External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and 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.

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and 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

<p>EIM's beat in performance was driven by growth in RE realization and lower staff cost. With supply chain issues showing some signs of improvement, it expects volume performance to be better in 2HFY22. Export focus and revenue from accessories are helping RE improve its realization. We cut our FY22E consolidated EPS by 5% to account for lower volumes in FY22E, while maintaining our FY23E earnings estimates. We maintain our Buy rating with a TP of INR3,250/share (Mar'23E SoTP).</p><div class="content-highlight"><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></div>

EIM's beat in performance was driven by growth in RE realization and lower staff cost. With supply chain issues showing some signs of improvement, it expects volume performance to be better in 2HFY22. Export focus and revenue from accessories are helping RE improve its realization. We cut our FY22E consolidated EPS by 5% to account for lower volumes in FY22E, while maintaining our FY23E earnings estimates. We maintain our Buy rating with a TP of INR3,250/share (Mar'23E SoTP).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.

Above our estimate; beat driven by higher realization

Eicher Motors

Above our estimate; beat driven by higher realization