Sudarshan Kumar

Nomura on M&M Buy, TP Rs 4662 SML Q4 - Growth on track, rising costs impact gross margins Price hikes to support margins in FY27F Growth guidance: management targets market share of 10-12% over medium term supported by product expansion, & entry into the ICV segment New launches: pipeline includes AC buses, and ambulances, while entry into the ICV segment will broaden portfolio. EV strategy: near-term EV rollout planned with an e-bus launch in FY27E @sudarshankr @CNBCTV18News

CLSA on Autos Amid geopolitical overhang & recent OEM price hikes, early April demand has held up better than feared. Retail volumes for 2Ws, 3Ws and CVs grew YoY at mid-single digits in the first half of April-26, while M&HCV goods and tractors stood out, clocking mid- to high-teens growth. PVs remain weak link, with retail volumes down 9% YoY, led by sharper pressure on entry OEMs like MSIL. Offsetting this, EV penetration continued to build, reaching 5.8% in PVs and 8.3% in 2Ws Stay constructive on CVs (TMCV, AL) & maintain a positive stance on M&M and BJAUT, backed by exposure to stronger demand pockets. MS on Autos Autos are facing multiple headwinds from cost pressures to risk of supply-chain disruptions to tightening regulations. All that will hit 1QF27 gross margins – but volume up-cycle will enable OEMs to gradually pass through cost pressures. Maintain Attractive Industry View M&M, Maruti, TVS & Hero remain preferred OWs. @CNBCTV18News @sudarshankr

#CNBCTV18Access | Fuel economics have historically driven India’s auto shifts, with Emkay noting EVs could trigger a structural transition like motorcycles if the cost advantage sustains—though risks around pricing and infrastructure remain. By @sudarshankr | #ElectricVehicles #EV #Automobiles Read: cnbctv18.com/auto/electric-…

From The F&O Desk - #Nifty Put Call ratio at 1.11 vs 1.11 - #FIIs add Rs 1,234 cr in index futures #CNBCTV18Market @sudarshankr #CNBCTV18News #FuturesOptions

Two key reasons prompt Jefferies to downgrade this stock with a 30% target cut @hormaz_fatakia @sudarshankr cnbctv18.com/market/jefferi…

#IranUpdate UK PM #Starmer says will convene a summit of leaders along with President #Macron this week. The summit will be focused on two things 1. diplomatic efforts to bring pressure to bear for a negotiated settlement to bring an end to the conflict & the strait to be opened. 2. ⁠military planning to provide assurance to shipping as soon as a stable Enviroment can be established ‘This is about safeguarding shipping & ensuring open navigation once the conflict ends. Our aim is a coordinated, independent, Multinational plan’ @CNBCTV18News @CNBCTV18Live #Iran #StraitOfHormuz #CNBCTV18Market

#JustIn | #Bosch Analyst Call: Product portfolio of #BoschChassis is largely powertrain agnostic, acqn is a strategic move 👉Mobile landscape in India to evolve rapidly 👉EPS accretion of 5% from Bosch Chassis acqn based on FY25 numbers 👉Co’s revenue will increase by 22% from Bosch Chassis acqn 👉Acqn is done at Bosch Chassis’ 10.6x EV FY25 EBITDA

#AwaazMarkets | बाजार की नजर आज ELECTRIC VECHILE से जुड़ी कंपनियों पर है... दरअसल वीकेंड पर केंद्र और दिल्ली सरकार ने ELECTRIC VECHILE से जुड़ी पॉलिसी जारी की है... क्या है पॉलिसी में और क्या होगा असर...? #EVSector #EVPolicy @sudarshankr

Delhi #EV Policy | Govt Releases Draft Electric Vehicle Policy - Draft offers incentives such as 100% road tax waiver for electric cars - Draft curbs vehicular pollution - Focussed on cutting emissions that form 23% of Delhi’s pollution #CNBCTV18Market @sudarshankr #TataMotors #M&M #OlaElectric

Midcap Movers | @sudarshankr with the big movers in the broader market today.

#JustIn | #RBI Releases Draft Amendment Directions w.r.t #NBFC Categorisation @_RituSingh @sudarshankr @imFmoharkan

Shapoorji Pallonji reiterates call for a “timely listing” of #TataSons - listing of Tata Sons is not merely a regulatory compliance but a necessary evolution -To date, no clear, evidence-based case has been presented to explain how a public listing would materially damage the interests of the trusts -listing will unlock value for millions of retail shareholders, create a more defined and robust dividend stream for the Tata Trusts - We remain in constructive engagement with Tata sons leadership to arrive at an amicable reconciliation -look forward to #RBI providing a decisive direction on Listing @CNBCTV18Live @CNBCTV18News #TataGroup

It’s important for #Nifty to hold Thursday’s low of 23,683. Midcap outperformance is positive

#BharatForge shares fall after board approves €30 million financing for restructuring @sudarshankr @ShlokaBadkar cnbctv18.com/market/bharat-…

F&O Cues | FIIs net buy Rs 5,073 cr in Index Futures and buy Rs 2,522 cr in Stock Futures @sudarshankr #options #CNBCTV18Market

Auto index was up 7% yesterday Few reports today BoFA Sec on Autos Upgrade Bajaj to Buy – TP Rs 10700, Valn reasonable (21x PE) 2Ws defensive bet in Autos amid current macro: Better pricing discipline, Export & FX tailwind offset & lesser growth shock Net margin & EPS cut risk least. Higher crude can actually be tailwind for exports to Africa (Nigeria) & EV biz. +ive Bajaj Like HMCL (valn cushion) & EIM (Buy) JPM on Autos While risk of disruptions seems to be abating, commodity inflation is likely to hurt the sector in 1QFY27 and beyond Cutting FY27E EPS by 2-16% across coverage with milder cuts in FY28 However, Nifty Auto has declined 9% since beginning of conflict (vs. Nifty down 6%) with some stocks back to levels seen pre-GST cuts Prefer MSIL, MM, HMCL and TVSL (upgrade to OW from N) Downgrading APTY from OW to N, TP cut to Rs 445 from Rs 570 Upgrading ESCORTS from UW to N, TP Rs 3175 @CNBCTV18News @sudarshankr

My key takeaways from the RBI policy: 1.RBI Guv's comments were impeccably neutral -hawkish element: rise in inflation forecast was more than cut in growth forecast -dovish element: Guv said a long pause is a possibility 2.Liquidity stance was clearly dovish with guv saying RBI will keep liquidity in surplus; not reinstating VRRR any time soon 3.SURPRISE- RBI gave core CPI forecast- this could be to help MPC look through rise in headline CPI, if it is only due to rise in prices of petrol, diesel 4.FX: RBI emphasised sudden squeezing out of speculative positions is temporary; will restore status quo ante when normalcy returns 5. Minor balancesheet reliefs- doing away with investment fluctuation reserve-will lead to a small addition to capital, no impact on profit. ALL TOLD- I am not expecting a rate hike in 2026. @RBI @FinMinIndia @INRBONDS

Top Nifty Gainer: InterGlobe Aviation | Fuel Cost Relief, Airport Charges Cut * The ATF hike of 8.5% is lower than expected * Airport charges cut 25% on parking & landing @sudarshankr @IndiGo6E #CNBCTV18Market #Aviation #IndiGo

#JustIn | #TVSMotor launches the #Armado200 in #Indonesia at a starting price of ₹1.8 lk

F&O Cues | FIIs net buy Rs 1,347 cr in Index Futures Stocks in F&O Ban: Sammaan Capital @sudarshankr #options #CNBCTV18Market