1. Bharat Electronics (BEL): 

This aerospace & defence company rose 2.4% over the past week after the Indian Army reportedly issued a Rs 30,000 crore tender for the Quick Reaction Surface-to-Air Missile (QRSAM) project on September 29, appointing BEL as the lead integrator. The project covers the procurement of 5-6 regiments of the indigenously developed ‘Anant Shastra’ missile system. This news adds to a strong year for the stock, which has climbed 45.3% over the past year, outperforming the Nifty 50 index.

The company won orders worth Rs 712 crore on September 16 for IT infrastructure and cybersecurity solutions. It also secured another Rs 1,092 crore in orders for projects like upgrading electronic warfare systems, enhancing the defence network, and supplying tank subsystems. These consistent wins have helped increase the company's order book to over Rs 1 lakh crore.

BEL’s Q1FY26 revenue grew 3.5% YoY, but missed Forecaster estimates by 8.7% due to order execution delays caused by the geopolitical conflict between Israel and Iran, resulting in supply chain issues. However, a favourable project mix supported a 22.6% YoY jump in net profit, beating estimates by 6.2%. 

Speaking on the company’s order inflow, BEL’s Chairman & Managing Director, Manoj Jain, noted, “We have 4-5 major leads for our drones business, including Archer unmanned aerial vehicles, where big orders are expected. Further opportunities are present in the loitering ammunition, logistics drones and strong traction for anti-drone systems in export markets.”

Reflecting this optimism, Motilal Oswal Financial Services maintains its 'Buy' rating on BEL with a target price of Rs 490, an upside of 18.7%. The brokerage expects BEL to deliver revenue and net profit CAGRs of 17.8% and 17.4%, respectively, over FY26-28.

2. Lupin:

This pharma company jumped over 3% on October 1 following positive news on multiple fronts. The company received US FDA approval for its Rivaroxaban oral suspension, a medication used to treat and prevent blood clots in children. This newly approved drug has estimated annual sales of approximately $11 million (~Rs 98 crore) in the US.

Adding to the optimism, the Trump administration clarified that the 100% tariff would apply only to branded and patented drugs, not the generic medicines, which make up most Indian exports to the US. Lupin earns about 40% of its revenue from the US. Its revenue from US generics grew 22% YoY to $282 million (~Rs 2,500 crore) in Q1FY26.

Earlier this week, Lupin’s subsidiary, Nanomi BV, acquired VISUfarma for €190 million (Rs 1,685 crore). This Amsterdam-based eyecare company has a presence in major European countries, including Italy, the UK, Spain, Germany, and France. The move could be beneficial for the company, as countries with trade agreements, like Europe and Japan, are exempted from US tariffs on pharma products.

CEO Vinita Gupta said the company is considering steps to manage possible tariffs. “We may move a few high-value products to our US manufacturing site if tariffs are imposed. We are also exploring shifting product rights to the US, which may raise some tax costs but will benefit us, especially for high-value products made in India,” she said. Gupta added that a 10–15% tariff in the US should be manageable, but higher tariffs could affect the company’s operations.

Trendlyne’s Forecaster estimates Lupin’s profit to rise 47% in Q2FY26, with revenue growth of 59% to Rs 6,580 crore. The stock appears undervalued based on its current and future earnings. Its current price-to-earnings (PE) ratio of 24.5 is well below its 5-year average of 54.2.

Sharekhan has a ‘Buy’ rating on Lupin, pointing to stronger sales in India for diabetes, heart, and respiratory medicines, along with the launch of complex generics and specialty products in the US. It expects the company’s revenue to grow at a CAGR of 11% over FY26–27, with margins steady at around 25%.

3. Poly Medicure:

This medical device manufacturer rose 2.5% on September 25 after announcing the acquisition of 100% of Medistream SA, the parent company of the Citieffe Group, for €31 million (approximately Rs 324 crore). The deal marks the company’s strategic entry into the global orthopaedics market.

Citieffe, an Italian manufacturer, specialises in the orthopaedic trauma and extremities segment, with operations in Italy, the USA, and Mexico. The purchase adds a significant new business line to Poly Medicure’s portfolio, diversifying beyond its core focus on cardiology, critical care, and renal care.

Rahul Gautam, President of Strategy and Corporate Development, highlighted the market's potential: “Orthopaedics is obviously a large segment in the overall medical devices sector. It's about $61 billion, growing at 3 to 4%. Within that, trauma and extremity is the largest segment at about $12 billion, and it's growing the fastest at about 6 to 7%.”

