India added around 60 global capacity centers (GCCs) in Q4FY23, with their total count reaching over 1,580 and the market size nearing US$46bn, up from US$36bn in FY21.

Axis Research Scorecard Report for May 2023

Asian markets are trading in the green tracking positive cues from Wall Street overnight. Nikkei was trading higher by 0.74%, Hang Seng was trading higher by 3.20%, and Shanghai was trading higher by 0.51%.

Maruti Suzuki’s overall wholesale volumes for the month of May 2023 increased by 10.3% YoY/ 10.9% MoM. Total Domestic sales grew by 13.0% YoY/ 5.6% MoM. Exports declined by 2.6% YoY but saw a significant uptick of 56.0% MoM.

Auto Monthly Volume May 2023

FMCG companies saw signs of a recovery in Q4FY23 after a series of challenging quarters. “I wouldn't say that we are out of the woods yet, but we have started seeing volume growth coming back,” Sunil D’Souza, CEO and MD of Tata Consumer Products, said.

Q4FY23 EBITDA/PAT for our oil & gas coverage universe was much stronger than in the preceding quarter. EBITDA grew 22% and PAT 29% YoY in Q4FY23 vs a flat EBITDA and 17% YoY decline in PAT in Q3FY23. Robust improvement in the results of RIL and the OMCs were primarily responsible for the aggregate earnings jump.

Hero Motocorp (HMCL) has reported volume increase of 7%/31% YoY/MoM at ~519k units in May’23. Motorcycle sales volumes increased 8%/33% YoY/MoM at ~489k units vs scooters, which decreased 13% YoY (although 10% higher MoM) at ~30k units.