Our channel checks indicate healthy retail growth in PVs, and mixed demand in 2Ws and CVs. Retail demand has dampened after remaining healthy in the festive season. Untimely rain in key markets like Maharashtra and Tamil Nadu partially negated the impact of healthy wedding season demand for 2Ws in the northern belt. PV demand, led by MSIL, was healthy on the back of new launches. CV demand, with the exception of tippers, was subdued, with discounts increasing sequentially. Tippers are witnessing better demand.
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Motilal Oswal was founded in 1987 as a small sub-broking unit, with just two people running the show. Today it has a 2000 member team with a networth of Rs7 bn and market capitalization as of March 31, 2008 at Rs19 bn.
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