New Research Reports

During the March derivatives series, Nifty Futures witnessed a sharp correction of over 12%, marking the steepest decline since the COVID-19 market crash.

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Retail Research

MARKET SNAPSHOT

Avenue Supermarts (DMart)’s revenue growth trajectory improved to 19% YoY in 4QFY26 (vs. 15% YoY in 9MFY26), driven by acceleration in store additions (though most of it was back-ended) and likely recovery in SSSG (vs. ~6% in the last few quarters).

Retail Research

Retail Research

Our Top Positive Result Plays: UltraTech Cement and Dalmia Bharat Ltd

Asian markets are trading in the green, with the Nikkei up 1.2%, while the Hang Seng and Shanghai markets are closed on account of a festival holiday.

Newsletter

FY26 concluded on a strong note as Mar'26 wholesale volumes saw sustained momentum across segments amid geopolitical tensions. However, continued gas and supply chain constraints might result in production cuts and cost pressure as the shortterm sentiment remains cautiously optimistic. PV growth during the month continued to be driven by non-metro locations, with SUVs still gaining preference. Inventory was 27-29 days in Feb'26, lower than 32-34days in Jan'26, indicating better wholesaleretail alignment. 2W growth remained broad based with urban slightly outpacing rural. MHCV growth slowed with the bus segment seeing decline. Replacement demand and government projects could be offset somewhat by supply chain risks and the impact on select sectors. Tractor growth was strong due to Chaitra Navratri and positive rabi...

RAC segment expected to post healthy pick up in quarter on summer-led demand for south India market W&C companies under our coverage is expected to post double digit revenue growth in Q4FY26, driven by improved secondary sales, and commodity-led realization gains. However, the FMEG segment is likely to remain modest, supported by strong traction in solar products and steady recovery across appliances, fans, and lighting. RAC segment is expected to deliver healthy growth led by summer-driven demand revival, pickup in secondary sales, and premiumisation from energy-efficient models. We...

Primary market activity remains steady this week despite volatility, with four new issues opening for subscription. One company is scheduled to list on the exchanges, following five listings last week.

Emami Ltd. Has broadened its presence in the Ayurveda Beverage segment by increasing the stake to 100% in the Axiom Ayurveda making it as its wholly owned subsidiary. Emami previously held 26.5% stake in Axiom which it acquired in October 2023.

India's auto industry closed FY26 on a strong and broad-based note in March, sustaining healthy double-digit year-on-year retail growth across passenger vehicles, two-wheelers, and commercial vehicles.

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Retail Research

MARKET SNAPSHOT

Global Disruptions: Middle East Turmoil and India's Economic Challenges