Moneycontrol

Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo

Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo

Nitin Agrawal

Senior Research Analyst

Moneycontrol Research

Bajaj Auto Q3 FY21: riding well on 2W demand recovery; long-term positive outlook

BUSINESS

Bajaj Auto Q3 FY21: riding well on 2W demand recovery; long-term positive outlook

Preference for personal mobility, festive season and recovery in export market led to a significant recovery in demand for two-wheelers. That's clearly visible in Bajaj Auto numbers

What’s the auto industry expecting from the Union Budget 2021

BUSINESS

What’s the auto industry expecting from the Union Budget 2021

Though the industry had not been given direct incentives in the last couple of Budgets, the government has provided indirect support by way of the Make in India initiative and focus on rural economy and infrastructure

Discovery Series: GNA Axles – A future-ready niche player with strong financials

BUSINESS

Discovery Series: GNA Axles – A future-ready niche player with strong financials

In terms of valuation, GNA is trading at 10 times FY21 projected earnings, which is very reasonable

Auto industry: ending the year on a high note!

BUSINESS

Auto industry: ending the year on a high note!

The recovery in automotobile was not restricted to the festive season. The demand momentum continued beyond the festive season as well. The wholesale data for the month of December corroborates the same.

Discovery Series: An auto-ancillary company for the long-term portfolio!

BUSINESS

Discovery Series: An auto-ancillary company for the long-term portfolio!

We have identified an auto-component maker with a proven track record of delivering strong financial performance, marquee clients in its kitty, strong presence in the automotive steel wheel rim industry with a large wallet share from leading original equipment manufacturers (OEMs).

Mahindra CIE: promising outlook, a long-term portfolio candidate

BUSINESS

Mahindra CIE: promising outlook, a long-term portfolio candidate

Mahindra CIE, an auto component manufacturer, has performed well in Q3 CY21 as there has been a sharp recovery in both India and Europe businesses. However, the prospects of it outperforming the industry make us upbeat about the company

Fiem: riding well on growth in the two-wheeler segment

BUSINESS

Fiem: riding well on growth in the two-wheeler segment

The wider adoption of light-emitting diode (LED) lights will play a critical role for Fiem Industries' growth

Battery manufacturers charging well on recovery in automobile segment

BUSINESS

Battery manufacturers charging well on recovery in automobile segment

Exide trailed Amara Raja Battery in Q2 numbers, but the recovery has been sharp post the pandemic

Gabriel – A good proxy to play growth in commuter segment

BUSINESS

Gabriel – A good proxy to play growth in commuter segment

The demand in PV and 2W segments has recovered sharply after lockdown restrictions were relaxed and Gabriel India is one of the key beneficiaries

Tyre stocks on fast track, which one to buy?

BUSINESS

Tyre stocks on fast track, which one to buy?

Tyre companies -- CEAT, Apollo Tyres and MRF -- saw a significant recovery in the second quarter of FY21, driven by a sharp rise in replacement demand

Lumax Industries to light up your portfolio

BUSINESS

Lumax Industries to light up your portfolio

Lumax Industries sees a huge potential in the LED segment as its penetration in India is still very low

Bit of an auto slowdown post festivities, but still cruising comfortably

BUSINESS

Bit of an auto slowdown post festivities, but still cruising comfortably

Auto sales numbers for November show commercial vehicle volumes have picked up pace, but three wheelers continue to face a bumpy road

Subros: bright outlook with attractive valuations

BUSINESS

Subros: bright outlook with attractive valuations

We have identified Subros as one of our picks from the auto ancillary space as there has been V-shaped recovery in PV segment

Endurance Tech: Riding on two-wheeler recovery; valuation at a discount

BUSINESS

Endurance Tech: Riding on two-wheeler recovery; valuation at a discount

We continue to remain upbeat on Endurance, primarily on the back of its significant presence in the high growth two-wheeler segment and a strong order book. Moreover, the company is trading at a discount to its 5-year average valuation

Strong recovery helped Eicher Motors – promising outlook

BUSINESS

Strong recovery helped Eicher Motors – promising outlook

Eicher Motors' bike and commercial vehicle segments witnessed a sharp improvement sequentially and are, in fact, catching up fast with last year’s numbers

Bharat Forge — Best avoided at this level of valuation

MONEYCONTROL-RESEARCH

Bharat Forge — Best avoided at this level of valuation

While the domestic demand outlook for Bharat Forge (BFL) is promising, weakness in the international markets is expected to remain in the near term. The BFL stock’s valuations are now elevated and we advise investors to avoid it until there is a significant improvement in demand

Motherson Sumi: Impressive set of numbers

BUSINESS

Motherson Sumi: Impressive set of numbers

What continues to work in favour of Motherson Sumi Systems is its strong order book

Impressive numbers from M&M: Farm equipment shines

BUSINESS

Impressive numbers from M&M: Farm equipment shines

M&M's strong leadership in farm equipment, positive rural sentiment and a slew of new launches in the auto segment make it a candidate for a long-term portfolio

Ashok Leyland: promising outlook, but valuations look elevated

BUSINESS

Ashok Leyland: promising outlook, but valuations look elevated

Ashok Leyland expects EVs to form a large part of the business in coming years

Minda Corp: strong Q2, attractive valuations

BUSINESS

Minda Corp: strong Q2, attractive valuations

A sharp recovery in the demand for passenger vehicles (PVs) and two-wheelers coupled with an increase in content per vehicle due to the BS VI emission norms make us upbeat about Minda Corp

Festivity brings cheer to auto makers

BUSINESS

Festivity brings cheer to auto makers

Passenger cars and two-wheelers are cruising at a fast pace

Escorts Q2 performance strong; valuations at fair level

BUSINESS

Escorts Q2 performance strong; valuations at fair level

Escorts continues to be in a sweet spot as it caters to rural areas where the buying sentiment is positive

IndiGo: Demand picking up but elevated valuation makes us wait

MONEYCONTROL-RESEARCH

IndiGo: Demand picking up but elevated valuation makes us wait

We advise investors to wait for the opening up of complete domestic and international routes before buying IndiGo

Hero MotoCorp: Cruising smoothly, buy for the long term

BUSINESS

Hero MotoCorp: Cruising smoothly, buy for the long term

Demand for Hero MotoCorp is expected to be on an upward trajectory on the back of changing customer preference towards personal mobility, positive rural sentiment and new product launches, especially in the premium segment

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