A Study of Consumer's Perception Towards
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Automobile Industry Updates
India Automobile Industry Updates In this issue: Automobile Industry Updates Effect of Recession GM Files For Bankruptcy Issue No 3 Shifts reduced at Bridgestone factory. May 2009 Press Release Effects of Recession Car Exports Up 42% in May Nashik strike a setback for GM Files for Bankruptcy Mahindra's Xylo It was once an icon for industry. Monday, General Motors became the largest Nashik strike causes production losses of Rs manufacturing company in U.S. history and fourth largest company ever to file for 150 crore to Mahindra's bankruptcy protection. vendors Senior administration officials said the government will provide $30 billion in financing Tata, M&M, Maruti join hands for hybrid models to help the automaker through bankruptcy. Those same officials said the Canadian government would provide $9.5 billion. Global car cos to take Maruti's route JLR to get 'conditional' More support only: UK Govt Shifts reduced at Bridgestone factory Audi aims 55 pc growth this fiscal from India Bridgestone has cut three production shifts at its Salisbury factory as demand slumps Ashok Leyland, Nissan for its truck and trailer tyres. The company told workers this week it needed to reduce venture delayed 6 months inventory levels to match sales, which have fallen during the economic downturn. UK Govt-JLR talks back on Workers will be given other duties during the seven-week hiatus, which will cut truck track and bus tyre production by 20 hours a week. TVS can make, sell original Flame: HC More Tata Motors plans Rs 4,200 cr debenture issue: Crisil Press Release Ford to Make India Export Hub for Small Cars Car Exports Up 42% in May Exports of passenger cars from the country soared 41.64 per cent in May, mainly on Natural rubber imports might double the back of robust performance by Maruti Suzuki, although domestic sales increased by a meager 2.48 per cent. -
MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND
Institutional Equity Research NIFTY 15301 IN FOCUS May 27 2021 Support 15224 Stock in Focus BAJAJ FINANCE MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND EQUITY INDICES Indices Absolute Change Percentage Change Domestic Last Trade Change 1-D 1-Mth YTD BSE Sensex 51,018 380.0 0.8% 2.6% 6.8% CNX Nifty 15,301 93.0 0.6% 2.9% 9.4% S&P CNX 500 13,022 59.2 0.5% 4.0% 13.1% SENSEX 50 16,024 99.0 0.6% 3.0% 9.5% International Last Trade Change 1-D 1-Mth YTD DJIA 34,323 10.6 0.0% 1.5% 12.1% NASDAQ 13,738 80.8 0.6% (2.2%) 6.6% NIKKEI 28,469 (173.2) (0.6%) (2.0%) 3.7% HANGSENG 29,177 20.9 0.1% 0.4% 7.2% ADRs / GDRs Last Trade Change 1-D 1-Mth YTD Dr. Reddy’s Lab (ADR) 72.0 (0.8) (1.1%) 5.8% 1.0% STOCK IN FOCUS Tata Motors (ADR) 21.8 0.4 1.8% 6.5% 72.7% f BAF is focused on the mass-affluent segment. Additionally, it Infosys (ADR) 19.3 0.5 2.8% 5.7% 13.6% ICICI Bank (ADR) 18.0 0.3 1.7% 7.2% 20.9% enjoys significant pricing power in its shorter-tenor and small-ticket HDFC Bank (ADR) 74.0 1.0 1.3% (0.4%) 2.4% unsecured loans, as the change in EMI (for each percentage point Axis Bank (GDR) 50.6 0.4 0.8% 7.6% 19.6% increase in interest rate) is lower for the short-tenor small-ticket loans. -
Motherson Sumi Systems (MSS IN)
Motherson Sumi Systems (MSS IN) Rating: BUY | CMP: Rs62 | TP: Rs115 March 18, 2020 Shutdown in Europe while China resumed – Upgrade to BUY Company Update Quick Pointers: ☑ Change in Estimates | ☑ Target | ☑ Reco . MSS hosted a call where it indicated production shutdown in Europe for 15 Change in Estimates days while China has resumed considerably. Current Previous FY21E FY22E FY21E FY22E Rating BUY ACCUMULATE . With ~37% of SMRP BV revenues contribution consisting from European Target Price 115 153 Sales (Rs. m) 722,331 811,681 750,749 845,246 markets, where we see transitionary issues to persist at-least over 1QFY21. % Chng. (3.8) (4.0) EBITDA (Rs. m) 59,306 74,158 69,071 80,291 We cut FY20/21/22 EPS estimates by 8%/18%/11% to factor in for production % Chng. (14.1) (7.6) EPS (Rs.) 5.5 7.2 6.7 8.1 shut down in China and Europe due to COVID-19. ~37% of SMRP BV revenues % Chng. (18.7) (11.0) consisting from European markets, where we see transitionary issues to persist at-least over 1QFY21. However, on the positive side, operations in Key Financials - Consolidated China have recovered substantially with ~26 plants is now operational out of Y/e Mar FY19 FY20E FY21E FY22E total 27. Whereas other key markets like US, South America and UK hasn’t Sales (Rs. bn) 635 662 722 812 EBITDA (Rs. bn) 53 52 59 74 seen any shutdowns so-far. We believe, significant correction presents an Margin (%) 8.4 7.8 8.2 9.1 opportunity to buy this stock at an attractive valuation at 11x FY21 estimates. -
Dashboard the Monthly Auto Update
June 2014 Dashboard The Monthly Auto Update Data Track: June 2014 volume update of auto majors Speedometer Sector overview and outlook ........................................................... 2 June 2014 relative performance Hero MotoCorp ................................................................................. 3 Bajaj Auto .......................................................................................... 4 HMSI .................................................................................................. 6 TVS Motor .......................................................................................... 7 Maruti Suzuki .................................................................................... 9 Mahindra & Mahindra ..................................................................... 11 Tata Motors ...................................................................................... 13 Ashok Leyland ................................................................................. 15 Eicher Motors .................................................................................. 16 Sector Gauge: May 2014 update 12-month relative performance Two-wheelers ................................................................................. 17 Three-wheelers .............................................................................. 19 Cars and UVs .................................................................................... 21 Commercial vehicles...................................................................... -
Model Portfolio Update
Model Portfolio update January 21, 2016 LatestDeal Team Model – PortfolioAt Your Service Large cap Midcap Name of the company Weightage(%) Name of the company Weightage(%) Auto 14 Aviation 6 Tata Motor DVR 4 Interglobe Aviation 6 Bosch 3 Auto 6 Maruti 4 Bharat Forge 6 EICHER Motors 3 BFSI 6 BFSI 23 BjjFiBajaj Finserve 6 HDFC Bank 8 Capital Goods 6 Axis Bank 3 HDFC 8 Bharat Electronics 6 Bajaj Finance 4 Cement 6 Capital Goods 5 Ramco Cement 6 L & T 5 Consumer 24 Cement 3 Symphony 6 UltraTech Cement 3 Supreme Ind 6 FMCG/Consumer 14 Kansai Nerolac 6 ITC 7 Pidilite 6 United Spirits 2 FMCG 8 Asian Paints 5 Nestle 8 IT 21 Infrastructure 8 Infosys 10 NBCC 8 TCS 8 Oil & Gas 6 Wipro 3 Meida 2 CtlCastrol 6 Zee Entertainment 2 Logistics 6 Metal 2 Container Corporation of India 6 Tata Steel 2 Pharma 12 Oil & Gas 4 Natco Pharma 6 Reliance Industries 4 Torrent Pharma 6 Pharma 12 Textile 6 Lupin 5 Arvind 6 Dr Reddys 4 Total 100 Aurobindo Pharma 3 Total 100 • Exclusion - Eicher Motors, Bajaj Finance (transferred to large cap), PVR, • Exclusion- State Bank of India, Bharti Airtel and ONGC CARE, Cummins & Shree Cement • Inclusion – Eicher Motors, Bajaj Finance (transferred from midcap), Wipro, • Inclusion – Ramco Cement, Bajaj Finserv, Supreme Industries, Indigo, Reliance Industries & Aurobindo Pharma Pidilite, Bharat Electronics and Bharat Forge Source: Bloomberg, ICICIdirect.com Research *Diversified portfolio - Combination of 70% large cap and 30% midcap portfolio OutperformanceDeal Team – At continues Your Service across all portfolios… • Our indicative large cap equity model portfolio (“Quality -20”) has • In the large cap space we continue to remain positive on pharma & IT. -
