New Research Reports

Niva Bupa has been able to deliver standout growth in health insurance premiums (~40% CAGR between FY20-25) while its improved scale and assets under management should help improve margins and earnings growth ahead (expect IFRS PAT CAGR of 53% over FY25-27E).

Asian markets are trading mixed following recent tariff exemptions and dovish remarks by Fed's Waller. Nikkei is trading higher by 1%, while Hang Seng and Shanghai are trading lower by 0.18% and 0.36%, respectively.

We recommend a BUY with a near-term TP of Rs 405, implying an upside of 10% from the CMP.

power to outperform in the near term. We value NIFTY at 7.5% discount to 15year average (18.9x) PE at 17.5 with March27 EPS of 1460 and arrive at 12month target of 25521 (25689 earlier). FY26/27 EPS cut 1.5/0.9%, domestic sectors to outperform We estimate a growth of 5.0% in sales, a decline of 0.5% in EBIDTA and a 2.2% decline in PBT of our coverage universe. Ex oil & Gas, we estimate 4.3% growth in EBIDTA and 5.5% in PBT. Telecom, AMC, Travel, EMS, Metals, Hospitals, Pharma and Durables will lead PBT growth. Banks, Building Materials, Logistics and Oil and...

Cipla has secured its much awaited USFDA approval of gAbraxane following Change in Estimates | Target | Reco the Goa facility clearance in November 2024, milestone that reinforces our positive stance on the company. Our FY26E and FY27E EPS factors in...

Deal wins remain strong, above USD 10 bn for 2nd successive quarter The revenue growth in Q4 was disappointing, missing our estimates by 90bps QoQ, largely attributed to the ramp down in BSNL deal. Otherwise, the international business grew 0.6% QoQ, curtesy BFSI (+1.3% QoQ) and other key geographies that sequentially turned positive after a weak growth reported in Q3. The deal TCV at USD12.2bn (+20% QoQ), was impressive with no major change in the mix or nature of the deals. The management was confident of deriving growth in the international market on the back of strong bookings in...

Commissioned 200-bed multispecialty hospital in Guntur (Q3FY25) under O&M model.

Home First Finance (Home First) was listed in Feb’21. Ever since, it has managed to stand out among peers in the affordable housing finance space, consistently delivering 6–8% QoQ growth every quarter.

Sales expected to reach USD 1bn, driven by industry-leading MR productivity of Rs 14.9mn by FY27E from Rs 11.5mn in FY24