Name: Latest research reports of Jubilant Foodworks Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Jubilant Foodworks Ltd.
Rating: 5
Author: ICICI Securities Limited

Jubilant Foodworks Ltd.

14 Nov 2025

606.65

0.27%

Outlier outperformer

Buy: Jubilant Foodworks Ltd.

Target

ICICI Securities Limited

Among all QSR players, Jubilant FoodWorks (JUBI) has delivered the best performance in Q2FY26, with 9.1% YoY LFL growth in Domino’s India led by strong 16.5% YoY LFL growth in delivery channel.

Promoters unpledged 4.36% of shares in last quarter. Total pledge stands at 0.83% of promoter holdings

Astra Microwave Products Ltd.

14 Nov 2025

945.40

-0.05%

Bags orders worth INR 2.4bn in Q2; guides for 2x revenue by FY28

Buy: Astra Microwave Products Ltd.

Target

ICICI Securities Limited

Astra Microwave’s (AMW) Q2FY26 EBITDA of INR 478mn was lower than consensus estimate. However, EBITDA margin improved YoY/QoQ to 22.3% on better product mix.

Astra Microwave Products Ltd. is trading above its 200 day SMA of 940.4

Alkem Laboratories Ltd.

14 Nov 2025

5686.50

-1.50%

Traction across segments scaling margins to newer highs

Buy: Alkem Laboratories Ltd.

Target

ICICI Securities Limited

Alkem Laboratories (Alkem) delivered a strong Q2FY26 result led by traction across regions. Growth in India biz (+12% YoY) was led by better traction in chronic therapies and recent foray in medical devices segment, while new launches including gEntresto boosted US revenue (+28%).

Alkem Laboratories Ltd. is trading above all available SMAs

Biocon Ltd.

14 Nov 2025

399.65

0.30%

Launches boost growth; profitability improvement tepid

Sell: Biocon Ltd.

Target

ICICI Securities Limited

Biocon’s Q2FY26 revenue growth of 19.6% YoY was driven by recent launches like bUstekinumab, bAspart, bBevacizumab and bAflibercept, and the launch of generic liraglutide.

Biocon Ltd. has gained 20.25% in the last 6 Months

PNC Infratech Ltd.

14 Nov 2025

251.80

-0.08%

Weakness continues; execution remains a key monitorable

Hold: PNC Infratech Ltd.

Target

ICICI Securities Limited

PNC Infratech (PNC) reported a weak Q2FY26, with revenue at INR 9.8bn as execution was impacted by a prolonged monsoon season and delayed start across HAM projects. EBITDA stood at INR 1.4bn.

PNC Infratech Ltd. has an average target of 327.83 from 6 brokers.

Nazara Technologies Ltd.

14 Nov 2025

253.90

0.14%

One-offs mar an already arduous quarter

Hold: Nazara Technologies Ltd.

ICICI Securities Limited

In Q2FY26, Nazara recognised an impairment of INR 9.2bn on its investment in Moonshine Technologies due to the regulatory ban on RMG. Nodwin was de-consolidated in Q2FY26.

ICICI Securities Limited released a Hold report for Nazara Technologies Ltd. with a price target of 275.0 on 14 Nov, 2025.

Afcons Infrastructure Ltd.

14 Nov 2025

411.10

1.43%

A subpar quarter; order inflow intensity to be a monitorable

Hold: Afcons Infrastructure Ltd.

Recommendation Target

ICICI Securities Limited

Afcons reported a subdued Q2FY26 as execution was impacted by: a prolonged monsoon season, delayed project start; and delay in payments (particularly in the water segment).

Afcons Infrastructur.. has an average target of 420.00 from 1 broker.

Asian Paints Ltd.

14 Nov 2025

2879.10

0.18%

ASIAN PAINTS LTD

Buy: Asian Paints Ltd.

Recommendation Target

Geojit BNP Paribas

Geojit BNP Paribas upgraded Asian Paints Ltd. to Buy with a price target of 3244.0 on 14 Nov, 2025.

Coromandel International Ltd.

14 Nov 2025

2366.70

2.99%

COROMANDEL INTERNATIONAL LIMITED

Accumulate: Coromandel International Ltd.

Target

Geojit BNP Paribas

The company aims to enhance capacity utilization through backward integration, while the introduction of new products is expected to strengthen its near-term revenue outlook. Additionally, contributions from emerging segments such as drones and retail, coupled with improved raw material availability and operational improvements, are likely to support profitability. We therefore maintain our...

Coromandel International Ltd. has gained 33.89% in the last 1 Year

Maruti Suzuki India Ltd.

14 Nov 2025

15903.00

-1.57%

MARUTI SUZUKI INDIA LIMITED

Buy: Maruti Suzuki India Ltd.

Target

Geojit BNP Paribas

due to adverse commodity prices, unfavorable foreign exchange movement, higher *over or under performance to benchmark index to 11.0% during the quarter. EBITDA margin contracted due to increased cost of...

Maruti Suzuki India Ltd. has gained 28.03% in the last 6 Months