Ventura Daily Updates
Ventura
Newsletter
Summary | Date | Stock | Author | LTP | Target | Price at reco (Change since reco%) |
Upside(%) | Type | Report | Discuss | |
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22 Jul 2025 | Market Movement |
Ventura
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Daily Note
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22 Jul 2025 | Indiqube Spaces |
Deven Choksey
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230.03 |
IPO Note
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22 Jul 2025 | UltraTech Cement |
ICICI Securities Limited
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12601.00 | 14600.00 | 12577.00 (0.19%) | 15.86 |
Buy
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A convincing start to FY26
ICICI Securities Limited
Industry leader UltraTech Cement (UTCEM) has made a convincing start to FY26 with Q1FY26 EBITDA surging 46% YoY (in line with our estimate) riding benefits of improved price environment, M&A benefits driving industry superior volume growth and sustained efficiency enhancement measures.
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22 Jul 2025 | Eternal |
ICICI Securities Limited
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329.15 | 315.00 | 271.70 (21.14%) | Target met |
Buy
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Improving profitability in QC should assuage investor concerns on competitive intensity
ICICI Securities Limited
Blinkit’s adj. EBITDA margin (% of NOV) improved ~60bps QoQ in Q1FY26 despite adding 243 stores (ISec est.: 220) with steady take rate and contribution margin.
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22 Jul 2025 | Havells |
ICICI Securities Limited
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1582.50 | 1800.00 | 1531.60 (3.32%) | 13.74 |
Buy
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Transitory impact of early monsoon; long-term growth drivers intact
ICICI Securities Limited
While the impact of early monsoon on off-take of RAC, fans and coolers was higher-than-expected, we believe the impact is transitory in nature and there is negligible impact on long-term value creation.
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22 Jul 2025 | YES Bank |
ICICI Securities Limited
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20.44 | 20.00 | 20.16 (1.39%) | Target met |
Hold
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21 Jul 2025 | Havells |
Motilal Oswal
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1582.50 | 1680.00 | 1531.60 (3.32%) | 6.16 |
Neutral
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21 Jul 2025 | Can Fin Homes |
Motilal Oswal
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754.55 | 900.00 | 813.00 (-7.19%) | 19.28 |
Neutral
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Execution on loan growth remains a key monitorable
Motilal Oswal
Can Fin Homes’ (CANF) PAT for 1QFY26 grew ~12% YoY to ~INR2.24b (in line). NII grew 13% YoY to ~INR3.6b (in line). Fees and other income stood at ~INR93m (PY: INR70m) for the quarter.
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21 Jul 2025 | Mangalore Refinery |
Motilal Oswal
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126.46 | 100.00 | 139.15 (-9.12%) | 20.92 |
Sell
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Plant shutdown and inventory losses weigh on 1Q
Motilal Oswal
MRPL’s 1QFY26 EBITDA came in significantly below our estimate, as its reported GRM of ~USD3.9/bbl was lower than our estimate of USD7.5/bbl. Adjusting for inventory gains, core GRM stood at ~USD5.9/bbl.
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21 Jul 2025 | India Cements |
Motilal Oswal
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395.20 | 280.00 | 343.45 (15.07%) | 29.15 |
Sell
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Improved cost control drives EBITDA beat
Motilal Oswal
India Cements (ICEM) reported EBITDA of INR819m (21% beat) in 1QFY26 vs. operating loss of INR310m in 1QFY25. The improvement in operating performance was led by cost control measures, as opex/t was down ~15% YoY in 1QFY26.
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