Flag Bearer of the Recovery in Automotive Segment
Sector Report 2 Wheelers 28th August, 2020 Auto 2 Wheelers in a sweet spot – Flag bearer of the recovery in Automotive Segment Indian two-wheelers faced a severe downturn in FY20 and are expected to fall further in FY21 due to COVID-19 and BSVI cost push; however, volumes should rebound by FY22E and FY23E on two years of low base. In light of COVID-19 pandemic, we expect the industry volumes to fall by ~12% in FY21E, followed by strong growth of ~18% and ~14% in FY22E and FY23E. We are bullish on the Indian 2W industry over the next 2-3 years. The auto volumes are back by almost adecade whereas the margins are at cyclical lows; we expect multi-fold earnings growth in the recovery period. We believe Hero Motocorp Ltd will outperform its peers on the back of strong rural demand and preference for entry-level motorcycles. Eicher Motors with its strong franchise and a renewed focus on new products is expected to do well. We are of the opinion that TVS Motors is trading at significantly higher multiples in comparison to other 2 wheeler OEMs and hence we expect limited upside from current levels. We assume coverage on the two-wheeler industry with a BUY rating on Hero Motocorp Ltd (Hero), HOLD rating on Eicher Motors Ltd (EIM) and a SELL rating on TVS Motors Ltd (TVSL). We upgrade our rating from HOLD to BUY on Bajaj Auto Ltd (BJAUT). Covid-19 and Key Regulatory Changes amidst weak cycle India's two-wheeler (2W) industry saw its worst downturn in a decade as volumes fell by 18% YoY in FY20 amid weakening economy and regulatory changes leading to higher insurance and road tax. -
“Sequential Recovery Witnessed in Passenger Vehicles & 2-Wheeler Segment” Auto Sector: Focus Stocks
“Sequential Recovery Witnessed in Passenger vehicles & 2-Wheeler segment” Auto Sector: Focus Stocks Maruti Suzuki/Tata Motors/ Bajaj Auto/Eicher Motors Q1FY21 Post Earnings Review 18th August 2020 Table of Contents 1 Q1FY21 Earnings Summary – Key Takeaways 4 2 Earnings Review: Result Summary 5 - 8 3 Valuation Snapshot 9 - 12 4 Performance Overview 13 - 17 KRChoksey Research ANALYST Phone: +91-22-6696 5555, Fax: +91-22-6691 9576 is also available on Bloomberg KRCS<GO> www.krchoksey.com Parvati Rai, [email protected], +91-22-6696 5413 Thomson Reuters, Factset and Capital IQ Coverage Companies Passenger Vehicles • Maruti Suzuki Ltd • Tata Motors Ltd 2/3-Wheelers • Bajaj Auto Ltd • Eicher Motors Ltd KRChoksey Research ANALYST Phone: +91-22-6696 5555, Fax: +91-22-6691 9576 is also available on Bloomberg KRCS<GO> www.krchoksey.com Parvati Rai, [email protected], +91-22-6696 5413 Thomson Reuters, Factset and Capital IQ Q1FY21 Earnings Outlook – Key Takeaways Passenger & 2-Wheelers segment show recovery; Upcoming festive season & Rural market to drive demand Green-Shoots in Passenger vehicles and Two-Wheelers, while Commercial Vehicle remains challenging • As per SIAM, In July-20, Industry Passenger Vehicle (PV) sales declined by 3.9% YoY at 182,779 units while 2-Wheelers (2-W) registered a decline of 15.2% YoY which was significantly better than preceding months wherein in Q1FY21, PV sales were down 63% YoY while that of 2-W were down by 60.5% YoY • CV segment performance will remain challenging due to high axle norms, delayed -
Fuel Consumption from Light Commercial Vehicles in India, Fiscal Year 2018–19
