New Research Reports

Fineotex Chemical Ltd. has announced that its Board of Directors will meet on September 27, 2025, to consider several key proposals, including the declaration of an interim dividend, the sub-division or split of equity shares with a face value of INR 2 each.

Other income to PBT is ~40% in FY25. The valuation multiple (P/E) based on core business earnings, i.e., excluding cash and tax-adjusted other income, stands at 71x on FY25 earnings. The company gained market
shares in both washing machine and refrigerators in FY25, despite a highly competitive landscape.

Retail Research

We upgrade Hindalco to BUY from Reduce, with an increased TP of Rs900 (Rs650 earlier). After the flatlined stock performance in the past 12M, we see HNDL doing well from here.

We attended Minda’s Analyst Meet and visited Spark Minda Technical Centre (SMIT) in Pune and its Flash Electronics plant; the management outlined its ‘Vision 2030’ at the Meet.

Retail Research

Retail Research

TruAlt Bioenergy Ltd. (TBL) is one of India's largest biofuels producers and largest Ethanol producer based on installed capacity. As of FY25, the company houses 5 distillery units in Karnataka with an aggregate installed capacity of 2,000 kilo litres per day (KLPD). Additionally, TBL's subsidiary Leafiniti', is one of the first producers of Compressed Biogas (CBG) under the SATAT scheme which was introduced by the government in 2018. As of Mar'25, Leafiniti operates a 10.2 tonnes per day (TPD) CBG plant, which also produces solid and liquid Fermented Organic Manure (FOM). TBL also...

Asian Markets are trading mixed, tracking Wall Street declines after Powell suggested stocks are overvalued. Nikkei is down 0.49%, whereas Shanghai and Hang Seng are trading positively by 0.28% and 0.24%, respectively.

IPO NOTE

IPO NOTE

Newsletter

Large Addressable Market with Strong Growth Potential: The Indian home services market, valued at USD 59 billion, is expected to reach USD 97 billion by FY30, implying a 10–11% CAGR.

The Company boasts a total capacity of 308.3 KTPA (as of Jul’25) and is among one of the largest formal recycler of non-ferrous metals in India.

Minda Corp. Vision 2030E outlines a significant growth trajectory and financial improvement targets compared to FY25 performance.

END OF DAY SUMMARY

Retail Research

MARKET SNAPSHOT

We interacted with the management of Aditya Birla Fashion and Retail (ABFRL) to discuss the growth prospects and profitability outlook for the company’s various segments and other focus areas.

Sri Lotus Developers and Realty (LOTUS), a public limited company incorporated in February 2015 under the name AKP Holdings Private Limited, has established itself as a key player in the society redevelopment space.