New Research Reports

We believe GRASIM has a compelling structural long-term investment case underpinned by an improving VSF earnings cycle, a stable margin in the chemicals business due to the company’s focus on specialty chemicals, and a long-term growth opportunity in decorative paints.

HCL Technologies (HCLT) reported 3QFY26 revenue of USD3.8b, up 4.2% QoQ CC, above our estimate of 2.3% QoQ CC growth. EBIT margin came in at 18.6% vs. our estimate of 18.1%.

TCS reported revenue of USD7.5b in 3QFY26, rising 0.8% QoQ in CC terms, above our estimate of 0.5%. Growth was led by regional market and others (up 4.6% QoQ CC).

Retail Research

Retail Research

With a 17% upside from the CMP, we maintain a BUY rating on the stock.

We maintain our BUY rating on the stock.

Asian markets are trading positively following Wall Street gains from last week after a U.S. job report showed that the unemployment rate fell, signalling resilience in the labour market. Nikkei is trading up by 1.61%, Hang Seng is trading high by 0.20%.

IPO NOTE

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