New Research Reports

MARKET SNAPSHOT

END OF DAY SUMMARY

Retail Research

Jio Financial Services (JIOFIN)’s 2QFY27 NII grew ~165% YoY to INR6.8b (~18% beat). Other income declined ~28% YoY to INR4.4b, which included investment income of ~INR1.6b (PY: INR1.8b).

IIFL Finance’s 2QFY27 NII grew 50% YoY and ~8% QoQ to ~INR21.6b (in line). Other income stood at ~INR1.8b (~34% miss) compared to INR4.9b in 2QFY26.

360 One WAM (360ONE) reported operating revenue of INR9b (5% beat), reflecting growth of 17% YoY. Revenue growth was driven by 28% YoY growth in ARR income to INR7.1b (8% beat), while TBR declined 9% YoY to INR1.9b (6% miss).

Retail Research

News Letter

AQ improved, with recoveries exceeding slippages; however, a depleting TWO pool may limit future recoveries

Strong order book and diversification to drive growth : BHEL is one of the largest engineering and manufacturing company of its kind in India engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services with over 180 product offerings to meet the ever-growing needs of the core sectors of...

New product verticals to unlock incremental revenue potential broadening its product portfolio through SAW wires, SAW fluxes and flux-cored wires, enabling it to address specialised welding requirements across heavy engineering, infrastructure and industrial applications. The company is establishing an initial flux-cored wire capacity of around 250 MT per month to be operationalise by Q3FY27 and plans to scale it to 1,000 MT per month by FY28, with management indicating potential revenue of over 150 crore from this vertical. Management targets revenue of 1,000 crore by FY2930, with new product verticals expected to...

Asian markets were trading lower this morning. South Korea's Kospi led the declines, plunging 7.9%, followed by Japan's Nikkei, which dropped 4.63%. Shanghai and Hang Seng fell 1.69% and 1.03%, respectively.

END OF DAY SUMMARY

Retail Research

MARKET SNAPSHOT

We expect the sector to grow strong in domestic footprint led by combination of volume and value surge accompanied by product launches. The increasing share of the chronic therapies led by oncology (26%), anti-diabetics (18%), VMN (17%), and cardiac (16%).

ICICI Prudential (IPRU) has been delivering steady recovery in volume since H2FY26, which has broadly extended into H1FY27. Retail APE grew 10.7% YoY in Q2FY27 (vs. 8.8% YoY in Q1FY27), while VNB grew 20.2% in Q2FY27 and 22.3% in H1FY27.

TATA Elxsi (TELX) reported Q2FY27 revenue growth and margin ahead of I-Sec/consensus estimates, marking a possible beginning of a turnaround.

Retail Research

IPO Note