GS gives sell rating on Hero MotoCorp, sees rationale for gross margin upside, in context of similar product mix vs Q3

CLSA gives outperform rating on Dabur, says EBITDA margin contracts partially impacted by some one-offs

CLSA gives outperform rating on Godrej Properties, believes company is best placed among Indian developers for long-term growth due to presence

UBS gives sell rating on Hero MotoCorp, says revenue growth broadly in-line & implied ASP growth of 1% QoQ & 5% YoY

CLSA gives sell rating on TVS Motor, says valuations appear bit stretched with stock trading at 23x FY25 EPS estimate

UBS gives buy rating on TVS Motor, says management commentary on EV franchise, market share gains paint promising outlook for FY24

JPMorgan gives overweight rating on TVS Motor, says domestic 2-wheeler market share should continue to improve in FY24 driven by 125 CC bikes

Macquarie gives outperform rating on HDFC, says stable spreads, rising margin & improvement in asset quality in-line with expectations

Nomura gives buy rating on HDFC, says asset quality remains benign with GNPAs reducing, credit cost remained low

MS gives overweight rating on Dabur, says company continues to gain market share across portfolio