1. Emami:

The stock of this personal products company rose 2.7% on November 27, fueled by a vote of confidence from Goldman Sachs. The global brokerage firm reiterated its ‘Buy’ rating and set an ambitious target price of Rs 825, suggesting the stock could soar by over 60% from current levels.

This optimism comes despite a tough second quarter. Net profit fell 14.8% YoY to Rs 182.3 crore, and revenue dropped 11.5% as sales dipped for key brands like Navratna, Boroplus, and Kesh King. The slump was driven by a “double whammy” of poor timing: delayed stocking of winter products and heavy rains that weakened demand for summer items such as talcum powder.

The company’s Q2 net profit marginally missed Trendlyne's Forecaster estimate by 2.4% as its summer portfolio continued to face pressure amidst excessive rains. Its stock features in a screener of companies where mutual funds have increased shareholding over the past month.

While most categories dipped in Q2, strategic investments grew a solid 16%. October saw a strong turnaround driven by early winter demand. Management now targets double-digit value growth in Q3, further boosted by a lower 5% GST rate on 93% of its portfolio, which is expected to drive volumes in key segments.

Mohan Goenka, the company’s Director and Chairman, is bullish on the third quarter, anticipating high single-digit growth and possibly double-digit growth if winter sales hold up. The company launched 12 new products in the male grooming space, including sunscreens, shower gels, and undereye creams. Looking further ahead, Goenka said: “We believe FY27 will be a stronger year than FY26, as the summer portfolio gains share.”

In their analysis, Goldman Sachs argued that the market has mispriced the stock, claiming that recent earnings volatility is obscuring Emami's solid, underlying growth trajectory. The brokerage expects a strong recovery over the next four quarters but cautioned investors about risks like intense competition, adverse weather conditions, unexpected leadership changes, and overdependence on niche product categories.

2. Inventurus Knowledge Solutions:

This healthcare services provider rose 5.8% last week after Nomura initiated coverage with a ‘Buy’ rating and target price of Rs 2,000. Inventurus Knowledge Solutions (IKS) provides outsourcing and technology solutions to healthcare providers, with nearly 95% of its revenue coming from the US market. Nomura notes that IKS is well-positioned to benefit from prevailing industry trends.

The US healthcare sector is dealing with high costs and regulatory pressures, driving hospitals and insurers to seek partners who can help them streamline operations. The market is projected to grow at around 12% CAGR, reaching Rs 5 lakh crore (~$59 billion) by 2028. Nomura expects demand to be driven by greater adoption of digital systems that connect healthcare providers and improve care coordination.

IKS’ revenue rose 22% YoY in Q2FY26, thanks to increased business from large physician groups and higher demand for billing & collection services. Net profit surged 60%, helped by cost control through AI-enabled automation. The acquisition of AQuity Solutions in October 2023 added a sizable client base, allowing IKS to cross-sell services and lift its EBITDA margin by 530 bps to 34.8%.

CEO Sachin Gupta said, “We reached the mid-30s in margins earlier than expected, driven by strong growth in our top 10 customers. We’re comfortable with the margin range we are at.” He added that IKS has identified around 50 customers, each with a potential revenue of about Rs 450 crore annually over the next five years.

CFO Nithya Balasubramanian noted that R&D spending has increased to nearly 5% of revenue as the company develops its AI-native platform. She added that IKS currently has a net debt of Rs 412 crore and said excess cash will be used to reduce debt, keeping it on track to be debt-free by FY27.

3. Tilaknagar Industries:

This beverage manufacturer rose 3.2% on November 20 after it launched Seven Islands Pure Malt Whisky, marking its entry into the premium segment. The move signals a major shift for the brandy-focused company, which is now establishing whisky as a second major growth engine.

Management says long-term demand trends are fueling the expansion. “With whisky commanding over 60% of India’s spirits market, expanding into this category was the next natural step for us,” explained Amit Dahanukar, Chairman and Managing Director.

On October 8, the company won approval from the Competition Commission of India to acquire the Imperial Blue whisky business from Pernod Ricard for Rs 4,150 crore. The deal is set to close in Q3FY26. “The acquisition will be funded through an almost equal combination of equity and debt,” Dahanukar confirmed.

In Q2FY26, revenue climbed 6.2% YoY, driven by a 16.2% jump in volume and market share gains. However, this growth missed analyst expectations after monsoon disruptions dampened consumption. Higher advertising costs squeezed margins to 15.1% from 17.5%, causing net profit to fall 9.5%.

