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The company is primarily engaged in the manufacturing of electric buses and composite polymer insulators
At the bourses, shares of Hero MotoCorp have declined over 8 per cent so far this calendar year (CY23), as against 0.8 per cent rise in the S&P BSE Sensex
Stocks to Watch: On the earnings front, Ambuja Cements, Adani Total Gas, PSB, Tata Steel and Uco Bank are likely to be on investors radar on Tuesday.
According to brokerages, Ebitda (earnings before interest, tax, depreciation, and amortisation), is expected to outpace top-line growth, rising up to 22.4 per cent QoQ to Rs 3,466 crore in Q4FY23
Bajaj Auto Q4 preview: Analysts estimate flat input cost assumption, and lower operating leverage will weigh on EBITDA and EBITDA margins in Q4FY23
This possible IPO along with the receipt of consideration of EV deal with TPG will support FCF generation from the India business to attain near debt zero in the India business, MOFSL said.
Analysts believe that exports are likely to remain under pressure in \near term, owing to weak macros, adverse currency movements and dollar availability issues in Africa, South Asia and Latin America
Management commentary suggests some raw material decline benefits along with price hike to come in effect from Q4FY23 onwards amid robust demand for its product profile .
On the bourses, shares of M&M declined 1.4 per cent in Q3FY23, whereas peers like Maruti Suzuki, and Tata Motors slipped up to 4 per cent
At 11:00 am; Nifty Bank, Nifty Private Bank, Nifty PSU Bank and Nifty Financial Services are trading almost flat, as against 0.58% rise in Nifty 50.
Analysts remain positive on the auto sector given the expectation of double digit volume growth coupled with benign commodity price outlook leading to healthy margin recovery.
Tata Motors will benefit from a macro recovery in India, company-specific volume/margin drivers, and a sharp improvement in FCF and leverage in both JLR and India ops, Motilal Oswal said in a note.
Domestic demand is expected to improve sequentially in 4Q, supported by better rural market sentiment on the back of strong rabi crop sowing and higher MSPs.
Bajaj Auto Q3 preview: As per brokerage estimates, the auto major is expected to report marginal improvement in EBITDA margins on a sequential basis to 17.4 per cent in Q3FY23
Tata Motors and its wholly-owned subsidiary JLR to report December quarter results on Wednesday, January 25, 2023.
Analysts, however, believe investors may adopt 'buy on dips' strategy for the pack as overall sales growth is expected to remain steady going forward
Shares of Tata Motors surged 7 per cent in Tuesday's intra-day trade to hit a high of Rs 417.7 apiece
In the past two weeks, it has rallied 26 per cent in an otherwise volatile market. In comparison, the S&P BSE Sensex was down 3 per cent, during the same period
Surrender early gains; banks, automotive stocks among biggest losers