1. Dixon Technologies (India):

Shares of this electronics maker rose 7.1% over three trading sessions since May 13. Management announced that a proposed joint venture with Vivo is “very close” to approval, fueling expectations of a significant jump in smartphone manufacturing.

CEO Atul Lall explained the potential: Vivo sold 3.5 crore smartphones in India last year. The joint venture could handle two-thirds of that volume, adding 2.2 crore units to Dixon’s annual production. An ongoing investigation into Vivo by the Enforcement Directorate has delayed the deal's approval.

This optimism, however, followed mixed Q4FY26 results. Revenue grew just 2.1%, while net profit plunged 36%. Weak smartphone demand, pricier memory chips, and the end of a key government incentive (PLI scheme) dragged performance. The company produced just 56 lakh smartphones, falling short of its 70 lakh target. The expired PLI scheme is also expected to squeeze FY27 profits.

Lall however, remains confident. “Without Vivo also, the company will keep growing at almost 15–17%,” he said, eyeing a revenue target of over Rs 56,000 crore for FY27. He expects existing mobile business and rapid growth in telecom equipment and IT hardware to power this growth.

After years of dominance in mobile manufacturing, Dixon now enters high-margin industrial electronics manufacturing services (EMS) sectors: aerospace, defence, automotive, and medical electronics. Lall admitted that they "possibly should have tried it two years back," acknowledging the need to diversify from Dixon’s heavy smartphone reliance. He said, "High-end specialty EMS business is a part of our next phase of transformational growth.” Currently, roughly 10% of Dixon's revenue comes from non-mobile segments.

Following the results, HDFC Securities downgraded the stock to ‘Reduce’ with a Rs 10,560 price target. The brokerage pointed to a tough outlook, highlighting the end of the PLI scheme, a handset industry slowdown, and weak demand. It believes lower smartphone volumes and a lack of immediate positive news will hold the stock back.

2. Ather Energy:

The stock of this two and three-wheeler manufacturer rose over 3% in the past week, following a push from Prime Minister Narendra Modi. The PM urged citizens to cut fuel consumption by carpooling and accelerating the switch to electric vehicles amid rising energy concerns due to the West Asia crisis.

The company’s Q4 results showed significant progress, with its net loss shrinking by 57.2% to Rs 100.4 crore. Revenue surged 76.5% to Rs 1,213.8 crore, largely thanks to the massive success of the new "Rizta" scooter. Since its 2024 launch, the Rizta has already hit the 3 lakh sales milestone, accounting for 76% of Ather’s total volume in FY26. 

Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, “ Rizta has expanded our presence beyond Southern India. In states like Maharashtra and Gujarat, our market share grew 4X, rising from 4.1% in Q1FY25 to 17.3% in Q4FY26. Northern states also saw share growth of over 3X during the same period.”

Ather’s quarterly revenue surpassed Trendlyne’s Forecaster estimate by 8.9%. The company delivered 83,418 vehicles in Q4, up 76%, supported by the expansion of its retail network to 700 experience centres, including 100 additions during the quarter. The stock appears on a screener for companies which have shown relative outperformance vs the industry over the past month.

Ather Energy is riding the EV wave, but even electric dreams get expensive when global politics interfere. Despite high demand, the company struggled with a "commodity supercycle" triggered by the US-Iran conflict, which spiked raw material prices and squeezed production capacity. The company’s CEO, Tarun Mehta, said, “Lithium particularly was a pretty crazy commodity, it has been going up from a base of $8 per kilogram to about $24 per kilogram in a very short time. Even with some cooling off, it’s still up over 2.5X. With overall commodity inflation hitting 40% to 50%, this is the largest cost surge our industry has ever seen.” 

Equirus Securities has assigned an ‘Accumulate’ rating with a target price of Rs 1,010. The brokerage is optimistic about Ather’s unique products and improving profit margins as sales scale up. However, it warned that the company faces stiff competition as traditional manufacturers launch new models in the mass-market EV segment.

3. Pidilite Industries:

This adhesive manufacturer surged 1.2% over the past week after reporting Q4 results. Revenue grew 13% YoY, while net profit jumped 37%, driven by volume growth of 15%, well above the range seen in recent quarters. MD Sudhanshu Vats attributed the growth to rising discretionary spending after GST cuts and improving consumer sentiment.

Pidilite’s retail segment, which contributes over 75% of revenue, continued to outperform the B2B segment, helping EBITDA margin expand 280 basis points to 23.4%. Referring to brands such as Fevicol, Dr Fixit, M Seal, Fevikwik, and Roff, Executive Director (Finance) Sandeep Batra said, “All our batsmen played quite well.”

However, rising raw material costs remain a key concern. The West Asia conflict has pushed overall raw material prices up by more than 40%, largely due to a sharp rise in Vinyl Acetate Monomer (VAM) price, which has risen 70%. Batra noted that VAM accounted for less than 10% of total raw material costs last year, although its share could increase this year because of higher prices.

