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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
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
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
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.
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).
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
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
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
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
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
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
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
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
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
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
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
BUSINESS
Motherson Sumi: Impressive set of numbers
What continues to work in favour of Motherson Sumi Systems is its strong order book
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
BUSINESS
Ashok Leyland: promising outlook, but valuations look elevated
Ashok Leyland expects EVs to form a large part of the business in coming years
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
BUSINESS
Festivity brings cheer to auto makers
Passenger cars and two-wheelers are cruising at a fast pace
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
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
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
