BUSINESS
Auto industry is driving along on a promising road
The highlights for the month are a strong demand recovery for commercial vehicles (CVs), a sharp uptick in export volumes and pickup in the demand for high-end passenger cars and two-wheelers.
BUSINESS
Endurance Tech: Stellar Q3 show, best proxy to play growth in 2W segment
Endurance Tech's robust quarterly numbers led by sharp recovery in India business; new products key growth triggers
AUTOMOBILE
Subros: Strong performance, available at attractive valuations
A sharp recovery in demand for passenger vehicles (PV) and commercial vehicles (CVs) coupled with the localisation effort to improve profitability make us upbeat about Subros
BUSINESS
Reliance Industries: On a four-lane superhighway
The proposed reorganisation of the O2C business adds to the prospect of raising growth capital, which in turn will serve as a catalyst for the legacy growth engine of RIL
BUSINESS
Minda Corp: Stellar Q3, promising outlook, available at attractive valuations
What is encouraging about Minda Corp is it continues to get new orders and that translates into earnings visibility
MONEYCONTROL-RESEARCH
Bharat Forge — Wait for correction to enter
While the domestic demand outlook for Bharat Forge is promising, weakness in international markets due to oil and gas is expected to remain in the near term. New focus areas, however, are expected to drive growth
BUSINESS
Motherson Sumi: Still good after the sharp rally?
BS-VI emission norms and the EV play provide a good opportunity for growth in revenues and a gradual increase in margins
BUSINESS
RailTel IPO – Are investors in the right network?
BUSINESS
Ashok Leyland riding well on economic recovery
The outlook for Ashok Leyland is promising as demand has picked up pace and is registering growth compared with pre-Covid levels. Further, its strong product portfolio and an increase in market share augur well
MONEYCONTROL-RESEARCH
Eicher Motors – Time to take the premium ride?
The company’s bike and commercial vehicle segments saw a sharp improvement over last year’s numbers. The result allays fear about disruption in premium consumption due to the pandemic.
BUSINESS
Farm equipment continues to boost M&M’s performance
M&M's strong leadership in farm equipment, positive rural sentiment and a slew of new products in the auto segment make it a candidate for the long-term portfolio
BUSINESS
Hero MotoCorp: Well positioned to cruise smoothly
Demand for Hero' MotoCorp's products is expected to be on an upward trajectory on the back of customer preference towards personal mobility, positive rural sentiment and new products, especially in the premium segment
BUSINESS
Airtel continues to shine, buy for long term
Buoyed by the rising work-from-home culture because of the pandemic, Airtel continued to enjoy handsome profitability in the quarter gone by
BUSINESS
Escorts firing on all cylinders; valuations at fair level
Escorts' strong position in the domestic market and new products make us confident about its business while its valuation is at a fair level
BUSINESS
Auto industry continues to cruise fast
The highlights for January are a strong demand recovery for commercial vehicles (CVs), a sharp uptick in export volume and an exceptional growth in the tractor segment
BUSINESS
Tata Motors: Both domestic and JLR businesses report stellar numbers in Q3 FY21
Though headwinds remain due to the new COVID variant, the Tata Motors management is confident of generating strong operating margins and cash flow in the next quarter
BUSINESS
Maruti: Raw material poses challenge, valuation premium warrants patience
The performance vectors for Maruti continue to improve post the pandemic-related disruption. Though the quarter under review recorded double-digit volume and revenue growth on a year-on-year (YoY) basis, the benefit of operating leverage could not percolate down to operating margins because of an adverse product mix and a rise in raw material prices.
BUSINESS
IndiGo: Strong recovery still far behind
Post unlocking of the economy, IndiGo posted a decent set of numbers. Though there has been a significant jump in financial performance on a sequential basis, it is still far behind last year’s numbers
BUSINESS
Strong digital contribution along with pick-up in legacy business boosts RIL bottom line
The key trend-setter remains the telecom business Reliance Jio, with performance driven by the tailwinds of the work from home culture, tariff hikes, traction in digital platform services and strong pick-up in JioGigaFiber services
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).
