Name: Latest research reports of Apollo Tyres Ltd. authored by ICICI Direct and published by - Trendlyne research reports.
Item: Apollo Tyres Ltd.
Rating: 5
Author: ICICI Direct

Apollo Tyres Ltd.

16 Nov 2025, 12:00AM

518.70

-3.39%

Apollo Tyres

Buy: Apollo Tyres Ltd.

Target

ICICI Direct

About the stock: Apollo Tyres (ATL), is a leading tyre manufacturer, having operations in India & Europe. In India, ATL has substantial presence in TBR (~30% market share) and PCR space (~20% market share). India contributes ~67% of sales Q2FY26 Results: ATL reported healthy performance in Q2'26. Revenues on consolidated basis in Q2FY26 stood at 6,831 crores, up 6% YoY. EBITDA for the quarter stood at 1,021 crore with EBITDA margins at 14.9%, up ~170 bps QoQ. Consequent PAT for Q2FY26 came in at 258 crores, down 13% on YoY basis (include one-time exceptional charge on account of closure of Netherland plant)....

Number of FII/FPI investors increased from 302 to 313 in Sep 2025 qtr.

Ashok Leyland Ltd.

16 Nov 2025, 12:00AM

148.26

-1.43%

Ashok Leyland

Hold: Ashok Leyland Ltd.

ICICI Direct

About the stock: Ashok Leyland (ALL) is a pure-play CV manufacturer FY25 product mix LCV goods 35%, trucks 50%, buses 15% Q2FY26 Results: Company reported healthy operational performance in Q2'26. Standalone revenues for Q2FY26 came in at 9,588 crore, up 9.3% YoY amidst 8% growth in volumes to 49k units. EBITDA for the quarter came in at 1,162 crore with margins at 12.1%, up 100 bps QoQ. Consequent PAT in Q2FY26 came in at ...

ICICI Direct released a Hold report for Ashok Leyland Ltd. with a price target of 165.0 on 16 Nov, 2025.

Tata Steel Ltd.

16 Nov 2025, 12:00AM

174.26

-1.35%

Tata Steel

Buy: Tata Steel Ltd.

Target

ICICI Direct

TSL's Indian operations will benefit from capacity expansion and the likely extension of the 12% safeguard duty, supporting domestic prices. Moreover, the EU import-control measures should also aid European steel pricing and strengthen Netherlands performance. On that note, we maintain BUY rating on Tata Steel with SOTP-based target price of 210...

Tata Steel Ltd. has gained 26.29% in the last 1 Year

Premier Explosives Ltd.

16 Nov 2025, 12:00AM

598.70

0.23%

Premier Explosives Ltd.

Buy: Premier Explosives Ltd.

ICICI Direct

Growth set to pick-up led by strong industry tailwinds About the stock: Premier Explosives (PEL) specializes in producing high-energy materials, including bulk and packaged explosives and initiating systems for mining, infrastructure & construction. Company also manufactures missile and rocket propellants, strap-on motors for satellite launches, and various defence...

Premier Explosives L.. has an average target of 815.00 from 1 broker.

IPO

TREND | 14 Nov 2025

IPO Note - Fujiyama Power Systems Limited - 14112025

IPO

HDFC Securities

Issue Snapshot: Issue Open: November 13 November 17, 2025 Price Band: Rs. 216-228 *Issue Size: Up to Rs 828 cr (Fresh issue of up to Rs 600 cr + Offer for sale of upto 1,00,00,000 eq sh) Reservation for: QIB atleast 75% eq sh Non-Institutional upto 15% eq sh ((including 1/3rd for applications between Rs.2 lakhs to Rs.10 lakhs)) Retail upto 10% eq sh Face Value: Rs 1 Book value: Rs 16.58 (June 30, 2025) Bid size: - 65 eq sh and in multiples thereof 100% Book built Issue IPO Note - Fujiyama Power Systems Limited - 14112025

HDFC Securities released a IPO Note report for IPO on 14 Nov, 2025.

