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The two-wheeler sales in India experienced a marginal decline in May as compared to the same period in the previous year. The major two-wheeler manufacturers of the country reported a decrease in sales numbers, reflecting a broader trend in the industry.Market leader Hero MotoCorp, sold 498,123 units in May 2024, marking a decrease from the 519,474 units sold in May 2023. This decline was observed in both the scooter and motorcycle segments.Specifically, Hero MotoCorp's scooter sales fell to 26,937 units in May 2024, down from 30,138 units in May 2023. Motorcycle sales also saw a decline, with 471,186 units sold in May 2024 compared to 489,336 units in May 2023.Bajaj Auto, another player in the two-wheeler market, also registered a decline in sales. In May 2024, Bajaj Auto's total two-wheeler sales stood at 305,482 units, a slight drop of 1 per cent from the 307,696 units sold in May 2023. This marginal decline highlights the competitive pressures and market conditions affecting the two-wheeler segment.Eicher Motors, the parent company of Royal Enfield, also reported a decrease in motorcycle sales. In May 2024, the company sold 71,010 units, which is 8 per cent lower than the 77,461 units sold in May 2023.Despite this decline in domestic sales, all three have reported growth in exports. Eicher Motors exports grew by 12 per cent, with 7,479 units sold in May 2024 compared to 6,666 units in May 2023. This increase in exports highlights international demand for Royal Enfield motorcycles.Bajaj Auto registered a 4 per cent growth in exports from 1,12,885 units in May 2023 to 1,17,142 units in May 2024.Hero Moto Corp exports were up from 11,165 units in May 2023 to 18,673 units in May 2024.The manufacturers are navigating the declines in sales through various strategies such as introducing new models, enhancing distribution networks, and focusing on export markets. With good monsoon predicted by the Indian Metrological Department, sales of two-wheelers may go up in the coming months.

Led apparently by heavy short-covering by FIIs, Nifty zoomed around 3% and Sensex shot up to 2,778 points on Monday morning after exit polls surprised the stock market by predicting a landslide victory for NDA. "Aayega To Modi" slogan became an investing strategy as traders were seen buying Prime Minister Narendra Modi's favourite PSUs lock, stock and barrel.Dalal Street's fear index India VIX also slumped 20% as all sectoral indices were swamped in a flood of green."If the Lok Sabha results on 4th June materialize as per the Exit Poll direction, our country will likely enter a “Golden Phase” of political stability and policy continuity. The Indian economy is in a sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy. With this expectation of political stability and policy continuity, the prospects of the Indian economy appear notably brighter and more promising in the upcoming years," said Neeraj Chadawar of Axis Securities.According to the average of 12 exit polls, NDA is seen as winning 367 seats this time, improving its 353 count in the 2019 elections. Even the lowest forecast is that of 316 seats. While the NDA may fall short of its ambitious 'Abki Baar 400 Paar' target, traders see Nifty going beyond 24,000 this week.Also read | 'Aayega To Modi' becomes new ATM strategy for stock investors before election resultNomura has set the December 2024 Nifty target at 24,860, based on 20x. Brokerages are constructive on domestic sectors with stocks related to manufacturing and capex being on top of their list.Here are top election stock ideas from brokerages:Motilal OswalOur model portfolio remains aligned with the key domestic cyclical themes amid a consistent backdrop of earnings growth. We remain overweight on financials, consumption, industrials, and real estate. Industrials, consumer discretionary, real estate, and PSU banks are our key preferred investment themes.Top ideas: ICICI Bank, SBI, L&T, Coal India, M&M, Adani Ports, ABB, HPCL, Hindalco, Indian Hotels, Godrej Properties, Global Health, KEI Industries, PNB Housing, Cello World, and Kirloskar Oil.CLSAONGC, NTPC, NHPC, SBI, Power Finance, IGL, and Mahanagar Gas in the PSU space. Of the non-PSU Modi stocks, CLSA analysts like Ashok Leyland, Ultratech, L&T, and the tariff-hike-linked telecom stocks via Bharti Airtel, Indus Towers and Reliance.NomuraOur top picks in India are SBI, ICICI Bank, GCPL, M&M, BHEL, Reliance Industries and Bharti Airtel. In midcaps, we like Federal Bank, Voltas, Lupin, Medplus, InfoEdge and Uno Minda.Axis CapitalSBI, Bank of Baroda, REC, NTPC, JSW Energy, Suzlon, RVNL, J Kumar Infra, and Hindustan Aeronautics are brokerage's top picks.SharekhanTop Picks: ICICI Bank, IndusInd Bank, M&M, Escorts, Hero MotoCorp, L&T, PNC Infratech, Adani Ports, ABB, Siemens, Thermax, Cummins, Kirloskar Engines, BHEL, HAL, BEL, Mazgaon Dock, Cochin Shipyard, BEML, UltraTech, JK Lakshmi Cement, SBI, Bank of Baroda, Bank of India, PNB, DLF, Sunteck Realty, Arvind Smartspaces, BPCL, HPCL, Coal India, NTPC, PFC.Phillip CapitalTop Picks: SBI, BOB, Canara Bk, PFC, REC, Shriram Finance, Muthoot Finance, UltraTech, Siemens, Hero MotoCorp, TVS Motor, Divi's Labs, Syngene, APL Apollo, Jindal SAW, IGL, Aarti Industries, Vinati Organics, Praj, Gokaldas Export, SP Apparel.Prabhudas LilladherTop Picks: L&T, Adani Port, Siemens, ABB, Carborundum, Schneider, Esab, Ingersoll Rand, Kirloskar Pneumatic, HAL, BEL, BDL, BEML, Mazagon Dock, Cochin Shipyard, Ultratech, Ambuja Cement, RIL, Sterling Wilson, Waaree, L&T, Praj Industries, JSPL, JSL, SBI, BoB, Canara Bank, Union Bank, PNB, Polycab, RR Kabel. Dixon, Amber, Keynes and Syrma (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

