New Research Reports

Godrej Agrovet (GOAGRO) demonstrated a resilient performance in FY24 despite facing significant sectoral challenges. With a strategic turnaround underway, the company focuses on structural changes.

The domestic steel demand is expected to be robust, driven by significant capex toward infrastructure development. The capacity expansion of JSW Steel (JSTL) is on track, positioning it well to capitalize on emerging opportunities.

The FY24 annual report key highlights of KEI Industries (KEII) are the company has increased investments in capacity expansion, which is estimated to result in a revenue CAGR of ~15-16%.

We visited Va Tech Wabag’s waste water treatment and desalination plants in Chennai and also
had an interaction with the management. Company has maintained its guidance of 15% revenue
growth and margins of 13-15% for the next 3-5 years.

We upgrade Coforge to Buy with revised price target (PT) of Rs. 8,480 (valued at 40x Sept26E EPS).
At CMP, the stock trades at 48.2/36.5/30.2x its FY25/26/27E EPS.

ICICI Pru Life (IPRU) hosted its Analyst Meet 2024, where it introduced its 3C framework of Customer Centricity, Competency, and Catalyst that will enable it to deliver sustainable VNB growth.

We initiate coverage on Bajaj Finserv (BJFIN) with a BUY recommendation and Sep-25E TP of Rs2,150/share (~16% upside), implying FY26E consolidated P/B of 4.1x.

Following a review of 3M India’s FY24 annual report, our conviction on the company’s performance and potential remains strong

We have believed that a weak content pipeline is to be blamed for the weak performance of the movie exhibition industry over the last year and not a structural shift in consumer behaviour towards OTTs, etc.