We prefer Hero Motocorp and Bajaj Auto in 2Ws (TVS, Eicher seem fully valued at CMP); M&M (non-coverage) as a play in the PV/LCV/tractor segment, followed by Maruti in PVs. We also like Ashok Leyland in the CV space, followed by a close watch on Eicher (VECV) for any market share gains.

Retail Research

Retail Research

Retail Research

Newsletter

Building Material companies under our coverage universe are expected to report single digit revenue growth due to weak demand, along with contraction in margins due to fluctuations in PVC resin prices in plastic pipe companies and tiles, due to oversupply in the domestic market, which has leads pricing pressure. We anticipate moderate volume growth of 5.2% YoY in plastic pipe sector. Tiles and bathware sectors are likely to experience single digit growth expecting demand to pick up in H2FY26. We expect coverage companies to register sales growth of 4.3% YoY, given correction in Finolex Ind revenue and...

Asian markets are trading mixed, as investors assess recent economic data, latest comments from U.S. Federal Reserve Chair Jerome Powell and a slew of central bank rhetoric. Nikkei and Shanghai are trading lower by 1.01% and 0.14%, respectively, while Hang Seng is trading higher by 0.52%.

End of Day Summary

End of Day Summary

Retail Research