To strengthen its premium push, Tilaknagar Industries raised its stake in Spaceman Spirits Lab to 21.3%. The move unlocks access to high-growth craft spirits like Samsara Gin, Sitara Rum, and Amara Vodka, allowing the company to scale them at low cost through its own distribution network. Tilaknagar is also expanding capacity at its Prag Distillery and launching its Mansion House Whisky and Monarch Legacy Edition Brandy in new markets.

Choice International Equities maintains its ‘Buy’ rating and a Rs 650 price target, upgrading its revenue forecasts for FY26 and FY27. The brokerage sees the Imperial Blue deal as a major boost to long-term scale but warns of near-term margin pressure.

4. Voltas:

This consumer electronics maker has risen 1.6% since November 25 after Life Insurance Corp of India (LIC) bought a 2% stake worth Rs 914.9 crore through open market purchases. This move brings LIC's total holding in the company to approximately 7.1%.

Voltas reported a weak set of numbers for the September quarter. The company’s revenue declined 10.4% YoY to Rs 2,347.3 crore, missing Trendlyne’s Forecaster estimates by 2.7%. Net profit fell sharply by 74.4% to Rs 34.3 crore, 63% below estimates.

The company’s cooling products division, which accounts for more than half of its total revenue, saw a 23% decline. The company highlighted that this slowdown was caused by an early monsoon, delayed customer purchases ahead of GST changes, and margin pressures.

In contrast, the electro-mechanical projects segment provided a bright spot, with its revenue rising 10% and its profit nearly doubling during the quarter. The company said this strong performance was driven by steady progress on domestic projects in the electrical, water, and solar sectors.

Voltas retained its market leadership in air conditioners, increasing its market share to 18.5% from 17.8% in the previous quarter. This was helped by new product launches, expanded manufacturing, and a wider sales network. The company aims to further strengthen its position by expanding its premium lineup with 5-star, internet-connected, AI-based models, while still focusing on the popular, high-volume 3-star segment.

Commenting on the company’s performance, Mukundan Menon, Managing Director of Voltas, said, “The second quarter was marked by external challenges, but our fundamentals remain strong. The GST reduction and upcoming new energy efficiency standards will encourage customers who have been waiting to buy in the coming quarters.”

Emkay Global maintains its ‘Buy’ rating on the company with a Rs 1,500 target price. The brokerage believes that despite current challenges, Voltas’ earnings will improve as seasonality normalises in the second half of the year.

5. NBCC (India):

This construction & engineering stock climbed 2.6% on November 20 after landing a Rs 2,966 crore contract from the Nagpur Metropolitan Region Development Authority (NMRDA). This involves developing Phase 1 of the Naveen Nagpur project, an urban development spanning 692 hectares.

The same day, NBCC also sold 609 residential units in Greater Noida through an e-auction, generating Rs 1,069.4 crore. The company won additional orders worth Rs 608.3 crore on November 17 and 24. The largest among these is a project to build an integrated township for the Damodar Valley Corp.

In Q2FY26, NBCC’s revenue jumped 19.5% YoY to Rs 3,017.2 crore, driven by higher execution in its PMC business. Net profit grew 25.7% to Rs 153.5 crore, thanks to lower inventory expenses and write-offs. Increased contributions from ongoing projects, including the completion of phase-1 of the residential development in Netaji Nagar and phase-1 of the Amrapali project, fueled revenue growth. Management expects Phase 2 of the Amrapali project to contribute significantly in the upcoming quarters, with potential sales of Rs 17,000 crore.

Following the results, NBCC’s Chairman & Managing Director, KP Mahadevaswamy, noted, “We are confident of achieving Rs 14,000-15,000 crore in revenue with an EBITDA margin of 6-6.5% during FY26, fueled by completion of projects in the real estate business during H2FY26.”

Elara Capital retains its ‘Buy’ call on NBCC, with a target price of Rs 165 per share, an upside of 41.4%. The brokerage remains positive on the stock due to NBCC’s expertise in redeveloping government land, reviving stalled private realty projects, and buildings & hospitals. It believes the company's asset-light model, stable margins, and lean working capital cycle will drive strong return ratios, exceeding 20%.

Trendlyne’s Forecaster estimates NBCC’s revenue to grow 8.7% to Rs 13,089.4 crore and net profit to jump 33.1% to Rs 720 crore in FY26. While the stock is overvalued based on its current PE, it is undervalued at future earnings estimates.

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