HEROMOTOCO.NSE

Hero MotoCorp Ltd

Established Indian two-wheeler companies are now leading the electric vehicle market. By January 2026, TVS Motor, Bajaj Auto, and Hero MotoCorp will hold 60% of the market. This marks a significant shift from startup dominance. Legacy players are attracting mainstream customers with their strong networks and reliable products. The market is moving towards consolidation.

In this briefing: Primer: Redington India (REDI IN) - Feb 2026 HSIE Results Daily: State Bank of India, Tata Steel, Shree Cement, Repco Home Finance Pitti Engineering Ltd. - Steady Volume Growth Validates Future Earnings Visibility VA Tech Wabag Ltd - Healthy Order Inflows Sustain Growth Outlook; Maintain BUY Hero Motocorp Ltd - Margin Stability, Global Scale-Up & Strong Demand 1. Primer: Redington India (REDI IN) - Feb 2026 Redington is a leading technology distributor and solutions provider with a strong presence in India, the Middle East, Africa, and Turkey. The company is transitioning from a traditional hardware distributor to a value-added technology solutions provider, focusing on cloud, software, and AI-led solutions. The company has demonstrated a solid financial track record with consistent revenue growth. Its diversified business model, encompassing IT, mobility, and services, coupled with a vast network of over 290 international brand partnerships, provides a resilient revenue base.

In this briefing: HSIE Results Daily: State Bank of India, Tata Steel, Shree Cement, Repco Home Finance Pitti Engineering Ltd. - Steady Volume Growth Validates Future Earnings Visibility VA Tech Wabag Ltd - Healthy Order Inflows Sustain Growth Outlook; Maintain BUY Hero Motocorp Ltd - Margin Stability, Global Scale-Up & Strong Demand Automotive Axles Ltd - Sequential Margin Upswing with Volume-Led Upside 1. HSIE Results Daily: State Bank of India, Tata Steel, Shree Cement, Repco Home Finance State Bank of India: SBIN’s Q3FY26 earnings beat estimates on the back of healthy growth on both sides of the balance sheet, stable margins, in-line asset quality, and interim dividend from SBI Funds management (~INR2.2bn) Loan growth (+15% YoY) continued to outpace the system, led by pick-up in the corporate segment, even as growth in RAM segments remained strong Deposit growth (+9% YoY, 2% QoQ) was relatively soft, while the CASA ratio declined to 37.5% (-46bps QoQ), with softer traction in CA balances Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only.

In this briefing: Pitti Engineering Ltd. - Steady Volume Growth Validates Future Earnings Visibility VA Tech Wabag Ltd - Healthy Order Inflows Sustain Growth Outlook; Maintain BUY Hero Motocorp Ltd - Margin Stability, Global Scale-Up & Strong Demand Automotive Axles Ltd - Sequential Margin Upswing with Volume-Led Upside Max Healthcare Institute Ltd - Short-Term Disruptions; Multi-Year Growth Intact 1. Pitti Engineering Ltd. - Steady Volume Growth Validates Future Earnings Visibility Volume Growth Continues: Robust, broad-based demand, coupled with consistent execution, helped the company maintain healthy capacity utilisation during the quarter. As a result, total lamination volumes grew 21.1% YoY to 16,823 tonnes, and machined components volumes increased 7.7% YoY to 2,967 tonnes. Ensuring Steady Supply of Electrosteel: The company has secured a tie-up of BISapproved steel from mills in Korea and Japan. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only.