WORKING PAPER 2021-02 © 2021 INTERNATIONAL COUNCIL ON CLEAN TRANSPORTATION JANUARY 2021 Fuel consumption from light commercial vehicles in India, fiscal year 2018–19 Author: Ashok Deo Keywords: CO2 standards, fleet average fuel consumption, mini truck, pickup truck, greenhouse gas emissions Introduction This paper examines the fuel consumption of new light commercial vehicles (LCVs) sold in India in fiscal year (FY) 2018–19. These vehicles are the N1 segment in India, and passenger vehicles are the M1 category.1 LCVs in India are not yet subject to any carbon dioxide (CO2) emission standards, even though such standards apply to passenger cars and have proven effective in driving down test-cycle emission levels of new vehicles. This work establishes a baseline of fuel consumption for the N1 segment in India, to help regulators develop an effective CO2/fuel consumption standard. Additionally, we compare the N1 fleets for FY 2014–15, FY 2017–18, and FY 2018–19, understand the characteristics of the mini truck and pickup segments within the N1 category, and compare the performance of major LCV manufacturers in India in terms of fleet average fuel consumption. Finally, we assess the performance of India’s LCV fleet against the LCV fleet in the European Union, considering the differences in the curb weight and size of the vehicles, and examine the performance of LCV manufacturers if a star labeling standard or passenger car fuel consumption standards were to be applied. Background LCVs are used in India as “last-mile” connectivity to move goods to their final destination. The light-duty vehicle market was approximately 87% passenger cars and 13% LCVs in FY 2018 –19.2 This study focuses on India’s LCVs, which are bifurcated into two segments by the Society of Indian Automobile Manufacturers (SIAM), as shown in www.theicct.org Table 1. -
List of Nodal Officer
List of Nodal Officer Designa S.No tion of Phone (With Company Name EMAIL_ID_COMPANY FIRST_NAME MIDDLE_NAME LAST_NAME Line I Line II CITY PIN Code EMAIL_ID . Nodal STD/ISD) Officer 1 VIPUL LIMITED [email protected] PUNIT BERIWALA DIRT Vipul TechSquare, Golf Course Road, Sector-43, Gurgaon 122009 01244065500 [email protected] 2 ORIENT PAPER AND INDUSTRIES LTD. [email protected] RAM PRASAD DUTTA CSEC BIRLA BUILDING, 9TH FLOOR, 9/1, R. N. MUKHERJEE ROAD KOLKATA 700001 03340823700 [email protected] COAL INDIA LIMITED, Coal Bhawan, AF-III, 3rd Floor CORE-2,Action Area-1A, 3 COAL INDIA LTD GOVT OF INDIA UNDERTAKING [email protected] MAHADEVAN VISWANATHAN CSEC Rajarhat, Kolkata 700156 03323246526 [email protected] PREMISES NO-04-MAR New Town, MULTI COMMODITY EXCHANGE OF INDIA Exchange Square, Suren Road, 4 [email protected] AJAY PURI CSEC Multi Commodity Exchange of India Limited Mumbai 400093 0226718888 [email protected] LIMITED Chakala, Andheri (East), 5 ECOPLAST LIMITED [email protected] Antony Pius Alapat CSEC Ecoplast Ltd.,4 Magan Mahal 215, Sir M.V. Road, Andheri (E) Mumbai 400069 02226833452 [email protected] 6 ECOPLAST LIMITED [email protected] Antony Pius Alapat CSEC Ecoplast Ltd.,4 Magan Mahal 215, Sir M.V. Road, Andheri (E) Mumbai 400069 02226833452 [email protected] 7 NECTAR LIFE SCIENCES LIMITED [email protected] SUKRITI SAINI CSEC NECTAR LIFESCIENCES LIMITED SCO 38-39, SECTOR 9-D CHANDIGARH 160009 01723047759 [email protected] 8 ECOPLAST LIMITED [email protected] Antony Pius Alapat CSEC Ecoplast Ltd.,4 Magan Mahal 215, Sir M.V. Road, Andheri (E) Mumbai 400069 02226833452 [email protected] 9 SMIFS CAPITAL MARKETS LTD. -
Eicher Motors Limited
1 Eicher Motors Limited All successful investors have one thing in common. They are passionate in reading the annual reports of several businesses including the ones they don’t want to invest in the near future. Consider the case of Warren Buffett, who was reading the annual reports of IBM and Bank of America for 50 years before buying a single share. Why would anyone do that? I was reflecting on this question for a very long time. I got this question answered while reading the fantastic book Curious authored by Ian Leslie. Read, reread, and reflect on what Ian wrote. Creativity starts in combination. Scottish Enlightenment philosopher David Hume pointed out that there