current demand environment for Electric Vehicles(EV).
- High fuel prices and a very low base lead to high growth for EV OEMs
- Customers are waiting for launches from legacy players and a reduction in battery cost to decide the best alternative, but this is costing the overall 2W industry lower volumes.
TCI Express: Ticking All the Right Boxes
- We reiterate our Buy rating with a revised TP of INR2,130, implying a potential upside of 25%.
- TCIE is a well-established player in the Express Logistics segment, with a pan India presence and catering to 95% of pin codes.
- With a lease-based model for most of its required assets, TCIE enjoys greater operational flexibilities and generates a better return on assets
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Pick of the Week: Infosys Ltd
- Infosys is India’s second largest IT services exporter and has strong global presence.
- It provides industry wide solutions including next gen services like Cloud computing, digital transformations, IoT, Machine learning etc
- We recommend a Buy the stock for a target price of Rs 1895 implying an upside of 10% from CMP.
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Will continue to stand tall despite the many challengers
- Will continue to stand tall despite the many challengers Muthoot Finance (MUTH’) is our top pick for CY22 in the NBFC Lending space.
- Our investment idea is premised on our thesis of a structural opportunity in Gold lending as the market pie expands with customers evolving, taboo around Gold loans fading away, and apprehensions regarding Gold loans addressed through customer education.
- In this report, we list MUTH’s competitive strengths vis–vis its peers and some of the challengers like Fintech Gold loan NBFCs.
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Underpenetrated market paving the way for growth
- VBL has a diversified growth strategy, with multiple levers in place to drive its long-term growth.
- We expect volume growth momentum to continue, with: a gradual gain in market share on increasing penetration in underpenetrated markets, higher acceptance of recently launched products, and ramp-up of.
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