The initial public offer (IPO) of Kronox Lab Sciences opened for subscription earlier today and will close on June 5. The issue is completely an offer for sale of 95.7 lakh shares.Since the IPO is entirely an OFS, all the net proceeds will go to the selling shareholders, including Jogindersingh Jaswal, Ketan Ramani and Pritesh Ramani, all part of the promoter group.About 50% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors and the rest 35% for retail investors.Kronox Lab Sciences IPO reviewAnalysts advised investors to subscribe to the issue as the company's diverse product portfolio catering to various end-user industries, coupled with high entry and exit barriers due to stringent manufacturing processes positions it for sustainable growth."The IPO's P/E valuation of 31.62x appears reasonable. Taking into account Kronox Lab Sciences' strengths, potential risks, and attractive valuation, we recommend a subscribe rating to this IPO for potential listing gains and long-term growth," said Swastika Investmart.Kronox Lab Sciences IPO price bandThe company has fixed a price band of Rs 129-136 per share for its maiden public offer. At the upper end, it plans to raise Rs 130 crore.Also Read | IPO Calendar: Primary market continues to remain vibrant with 2 new issues, 6 listings next weekOther detailsKronox Lab Sciences manufactures high purity Speciality fine chemicals for diversified end-user industries. Its products are utilised in the production of pharmaceutical formulations, nutraceuticals, scientific research, agrochemical formulations, metal refineries, personal care products, and animal health products, among other uses.Over the years, it has expanded its scale of operations and global footprint with customers in over 20 countries including US, Argentina, Mexico, Australia, and Egypt among others. The revenue from exports has grown at a CAGR of 37.46% between FY21-23.In the nine-month period ending December 2023, the company's revenue from operations fell 9% to Rs 67.6 crore, while net profit after tax increased 10% to Rs 15.4 crore.Pantomath Capital is sole the book-running lead manager for the IPO and Kfin Technologies is the registrar.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Brokerage Macquarie maintained an outperform rating on Aurobindo Pharma, Morgan Stanley initiated coverage on Suzlon, CLSA upgraded Apollo Hospital and CLSA maintained a buy rating on Titan Company.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:Macquarie on Aurobindo Pharma: Outperform | Target Rs 1,385Macquarie maintained an outperform rating on Aurobindo Pharma but raised the target price to Rs 1,385 from Rs 1,300 earlier.The company announced the signing of a master service agreement with Merck Sharp & Dohme. It is the first of its kind biologics CMO contract from a large pharma company.TheraNym will invest - Rs 1,000 crore and build a manufacturing facility. The global investment bank believes the actual revenue from the contract would start flowing from CY27.It opens up the possibility to contract with other large pharma companies seeking to move their supply chains out of China. The global investment bank raised FY25E/26E earnings estimates by 1% each.Morgan Stanley on Suzlon: Overweight| Target Rs 58.50Morgan Stanley initiated coverage on Suzlon with an overweight rating and a target of Rs 58.50. Suzlon 2.0 is well positioned to benefit from energy transition.The market has not fully appreciated growth potential yet. Earnings are likely to grow at 57% CAGR in FY 24-27.CLSA on Apollo Hospitals: Outperform| Target Rs 7,150CLSA upgraded Apollo Hospitals to outperform from buy earlier and has also raised the target price to Rs 7,150 from Rs 7,000 earlier.Capping rates will be difficult to implement. The recent decline in the stock price is unwarranted.CLSA on Titan Company: Buy| Target Rs 4,270CLSA maintained a buy rating on Titan Company and raised the target price to Rs 4,270 from Rs 4,045 earlier.The company delivered strong revenue growth guidance dampened by slightly weaker margins. However, Titan raised the upper limit of its growth targets for jewellery.Titan lowered the margin band by 50 bps to 11.5%-12.5% for the jewellery business. The company is best placed to benefit from rising affluence and premiumization.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)