External broker reports(aggregated public sources), Axis Direct

Axis Direct

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.

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

Mahindra Cie Automotive / Equity Bottom-Up

<ul><li>CIEAUTO posted consolidated revenue of ~Rs 2,279 Cr in Q3CY23 (up 2.2% YoY but down 1.8% QoQ).</li><li>It missed our estimates by 5% due to weaker-than-expected revenue (i) In Europe (up ~6.5%YoY but down ~16% QoQ) led by continued slowdown in the EU and the US market.</li><li>(ii) In India (flat YoY but up ~7% QoQ) on account of slowdown in Tractor/2W segments and underperformance compared to &lt;6ton (PV+LCV) production volumes on a YoY/QoQ basis.</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>

CIEAUTO posted consolidated revenue of ~Rs 2,279 Cr in Q3CY23 (up 2.2% YoY but down 1.8% QoQ).It missed our estimates by 5% due to weaker-than-expected revenue (i) In Europe (up ~6.5%YoY but down ~16% QoQ) led by continued slowdown in the EU and the US market.(ii) In India (flat YoY but up ~7% QoQ) on account of slowdown in Tractor/2W segments and underperformance compared to &lt;6ton (PV+LCV) production volumes on a YoY/QoQ basis.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.

CIE Automotive India Ltd - Buoyant Indian Operations & Gradual Recovery In EU Expected.