1. InterGlobe Aviation (Indigo):

This airline provider rose over 3.5% last week following its Q2FY26 results. The main trigger was its EBITDA margin, which jumped 480 basis points YoY to 18.7%, supported by firm ticket pricing, lower fuel costs, and tight flight schedules that kept occupancy stable at ~83%. 

Revenue grew 9.3% to Rs 18,555 crore. However, the rupee’s fall against the US dollar raised costs on the airline’s $9 billion debt, resulting in a net loss of Rs 2,580 crore. Excluding foreign exchange losses, net profit more than doubled to Rs 104 crore. Per-flight costs are expected to rise slightly as IndiGo adds capacity through damp leases amid grounding of 40 aircraft due to engine issues.

CFO Gaurav Negi outlined plans to expand IndiGo’s self-owned fleet and build an in-house maintenance facility in Bengaluru to reduce costs, with an investment of Rs 1,000 crore planned over the next few years. He also noted that the airline “aims for 12–14% capacity growth in FY26”, with revenue expected to remain steady or see a slight increase.

CEO Pieter Elbers highlighted the airline’s growth ambitions, saying IndiGo will accelerate global expansion. He added the airline will enhance premium services, “deploy A321XLRs for longer routes, and strengthen international connectivity”—all supported by a Rs 53,500 crore cash reserve and a strategic partnership with Asian Airlines in Greece.

ICICI Securities maintains a Buy rating with a Rs 6,680 target, pointing to IndiGo's strong market position with limited flight availability across the market as a key advantage. Strong ticket prices and growth in business class and international routes will remain the key drivers of its profitability. 

2. Asian Paints:

This paint company rose 11.7% over the past week, hitting a 52-week high of Rs 2,909.9 on November 14 after strong Q2FY26 results. Net profit grew 43% YoY and revenue increased 6.3%, both beating analyst estimates. The growth was driven by solid demand in the domestic decorative segment and a recovery across industrial and international markets.

MD and CEO Amit Syngle said the domestic decorative segment recorded a 10.9% volume increase, despite a prolonged monsoon. “This growth was driven by our ability to generate demand across urban and rural areas through regional activation and strong marketing efforts,” he said, referring to localised promotional campaigns across different markets.

While core coatings and international businesses performed well, the Home Decor segment continued to face challenges, with revenue declines in most verticals. Syngle acknowledged that this business was “a little bit of a disappointment in terms of how we performed,” adding that the company is putting “a lot of initiatives for the second half of the year to get it in a zone that starts contributing to the core business.” The company is addressing this with network expansion, new product launches for kitchens and wardrobes, and improved tech-led service.

Asian Paints continues to invest in backward integration projects to improve product differentiation. Its Rs 3,000 crore Vinyl Acetate Monomer–Vinyl Acetate Ethylene (VAM–VAE) project is nearing completion, with operations expected to start in Q1FY27. This project aims to cut input costs by producing these raw materials in-house. For FY26, management expects steady demand, helped by the festive and wedding seasons, while a good monsoon should boost rural paint demand by improving farm income and housing activity.

Jefferies has maintained its “Buy” rating and raised its price target to Rs 3,300 from Rs 2,900, post result, noting "the King is back" after several weak quarters. The brokerage points to consistent volume growth and market share gains driven by brand and product investments. It added that despite rising competition, Asian Paints’ deep dealer relationships continue to support its dominance.

3. Bharat Forge:

This casting & forgings producer’s stock climbed 5.8% over the past week, hitting a new 52-week high of Rs 1,411 after posting strong Q2FY26 results. Net profit jumped 22.8% YoY to Rs 299.2 crore, driven by a better product mix, inventory reductions, and lower finance costs. Revenue increased 8.9% to Rs 4,085.4 crore, fueled by strong performance in the defence, aerospace, and casting segments.

Both revenue and net profit beat Forecaster estimates by 7.6% and 17.4%, respectively. Strong performance in the domestic market supported revenue growth, driven by strong order execution in the defence and high-horsepower engines. However, export revenue (~31% of total revenue) fell 20% due to a slowdown in the North American commercial vehicle market, caused by slow freight growth, weak demand, tariff uncertainty, and inventory destocking.

