1. Indian Hotels Co (IHCL):

This hotel company rose 2.2% last week as it moved beyond its core hotel business and entered into the wellness space. The company acquired a 51% stake in Atmantan (Sparsh Infratech), a Pune-based wellness resort, for Rs 240 crore. Sparsh recorded a turnover of Rs 77 crore in FY25, up 19% from last year.

With this deal, IHCL plans to build a wellness platform using Atmantan’s programs and expertise. The idea is to tap rising demand for wellness travel and add a business that earns better margins than regular hotel rooms. According to Jefferies, this step can “improve cross-selling potential and build a cycle-resilient business mix without stressing the balance sheet.”

In Q2FY26, Indian Hotels posted a 15% YoY rise in net profit to Rs 285 crore. Revenue grew 12%, supported by better room rates and higher management fees from its asset-light hotel network. Costs were largely under control, and despite weak air travel and fewer international tourists, the EBITDA margin improved by 90 bps to 30.8%, as average room rates saw a rise.

CEO Puneet Chhatwal said bookings for November and December remain strong, adding that the company expects solid growth in the next two quarters. He confirmed the outlook of double-digit revenue growth for FY26, supported by major diplomatic events and a busy wedding season.

CFO Ankur Dalwani guided for capex of over Rs 1,000 crore in FY26 and about Rs 1,200 crore in FY27. He added that the Clarks acquisition — a heritage hotel chain in North India — is likely to “add roughly Rs 100 crore in profits” over the medium term. Management contracts, where the company operates hotels it doesn’t own, continue to deliver margins above 70%.

ICICI Securities maintains a Buy rating on the stock with a target of Rs 915, pointing to limited room supply in key markets. Strong room rates, upgraded premium hotels, and rising management fee income are expected to drive a 19.5% profit CAGR. This should take profits to around Rs 4,724 crore over the next three years.

2. Prestige Estates Projects:

The realty giant jumped 3.2% on November 13 after announcing its Q2FY26 results. Net profit skyrocketed 124% YoY to Rs 430.3 crore, beating Forecaster estimates. Revenue climbed 5.5%, fueled by steady demand for properties in Bengaluru, NCR, and Mumbai.

“We achieved a record-breaking sales of Rs 18,143 crore in the first half of this financial year, surpassing our entire FY25 sales in just 6 months," said Executive Director Zayd Noaman. The NCR region alone drove 45% of H1 sales, a major pivot for the Bangalore-centric firm. With old inventory running low, new project launches powered 63% of bookings.

Prestige reaffirms its confident outlook for FY26, holding its presales guidance at Rs 27,000 crore, with most of it already secured in H1. The company is also expanding aggressively beyond its home turf, especially in West India. Management is earmarking Rs 8,000–10,000 crore in capex over the next three years to fuel growth in Mumbai and Pune. As part of this strategy, six Mumbai projects are already underway, with nearly 15 more planned for the region. Tariq Ahmed, chief executive officer for West India, said the strategy is to “expand more within Mumbai and explore other cities over time.” 

Despite this success, management is hitting the brakes on further price hikes. MD Irfan Razack said prices have “reached certain peaks” and raising them could crush demand and affordability. The focus, he noted, has shifted to maintaining sales volume and protecting the bottom line, not chasing higher prices.

Following the results, Axis Direct reiterated its ‘Buy’ rating, pointing to a massive Rs 43,000 crore launch pipeline and the company’s clear roadmap for upcoming projects. The brokerage believes this pipeline will power the company to smash its FY26 presales guidance.

3. Jubilant Foodworks:

This QSR player gained 7.3% on November 14 following the announcement of its Q2 results. The company's net profit surged almost threefold to Rs 186 crore, helped by lower finance costs and a one-time gain of Rs 84.7 crore from the sale of a Russian subsidiary. 

Jubilant FoodWorks, through its step-down subsidiary Fidesrus BV, sold its 100% stake in Russian unit Pizza Restaurants LLC in July, as part of a strategy to focus on core markets (India, Sri Lanka, Bangladesh, and Nepal) and streamline overseas operations.

Meanwhile, revenue grew 18.7% YoY to Rs 2,355.4 crore, driven by new store openings and stronger performance from Domino's India. It features in a screener of stocks with increasing revenue for the past two quarters. During the quarter, Domino’s Pizza reported like-for-like or LFL growth of 9.1%.