Brokerage Research Reports

TREND | 14 Nov 2025

H.G. Infra Engineering: Q2FY26 Result Review

Brokerage Research Reports

IDBI Capital

HG Infra delivered a mixed set of results in Q2FY26 that underline execution progress on its large road/HAM portfolio but also reflect near-term noise from project accounting, higher financing and working-capital needs, on a standalone basis revenue rose to Rs11.5bn in Q2 vs Rs10.6bn a year ago (+8.4% YoY) but declined sharply QoQ from Rs17bn in Q1, driven by phasing of project billings. EBITDA dropped to Rs1.5bn with 12.7% margin versus 16.4% last year and PAT fell to Rs673mn, at 5.8% margin, reflecting higher finance costs and some oneoff provisions taken on specific contracts. We maintain BUY rating on the stock with revised TP at Rs1,126 value at 10x FY26E EPS. Q2 consolidated revenue was...

Ventura released a report for Brokerage Research Reports on 14 Nov, 2025.

Lemon Tree Hotels Ltd.

14 Nov 2025

156.52

0.86%

Lemon Tree Hotels: Q2FY26 Result Review

Buy: Lemon Tree Hotels Ltd.

Target

IDBI Capital

Lemon Tree Hotels Ltd.'s (LTH) Q2FY26 result was in-line with our estimates on key parameters. The hospitality industry witnessed multiple headwinds during H1FY26 including geopolitical tensions, floods, tariff wars, and GST revisions, which led to muted demand in Q2. Despite these challenges, LTH reported the best ever Q2 performance. Management noted that demand continues to outpace supply, especially in Tier 2 and Tier 3 markets where branded inventory remains limited and pricing power is improving. Room rates across the industry are still about 20% lower than 200708 levels (inflation-adjusted), indicating...

Lemon Tree Hotels Ltd. is trading above its 200 day SMA of 147.7

Tata Steel Ltd.

14 Nov 2025

174.26

-1.35%

Tata Steel: Q2FY26 Result Review

Hold: Tata Steel Ltd.

Target

IDBI Capital

Tata Steel's Q2FY26 performance was above our expectations. Revenue increased 10% QoQ to Rs586bn, driven by 11% increase in volumes, aided by strong growth in India operations. However, this was partially offset by a 1% QoQ decrease in realizations owing to weak steel prices. Consolidated EBITDA increased 20% QoQ to Rs89bn, with EBITDA/t improving 8% QoQ to Rs11,247. UK operations saw EBITDA loss widen to Rs13,510/t in Q2FY26 from Rs7,829/t in Q1FY26, while the Netherland business posted improved EBITDA of Rs5,948/t, up from Rs4,074/t in Q1FY26. The improvement was supported by global cost...

Tata Steel Ltd. is trading below its 30 day SMA of 176.1

Century Plyboards (India) Ltd.

14 Nov 2025

792.40

-0.88%

Century Plyboards: Q2FY26 Result Review

Hold: Century Plyboards (India) ...

Target

IDBI Capital

Century Plyboards' Q2FY26 performance was above expectations. Revenue grew 17% YoY to Rs14bn, driven by strong growth in MDF (+28% YoY), Plywood (+15% YoY), and Laminate (+17% YoY), despite a decline in Particle boards (-18% YoY). EBITDA margin expanded by 320bps YoY to 12.6%, supported by margin improvement across MDF and laminates segment. Additionally, the new plywood facility at Hoshiarpur (capacity: 50,000 CBM), commenced operations, taking its plywood capacity to 3,94,800 CBM. Further, new plywood capacity expansion at Puttur has been initiated and is expected to commence operations...

IDBI Capital increased Hold price target of Century Plyboards (India) Ltd. to 778.0 on 14 Nov, 2025.

Indian Railway Catering & Tourism Corporation Ltd.

14 Nov 2025

705.30

-0.65%

IRCTC: Q2FY26 Result Review

Hold: Indian Railway Catering & ...

Target

IDBI Capital

IRCTC delivered a stable and profitable Q2FY26 with profit after tax rising 11% YoY to INR 341cr and strong EBITDA margin improvement to 34.3%. Growth was broad-based, led by Internet Ticketing (INR 386cr revenue, 85% EBITDA margin), robust Catering (INR 520cr, 13% margin) and buoyant Tourism (INR 150cr, 7% margin). Rail Neer volumes remained steady and capacity expansion is underway. Management highlighted disciplined cost control and margin sustainability driving recurrent improvements. Strategic priorities include building a unified travel portal leveraging AI/ML, expanding payment aggregator...

Indian Railway Catering & Tourism Corporation Ltd. is trading below all available SMAs