External broker reports(aggregated public sources), Axis Direct

Axis Direct

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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>Robust Demand Momentum: In Q2FY25, TVS Motor Co Ltd (TVS) saw two-wheeler (2W) domestic volumes grow by 15% YoY, outperforming the industry’s 11% YoY growth.</li><li>The 2W export volume also increased by 16% YoY. We anticipate TVS's total volumes to rise by 13% YoY in FY25E, driven by factors such as a favourable festive season, a recovery in rural demand (boosted by high water reservoir levels), and an expanded international presence in regions like the Middle East, LATAM, and ASEAN.</li><li>The African taxi market (particularly Nigeria), is expected to gradually rebound from the macroeconomic currency shocks experienced in earlier years</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>

Robust Demand Momentum: In Q2FY25, TVS Motor Co Ltd (TVS) saw two-wheeler (2W) domestic volumes grow by 15% YoY, outperforming the industry’s 11% YoY growth.The 2W export volume also increased by 16% YoY. We anticipate TVS's total volumes to rise by 13% YoY in FY25E, driven by factors such as a favourable festive season, a recovery in rural demand (boosted by high water reservoir levels), and an expanded international presence in regions like the Middle East, LATAM, and ASEAN.The African taxi market (particularly Nigeria), is expected to gradually rebound from the macroeconomic currency shocks experienced in earlier yearsContent 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.

TVS Motor Co Ltd - EBITDA/ PAT Miss Estimates; Rural and Exports Recovery Monitorable