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. 

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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

<ul><li>Eicher Motors Ltd (Eicher) reported a good set of numbers.</li><li>Standalone Revenue/EBITDA both grew by 5%/2% sequentially (56%/82% YoY).</li><li>Slight miss in topline against our estimate (2.5% miss) led by ASP, which stood below expectation (down 6% QoQ), due to the start of Hunter sales (lower price point) in product mix along with a lower share of exports (12% vs 16% in Q1FY23) in total 2W sales. </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>

Eicher Motors Ltd (Eicher) reported a good set of numbers.Standalone Revenue/EBITDA both grew by 5%/2% sequentially (56%/82% YoY).Slight miss in topline against our estimate (2.5% miss) led by ASP, which stood below expectation (down 6% QoQ), due to the start of Hunter sales (lower price point) in product mix along with a lower share of exports (12% vs 16% in Q1FY23) in total 2W sales. 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.

Eicher Motors - Encouraging Q2 Numbers; Maintain BUY