Analysts noted that while most fast-food chains faced pressures from muted demand and subdued foot traffic, Jubilant FoodWorks stood out with growth powered by its delivery business. The company also highlighted that strong demand for its premium offerings in Tier-2/3 cities helped offset slower growth in major tech hubs like Hyderabad, Bengaluru, and Gurugram.

Commenting on the company’s performance, MD and CEO Sameer Khetarpal said, “We remain optimistic about our performance in the second half of the year, with our October performance already ahead of plan. We are targeting revenue growth in the mid-teens for the full year, supported by 5-7% growth at our existing stores.” The company also aims to increase its operating profit margin by 200 bps by FY28, driven by making its stores more productive, and reducing losses in its non-Domino's brands.

The company has continued to expand its store network in the second quarter, opening 81 new Domino’s outlets and taking the total to 2,321 stores in India.

HSBC upgraded its rating on Jubilant Foodworks to a ‘Buy’ with a target price of Rs 660. The brokerage attributes the recent stock correction, strong quality of the company's franchise, ongoing strategic initiatives, and moderating competition as reasons for the upgrade.

4. Multi Commodity Exchange of India (MCX):

The stock of this capital markets company scaled a fresh 52-week high of Rs 9,975 on November 20, riding the wave of stellar second-quarter results announced earlier in the month. Its net profit surged 41.5% to Rs 156.4 crore compared to last year, fueled by a boom in the futures segment. Revenue also climbed nearly 35%, as sharp price swings in gold and silver drove a flurry of trading activity on the platform.

The company’s Q2 net profit marginally missed Trendlyne's Forecaster estimate by 0.9% due to an increase in employee expenses and subdued participation from Portfolio Management Services (PMS) clients. Its stock features in a screener of companies with no debt.

The exchange saw a massive spike in volume in the quarter, with the average daily turnover for futures jumping 55% and options rising 25%. More people are participating, with active client numbers up 16%. To keep this momentum going, MCX introduced several new products, including new monthly contracts for Silver and Nickel, and options on its Bullion Index. Management confirmed they have a robust pipeline of future products with regulatory approvals already in hand.

CEO Praveena Rai noted a shift in who is trading, pointing out that while domestic mutual funds and large institutional funds are very active, portfolio management services are yet to catch up. Addressing the potential launch of weekly options, she clarified that they are still under evaluation with no set timeline, as the exchange carefully reviews market dynamics and regulations.

Brokerage firm ICICI Direct has assigned a ‘Hold’ rating to the stock with a target price of Rs 10,000. The firm views MCX as a solid play on commodity volatility, particularly in oil and gold. With healthy traction in options trading and a steady stream of new clients and products, analysts expect steady business growth over the long term.

5. Alkem Laboratories:

This pharmaceutical manufacturer’s stock touched a new 52-week high of Rs 5,868 on November 13 after posting strong Q2FY26 results. Net profit grew 11.1% YoY to Rs 765.1 crore, driven by lower raw material expenses and delayed research & development expenses. Revenue jumped 15.7% to Rs 4,104.7 crore, supported by improvements in both domestic and international markets. Both net profit and revenue beat Forecaster estimates by 5.5% and 6.4%, respectively.

Alkem Labs’ six therapies, including anti-infectives, gastrointestinal, and vitamins, minerals & nutrients, outperformed the Indian pharmaceutical market (IPM), helping the Indian business (70% of revenue) to grow. Recovery in the US business (19% of revenue) was driven by revenue from the launch of Sacubitril & Valsartan (medication used to treat chronic heart failure), and expansion in the contract development & manufacturing organisation (CDMO) vertical. Meanwhile, strong volume growth in Australia and Germany supported improvement in other international markets. 

Following the results, Alkem Labs’ Chief Executive Officer, Vivek Gupta, noted, “We upgrade the US business estimates to mid-single-digit growth from the earlier estimates of 5%, driven by 3-4 potential product launches in H2FY26. The US CDMO plant is also slated to be operational in Q3FY26. We believe that the Indian market will outperform the market growth rate, which is expected to be around 8-8.5%, by 100-150 bps.”

Post results, ICICI Securities maintained its ‘Buy’ call on Alkem Labs, raising its target price to Rs 6,600 per share, a 15.8% upside. The brokerage remains positive on the company, supported by a strong rebound in branded formulations and trade generics, along with better traction in Enzene (Alkem's biotech research arm) and medtech ventures. It expects the company to deliver revenue and EBITDA CAGRs of 11.5% and 14.9%, respectively, over FY26-28.

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