Hero Motocorp (HMCL) volume improved 11% MoM (up 10% YoY) to 394k units, its highest since festive month sales in October 2022. With exports remaining subdued and HMCL being a relatively weak player in the scooter space, we believe this performance was commendable.
Axis Bank completes the acquisition of Citibank India’s consumer business in India, which now elevates the position of the bank to capture premium market share growth. The acquisition has been completed in an accelerated timeframe, which has been carried out over 7 months post the receipt of CCI approval.