New Research Reports

Weak start for FY26 likely. Salary hike postponed due to uncertainty in the demand environment

Anand Rathi Wealth (ARWL) reported operating revenue of INR2.2b in 4QFY25, up 20% YoY (4% miss). Overall revenue growth was driven by a strong 28% YoY growth in the MF business revenue, which reached INR1b. For FY25, overall revenue from operations grew 30% YoY to INR9.4b.

Q4FY25 Earnings Play : Auto OEMs: Ashok Leyland, TVS Motors. (M&M - Non-Coverage) Auto Ancillary: UNO Minda, Sansera Engineering Ltd, SSWL

we maintain our BUY rating on the stock

Asian markets traded lower as the sell-off resumed due to worries about the US-China trade war. The Nikkei, Hang Seng, and Shanghai were down 4.89%, 1.06%, and 0.33%, respectively.

We recommend a BUY rating on the stock with a target price of Rs 530/share, implying an upside of 10% from the CMP.

End of Day Summary

Hindustan Aeronautics (HAL) is a market leader in aerospace defense. It boasts a strong order book of INR1.8t as of 31st Mar’25, along with a promising prospect pipeline of INR6t, which is likely to be awarded over the next few years.

TCS reported revenue of USD7.5b in 4QFY25, down 1.0% QoQ in USD terms vs. our estimated decline of 0.8%. FY25 revenue stood at USD30.2b, up 4.2% YoY in CC.

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