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Retail Research

Consumption trends in Q1FY26E remained uneven, with rural markets continuing to outperform urban counterparts. Improved monsoon sentiment and widespread distribution of government-sponsored benefits supported rural demand, which remained resilient across staples and personal care categories.

We have revised out FY26E/FY27E EPS estimates by -28.1%/-25.9% on account
of slower-than-anticipated recovery in media and healthcare, weak revenue
visibility, and a delayed margin normalization trajectory, with EBIT margins now
expected to remain below FY25 levels over near to medium term. Persistent macro headwinds and muted vertical traction warrant a cautious stance until greater clarity emerges on growth and profitability recovery.

Laxmi Dental (Laxmiden) is distinguished as India’s only fully integrated provider of dental solutions, led by a highly experienced management team with extensive expertise in the field.

Billet-Ex-Raipur: Billet prices remained flat WoW at Rs 36,800/tonne, amid muted demand in finished steel segment. Chinese HRC: Chinese HRC prices increased by 1.1% WoW to Rs 38,714/tonne, driven by speculations over significant property stimulus...

The stock is currently not under our coverage, and we do not have a view on the same. The stock currently trades at 29x of its FY25 EPS.

With an 18% upside from the CMP, we maintain a BUY rating on the stock.

Asian Markets are trading mixed as investors assess the impact of U.S. President Donald Trump's 30% tariffs on the European Union and Mexico that were imposed over the weekend. Nikkei is down 0.42%, while Hang Seng and Shanghai Composite are up 0.1% and 0.35%, respectively.

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Diversifying to secured segments; rebalancing unsecured book to relatively high-yield IL from MGL