New Research Reports

Retail Research

Q4FY25 numbers were weak as core operating performance was weak while asset quality trends improved mainly led by higher write off. Net interest income (NII) at Rs. 11,020 crore (below estimates) down by 7% y-o-y/ 3% q-o-q.

Vijaya’s Q4FY25 results were a slight miss on our estimates (2%/3% on sales/EBITDA) due to industry-level headwinds (extended festivities in South India), capacity constraints in Pune centers, and gross margin contraction.

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Retail Research

As per market consensus, Astral Ltd. is currently trading at 1year fwd. P/E of 51x (which is at ~23% discount to 5 year Avg P/E. 67x). The long-term growth story of Astral is intact on the back of superior product mix, leadership within CVC pipes segment, new launches, an extensive distribution network and a healthy balance sheet....

Axis Bank reported a steady Q4FY25, with financial growth driven by robust retail and digital performance, improved asset quality, and disciplined cost management. The bank's investments in technology and branch expansion are expected to drive customer growth and enhance overall performance. Axis Bank's asset quality remains a key strength, with one of the lowest NPA ratios among large private banks, supported by strong provision coverage and declining slippage rates. Additionally, Axis Bank is expected to sustain healthy credit growth, supported by a...

expected to support earnings recovery. The bank is projected to exit FY26 with a Return on Assets (ROA) of 1% and sustain an ROA above 1% throughout FY27. With stress in the microfinance segment subsiding, we assign an "Accumulate" rating to the stock, with a target price of 68, based on 1.1x FY27E Book Value per Share (BVPS)....