In today’s briefing:
- India Channel Insight #39 | Maruti, Hyundai
- India near Support and Bear Targets
- Orient Electric – Market Share in Odisha and Bihar Doubles Under Direct-To-Dealer Approach
- Tcs – Healthy Demand Environment; H1 Likely to See Usual Seasonality
India Channel Insight #39 | Maruti, Hyundai
- Maruti Suzuki India (MSIL IN) ‘s dealers are optimistic, expecting easing supply, new launches and the Maruti brand promise to drive back some of the lost market share.
- Kia Motors Corp (000270 KS) is gaining when it comes to fighting with its big brother Hyundai Motor Co (005380 KS).
- There is a set of customers that now prefers Indian brands giving a good tailwind for Tata Motors Ltd (TTMT IN) & Mahindra & Mahindra (MM IN).
India near Support and Bear Targets
- Nifty short bet from 16,750 is panning out. Gap lower and downside impulse calls for further weakness.
- India remains vulnerable to spill over from the global cycle after holding up over recent months. Any break below lower wedge line support would be a bigger negative structurally.
- Watch for bounce just under 15k near lower wedge support w RSI near 25. 15,800 fresh sell resistance stands out.
Orient Electric – Market Share in Odisha and Bihar Doubles Under Direct-To-Dealer Approach
- The management highlighted that demand has softened mainly on account of early onset of monsoon in South India and inflationary pressure on consumer spending.
- However, it expects the subdued trend to be transitory as Orient operates mainly in small-ticket items that are relatively less affected by an inflationary environment.
- The management had employed a Direct-to-Dealer approach vs the Master Distributor approach in Odisha and Bihar as it was unable to find strong master distributors in these states.
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Tcs – Healthy Demand Environment; H1 Likely to See Usual Seasonality
- Optimistic about sustaining revenue growth momentum in FY23: TCS has implemented a new organization structure to enhance its customer centricity in order to capture Horizon 2 and Horizon 3 demand and to drive sustained revenue growth.
- The new structure retains the atomicity of its earlier architecture, and its three dimensions – industry verticals, horizontal service lines and geography-based sales.
- TCS has now added a fourth dimension, the stage of the customer’s relationship journey with TCS, wherein it has rearranged existing units into three business groups, each aligned to a particular phase in the customer relationship journey
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