In a bid to offset the impact, the company implemented two price hikes, of 4% to 5% in mid April and another 7% to 8% in early May. Vats said, “We are going to look at raw material prices in absolute rupee terms and continue to pass that on.” He added that the company will continue to focus on growth while maintaining its EBITDA margin guidance of 20% to 24%.

To support future growth, the company plans to commission a plant in western India this quarter to manufacture premium white glue and Fevicol products. Pidilite’s capex stood at around Rs 570 crore in FY26, up 32% YoY.

PL Capital maintains a ‘Buy’ rating on the stock, although it has slightly lowered the target price to Rs 1,729. The brokerage expects healthy retail demand, supported by discretionary spending. However, it believes last quarter’s performance may not sustain in the coming quarters because margins are likely at a cyclical peak and can get affected by volatile input costs.

4. Acutaas Chemicals:

This pharmaceuticals company rose 3.1% on May 13 and hit a 52-week high of Rs 2,849.9 after its FY26 net profit beat Forecaster estimates by 10.2%. Net profit more than doubled from the previous year to Rs 356.4 crore, with CFO Bhavin Shah attributing the surge to a rise in gross margins. "EBITDA for FY26 was Rs 480.4 crore, which is 2x compared to the same period last year," he said.

In Q4FY26, revenue jumped 40.3% YoY to Rs 432.8 crore, driven by its contract manufacturing business and a sharp recovery in its semiconductor chemicals unit. Net profit rose 114.1%, with margins rising to 42.4%, as the company phased out commodity chemicals in favour of higher-margin segments.

Acutaas also stands to benefit from its 10-year supply contract with Fermion, which makes drug ingredients for German pharma giant Bayer. Bayer has guided 50% revenue growth for CY26, making Acutaas a beneficiary as Fermion's primary supplier. 

The company is targeting Rs 1,000 crore in contract drug manufacturing revenue by FY28. Four drug ingredients have already cleared customer approvals and await regulatory sign-off. VP of Strategy Abhishek Patel said, "Each of these four drugs could generate Rs 50 crore to Rs 100 crore in peak annual revenue," adding the pipeline should keep profitability steady.

Beyond pharma, Acutaas has been building a semiconductor chemicals business through Indichem, a joint venture in South Korea. Samples are already with Japanese and Korean chip makers, and the facility is coming online ahead of schedule.

Chairman and MD Naresh Patel said the broader strategy is starting to bear fruit. "We are confident of 25% revenue growth in FY27. By FY28, battery chemicals and semiconductors will each be self-sustaining businesses in their own right," he said.

IDBI Capital reiterated its 'Buy' rating with a higher target price of Rs 3,001. The brokerage revised EBITDA estimates upward by 14% for FY27, citing stronger margins than previously expected. It forecasts net profit growing at 28% annually through FY28, on the back of rising drug manufacturing volumes and a premiumising product mix.

5. Lupin: 

This pharmaceutical stock plunged 7.5% last week after management issued a cautious FY27 outlook. CEO Vinita Gupta said, “We expect to grow our top line in high single digits with EBITDA margins at 25% in FY27,” down from 29.7% in FY26, citing geopolitical uncertainty and rising competition in the US market. She added that US revenue could decline by high single or low double digits during the year.

Management issued weak guidance despite Lupin delivering strong Q4FY26 results. Revenue rose 33% YoY, supported by growth across key markets, while net profit surged 89% due to a richer product mix and stronger profitability in branded businesses. Both revenue and profit comfortably beat Forecaster estimates. New launches and higher base volumes drove growth in the US, which contributes to 47.5% of the total revenue.

The domestic prescription business outperformed the broader Indian pharma market by 290 basis points, helping India sales contribute over 25% to revenue. Emerging markets delivered growth as well, led by Brazil, Mexico, South Africa, and the Philippines. Operating margins expanded by 620 basis points, thanks to lower dependence on contract manufacturing in India.

Looking ahead, management expects new launches to support volume growth despite near-term pressure in the US generics market. Lupin plans to launch its first biosimilars in the US during FY27 and build a pipeline of 60 injectable products along with a growing respiratory portfolio. In India, the company plans 20 new launches, including Empagliflozin for diabetes, while Semaglutide is expected to launch in South Africa by late FY27, strengthening its diabetes and obesity portfolio in emerging markets.

Following the results, BOB Capital Markets retained its ‘Buy’ rating on Lupin, with a target price of Rs 2,900, implying a 27.4% upside. The brokerage expects complex generic launches, biosimilars, and growth in emerging markets to support long-term performance, with analysts projecting annual revenue and profit growth of 8% and 13%, respectively, over FY27–29.

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