New Research Reports

HDFCLIFE performance was marginally below our expectations, APE was at Rs 39.7bn vs our estimate of Rs 40.4bn

U.S. business grew ~41% YoY in Q2FY26, led by specialty & complex launches. Europe up ~27% YoY; Other Developed Markets up ~19%.

LTTS reported a miss on revenue and in-line margins in Q3FY26, partially caused by recalibration of portfolio (primarily hitech).

Polycab India (POLYCAB) reported strong revenue growth of ~46% YoY in 3QFY26, led by ~54% growth in the cable & wire (C&W) segment. However, steep RM cost inflation impacted the C&W segment’s margins.

Federal Bank (FB) reported 3QFY26 PAT of INR10.4b (up 9% YoY/QoQ, 7% beat), led by healthy NIMs (up 12bp QoQ, vs. our estimate of 3bp decline).

DLF’s portfolio of luxury residential development has seen exceptional traction at launch, with Gurugram increasingly emerging as a hub for ultra-luxury housing where DLF enjoys a dominant position.

Angel One (ANGELONE) reported a total income of INR10.3b (up 4% YoY/ 9% QoQ), which was in line with our estimate. For 9MFY26, total income declined 13% YoY to INR28.6b.

We have been positive on asset management space, considering the levers of stable systematic investments and a better yield outlook now led by the passage of recent regulations on TER.

TBO Tek is well-placed for continued growth in the global travel distribution market with the acquisition of Classic Vacations (integrated in Oct-25) adding to its capabilities.

Retail Research