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Amara Raja Batteries Ltd (ARBL) is India's second largest Lead-acid battery manufacturer. Its segment includes 70% from automotive & rest from industrial with market leadership in the Telecom segment. During Q4FY21, ARBL revenue came at 33%YoY led by lower base and demand recovery both in OEM and replacement sales. Margin came lower at 15.1% (-30bps) due to higher lead price. However, continued cost control initiatives offset the further decline. Investment of Rs350cr for technological & capacity up-gradation in the...
The Reserve Bank of India (RBI) expectedly maintained its repo rate at 4.0%, reverse repo rate at 3.35% and MSF at 4.25%. MPC members voted unanimously on status quo and maintained an accommodative' stance. Several measures like TLTRO extension to contact-intensive sectors, enhancement of exposure thresholds under resolution framework and more were also announced by the RBI in today's policy. RBI announced that under G-Sec acquisition programme (GSAP 1), further purchase of G-secs worth | 40000 crore would be conducted on June 17,...
In May21, OEMs like Maruti Suzuki (MSIL), TVS Motors (TVSL), Bajaj Auto (BJAUT), Hero MotoCorp (HMCL), Royal Enfield (RE), VECV, Ashok Leyland (AL), Escorts (ESC), and M&M; (PV & FES) have reported a double-digit decline on MoM basis. The 2nd covid wave has affected the production, supply chain, and demand because of strict lockdown. However, as the covid curve flattens the pent-up demand expected to come back. The Tractor industry expected to rebound on the back of a healthy monsoon forecast, bumper Rabi crop harvest, and land preparation for the Kharif crop. We believe low base, all-time low-interest rates, and demand for personal...
Asian markets are trading mixed as investors took note of data that showed Chinese services activity growth slowed in May. Nikkei is trading higher by 0.35%, while Shanghai is trading flattish and Hang Seng is trading lower by 0.28%.
Asian markets are trading mixed as investors take note of data that showed Australia GDP rose 1.8% from last quarter (vs. estimates of 1.5%). Nikkei is trading higher by 0.45%, while Shanghai is trading lower by 0.38% and Hang Seng is trading lower by 0.15%.