This follows the September 3 acquisition of the Netherlands-based PendraCare Group for €18.3 million (approximately Rs 188.5 crore). That move was aimed at scaling its global interventional cardiology business. Together, these acquisitions, funded by a ~Rs 1,000 crore QIP in late 2024, strengthen Poly Medicure’s international presence and diversify its revenue streams.

Financially, the company is on solid ground. Q1FY26 revenue grew 10.8% YoY, while net profit soared 25.7%. This performance was fueled by a 20.1% jump in domestic revenue, credited to strong demand from private hospitals and new product launches. MD Himanshu Baid remains upbeat: “We continue to remain bullish on the domestic market and reiterate our guidance for revenue growth of 30% for the domestic business for FY26.”

However, analysts are cautious about the Citieffe Group acquisition. Systematix kept its ‘Hold’ rating, citing fierce competition in the orthopaedics market. While the acquisition is strategically positive for the long term, the company faces near-term hurdles: integrating the new firm, optimising costs, and scaling up in the highly competitive US market. Reflecting this cautious outlook, the brokerage's price target suggests a limited upside of just 5.5% from current levels, despite the company's promising move into high-value orthopaedics.

4. APL Apollo Tubes:

The stock of this iron & steel products company closed 2.7% higher on October 1 after it reported positive sales volume growth in Q2FY26. The company's sales volume grew by 7.6% from the previous quarter, hitting over 855,000 tonnes. Its ‘Apollo Structural’ products were the star performer, with sales in that category surging by nearly 20%.

This positive sales report comes despite management's earlier concerns over US tariffs and a slowdown in government infrastructure spending during the first half of the year. However, Chairman Sanjay Gupta expects a significant turnaround in the coming months, backed by increased government budget allocations for infrastructure. “We are ready with our capacity, product range, and distribution network,” he said, adding that he expects the second half of the year to be much stronger than the first.

The strong Q2 sales mark a welcome acceleration from the first quarter, when revenue grew by just 3.9% compared to the same period last year due to geopolitical issues and an early monsoon. Trendlyne’s Forecaster estimates its revenue to grow by 8.4% in Q2, due to expected capacity expansions and demand recovery from railways, aviation, real estate and infrastructure projects. The stock features in a screener of companies which have shown relative outperformance as compared to the industry over the past month.

Looking at the bigger picture, APL Apollo is in the midst of an ambitious expansion to increase its production capacity from 4.5 to 6.8 million tonnes over the next few years. After the slow start to the year, the company has adjusted its full-year forecast, now expecting sales volume to grow by 10-15%, down from an earlier 15-20% projection.

Analysts at Geojit BNP Paribas are echoing management’s positive outlook. They see strong growth ahead, driven by the national infrastructure push and rising demand for structural steel. The firm expects a strong recovery in the second half of the year and believes APL Apollo is well-positioned for sustained growth, maintaining a ‘Buy’ rating on the stock with a price target of Rs 1,854.

5. Premier Energies:

This electrical equipment maker has risen 2.3% over the past month, driven by new order wins. On September 29, Premier Energies secured two orders worth $20 million (~Rs 177 crore) to supply and install solar power systems in Benin, West Africa. The project also includes installing rooftop solar systems, solar streetlights, and water heaters.

Earlier in September, the company’s subsidiaries secured orders worth Rs 2,703 crore for supplying solar photovoltaic (PV) modules and cells with a total capacity of 2,059 MW. These recent wins have significantly boosted Premier Energies' order book, which has now reached over Rs 11,000 crore in Q2FY26, up 76.5% YoY. 

This comes as India's solar sector is set for a transformation, with the government targeting 500 GW of renewable capacity by 2030. Electricity demand is projected to grow 5.8% annually by 2030, with solar energy’s contribution expected to jump from 7.9% to 19.2%. The company plans to boost its solar cell and module manufacturing, tapping into the government’s push for self-reliance in the solar energy sector.

The company is also expanding into related areas like ingots, wafers, battery storage, and solar inverters. The management expects this to significantly boost revenue, projecting a three-to-four-fold increase over the next two years.

Premier Energies plans to expand its cell capacity threefold to 10 GW and double its module capacity to 11.1 GW by FY28. Commenting on this, Chief Business Officer Vinay Rustagi said, “We are currently undertaking a Rs 12,500 crore investment over the next three years to indigenise the entire solar value chain in India.”

Analysts believe this expansion, supported by 10GW of ingot-wafer backward integration and vertical moves into BESS and inverters, positions the firm to benefit from government policies supporting local solar manufacturing. Based on this outlook, Avendus Spark has initiated coverage on Premier Energies with an 'Accumulate' rating and a Rs 1,100 price target.

Trendlyne's analysts identify stocks that are seeing interesting price movements, analyst calls, or new developments. These are not buy recommendations