Addressing US exports, Bharat Forge’s Vice Chairman and Joint Managing Director, Amit Kalyani, noted, “Tariff-related impact during Q2 stood at Rs 24 crore. Overall, we remain hopeful that US tariffs on India will settle down in the near term. We expect Q3 performance to be similar to Q2, with an uptick in Q4 from improved execution in the defence segment, new orders in the aerospace segment and a ramp-up of JS Auto.”

Following the results, HDFC Securities maintained its ‘Buy’ rating on Bharat Forge, setting a target price of Rs 1,620, a 16% upside. The brokerage remains positive, citing the long-term potential of the forging business (benefiting from China+1 and Europe+1 strategies) and the defence segment. It expects the company to deliver revenue and net profit CAGRs of 11.9% and 33.6% respectively, over FY26-28.

4. Bajaj Auto:

This 2&3 wheeler manufacturer has gained 1.4% over the past week following the announcement of its Q2 results on November 7. The firm beat Trendlyne’s Forecaster estimates for revenue by 2.2%, and for net profit by 1.2%. Net profit jumped 53% YoY to Rs 2,122 crore, driven by inventory destocking. Revenue grew 19.5%, led by improvements in two-wheeler and commercial vehicle sales.

Bajaj Auto's total vehicle sales grew 6% to 12.9 lakh units in Q2. Executive Director Rakesh Sharma said, “The festive season and recent GST cuts triggered record retail sales, with strong demand for the Pulsar 125cc and 150cc models as customers upgraded.” Looking ahead, the company expects the domestic two-wheeler industry to grow by 6-8% and aims to grow faster than the market in the 125cc+ segment.

Exports were the primary growth driver, surging 13%. The company's international performance was particularly strong, growing 1.5X faster than the industry in key overseas markets. Management expects this momentum to continue, supported by a competitive advantage in markets like Mexico, where Bajaj benefits from lower import tariffs. Total two-wheeler sales for the quarter reached around 11.5 lakh units.

Meanwhile, Bajaj Auto’s electric vehicles business has continued to grow, adding a little over Rs 10,000 crore in revenue in the last two years. Although the company faced supply chain issues (such as a shortage of rare-earth magnets), it expects EV growth to accelerate once these issues ease. It plans to invest Rs 600-700 crore to improve its ICE (internal combustion engine) vehicles and expand its EV lineup.

Following the company’s results, ICICI Direct maintained its ‘Buy’ rating with a Rs 10,250 target price. The brokerage believes that a strong export outlook, leadership in the domestic EV market, and a unique pipeline of upcoming products are expected to drive sustained growth for the company.

5. Aurobindo Pharma:

The stock of this pharmaceutical company climbed over 7% in the past week, even as it reported mixed second-quarter results on November 5th. The company’s net profit grew 8.2% YoY to Rs 581.4 crore, powered by strong performance in the European market. However, its total revenue remained flat, held back by a 17% drop in its Active Pharmaceutical Ingredient (API) business and approval delays at a key manufacturing facility, Eugia Unit-III.

The company’s Q2 net profit missed Trendlyne's Forecaster estimate by 3.9% due to increase in employee expenses and muted growth in the US. As an export-driven company, the US is its largest market, making up 44% of all revenue, with Europe following at 30%. This heavy reliance means any slowdown in the US market can have a significant impact. The stock appears in a screener of companies with rising net cash flow and operating cash flow, supported by its expansion into complex areas such as biosimilars.

The clear star of the quarter was the European business, which continued its strong growth streak with an 18% jump in revenue. The company’s CFO, S. Subramanian, stated they are "firmly on track" to hit their €1 billion annual revenue goal from Europe by the end of FY26. Management also expects its injectable drug business to improve, driven by new product launches and a recent acquisition in the US.

Mr. Subramanian added that the company's new oral dosage facility in China is ramping up. The site, which has already received 10 approvals for Europe, is on track to become profitable by the end of the fiscal year, reinforcing its strategic importance to the company's global network.

Looking ahead, brokerage firm ICICI Direct has maintained a ‘Buy’ rating with a target price of Rs 1,375. It believes the current slowdown is temporary and expects the regulatory logjam at its Eugia manufacturing plant to be resolved by the end of FY26. The firm sees the US business recovering in FY27, while noting that Europe has clearly emerged as the company's new growth driver.

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