is nothing particularly interesting about the idea of gold or about the idea of a mountain. But a gold mountain? Now you have something. Progressive educationalists like Robinson frame existing knowledge as the enemy of new ideas. But at the most basic level, all of our new ideas are made up of old ones: to imagine a winged horse, you first need to be familiar with the ideas of horses and wings; to create a smartphone, you need to know about computers and phones. The more existing ideas you have in your head, the more varied and richer will be your novel combinations of them, the greater your store of reference points and analogies. A fact is a particular class of idea about the world, and it can be put to work in a lot of different ways. We romanticize the curiosity of children because we love their innocence. -
Investment Newsletter December 2016
investment newsletter December 2016 Monthly Equity Roundup – December 2016 S&P BSE Sensex Nifty 50 Index 26800.00 8300.00 26300.00 8100.00 Nifty 50 Nifty 25800.00 7900.00 S&P BSE S&P Sensex 16 16 16 16 - - - - Nov Dec Dec Dec - - - - 10 20 30 30 December 2016 – Review Indian equity markets concluded 2016 on a weak note mainly on account of two reasons – i) U.S. Federal Reserve’s rate- hike raising concerns over foreign fund outflows, ii) Uncertainty around the impact of the demonetization move. A series of disappointing economic data added to the woes.The year 2016 turned out to be quite eventful for the bourses. Benchmark indices witnessed dramatic movements owing to events such as “Brexit” and U.S. Presidential elections. On the domestic front, the passage of the constitution amendment bill in the Rajya Sabha that paved the way for GST and expected demand recovery in the second half generated positive vibes. On the flip side, demonetization of high-value currency notes by the government created uncertainty and impacted buying interest. For the month, key benchmark indices S&P BSE Sensex and Nifty 50 slipped 0.10% and 0.47% to close at 26,626.46 points and 8,185.80 points, respectively. S&P BSE Mid-Cap and S&P BSE Small-Cap fell 3.74% and 2.30%, respectively. According to data from the National Securities Depository Ltd, foreign portfolio investors remained net sellers of domestic stocks worth Rs. 8,176.29 crore in Dec compared with net sale of Rs. -
Csr Company Related Letter 17.07.2019
CSR Companies Contact Details S.No. District Company Name Concerned Name Mobile/Email 1 Ajmer R.K.Marble Pvt. Ltd., Makrana Road, Sh. Subhash C. Agarwal [email protected] Madanganj- Kishangarh- Mr. Suresh Patni 305801Ajmer 9829071401 2 Ajmer Shree Cement Ltd, Bangur Nagar, Sh. Bhawani Singh 9251037546 Beawar, Ajmer [email protected] 3 Ajmer Property Ventures (India) Pvt. Ltd., Sh. Vikas Patni [email protected] Makrana Road, Madanganj- Sh. Hemant Rathi, [email protected] Kishangarh, Ajmer Director [email protected] Sh. Namita Jain, CS 9829071401 4 Alwar Vintage Distillers Ltd., 117, M.I.A. Sh. Saurabh Jain 7665779000 Alwar-301030 Sh. Prakash Narang, 7073709112 Manager Personnel 7073709111 [email protected] [email protected] 5 Alwar United Breweries Ltd., UB Tower, Ms. Tushara Shankar (91-80) 39855000, Direct 39855 Level 3-5, UB City, #24 Vittal Maliya [email protected] Road, Bengaluru-560001 6 Alwar Eicher Engines ( A unit of TAFE Sh. R.N.Sahai [email protected] Motors and Tractors Limited), Sr. DGM 9414017928 Itarana Road, Alwar- 301001 Sh. Nageshwar Dutt [email protected] Lakhawat 7 Alwar Carlsberg India Pvt. Ltd., Plot No. SP- Sh. Ananad Shrivastava [email protected] 1-4& 5-8, Agro Food Park, MIA Ext. [email protected] Alwar 9785107507 8 Alwar Ashok Leyland Ltd., SPL-298, MIA, Sh. Gopinath [email protected] Alwar- 301 030 Asst. Manager-HR 9414020361 9 Alwar Metso India Pvt. Ltd., SP 1-1 to 1-13, Sh. Sanjay Sehgal [email protected] MIA Industrial Area, South East Sr. Manager 8094019207 Zone, Alwar- 301030 10 Alwar Havells India Ltd.