Name: Latest research reports of Alembic Pharmaceuticals Ltd. authored by BOB Capital Markets Ltd. and published by - Trendlyne research reports.
Item: Alembic Pharmaceuticals Ltd.
Rating: 5
Author: BOB Capital Markets Ltd.

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	07 May 2025	Alembic Pharma	BOB Capital Markets Ltd.	912.95	1032.00	896.85 (1.80%)	13.04	Buy	pdf post cache	Broker Report Alembic Pharma (BUY): FY26 to be better than FY25 BOB Capital Markets Ltd. Revenue/EBITDA/ PAT grew 6.7%/8% and 19% above our estimates. EBITDA margin reported 20bps above estimates of 15.4% in 4QFY25 pdf Copy Link Share on Share on Share on Share on Alert
	07 May 2025	Kajaria Ceramics	BOB Capital Markets Ltd. Target	947.80	925.00	829.20 (14.30%)	Target met	Buy	pdf post cache	Broker Report Kajaria Ceramics (BUY): Weak performance on all counts BOB Capital Markets Ltd. Weak Q4 on soft demand environment and margin pressure in tile segment; ceased plywood operations due to continued losses pdf Copy Link Share on Share on Share on Share on Alert
	06 May 2025	United Spirits	BOB Capital Markets Ltd. Reco Target	1540.30	2074.00	1576.30 (-2.28%)	34.65	Hold	pdf post cache	Broker Report [Initiation] United Breweries (HOLD): Positive outlook, but premium targets are stretched Hold BOB Capital Markets Ltd. UB will hold share in non-premium, grow in premium. Double digit sales growth and 340bps EBITDA margin expansion between FY25-FY27 pdf Copy Link Share on Share on Share on Share on Alert
	06 May 2025	Mahindra & Mahindra	BOB Capital Markets Ltd.	3135.60	3689.00	3068.40 (2.19%)	17.65	Buy	pdf post cache	Broker Report Mahindra & Mahindra (BUY): Healthy performance all around; maintain BUY BOB Capital Markets Ltd. Automotive and tractor segment volume grew in double digits by ~16%/19% YoY; blended realisations gains ~7%/11% YoY/QoQ pdf Copy Link Share on Share on Share on Share on Alert
	06 May 2025	Coforge	BOB Capital Markets Ltd. Target	8426.00	6202.00	7426.00 (13.47%)	26.39	Sell	pdf post cache	Broker Report Coforge (SELL): Robust growth likely in FY26. But pricey at 37x BOB Capital Markets Ltd. 4QFY25 CC growth a tad below estimate but EBIT margin surprise +ve. FY25 organic rev. growth is likely in mid teen. FY26 hinted to be better. pdf Copy Link Share on Share on Share on Share on Alert
	05 May 2025	Kotak Mahindra Bank	BOB Capital Markets Ltd. Target	2108.20	2520.00	2084.90 (1.12%)	19.53	Buy	pdf post cache	Broker Report Kotak Mahindra Bank (BUY): Healthy business growth; asset quality improving BOB Capital Markets Ltd. Healthy credit growth driven by secured segments; deposits growth led by healthy growth in CASA deposits pdf Copy Link Share on Share on Share on Share on Alert
	05 May 2025	State Bank	BOB Capital Markets Ltd. Target	792.10	989.00	790.00 (0.27%)	24.86	Buy	pdf post cache	Broker Report State Bank of India (BUY): Healthy business growth with steady return metrics BOB Capital Markets Ltd. PAT beat our estimates by 5% mainly aided by govt-guaranteed SRs; return ratios stay steady with RoA/RoE of 1.1/17.3% in FY25 pdf Copy Link Share on Share on Share on Share on Alert
	05 May 2025	Marico	BOB Capital Markets Ltd. Target	724.40	801.00	722.65 (0.24%)	10.57	Hold	pdf post cache	Broker Report Marico (HOLD): Benefits of a diversified portfolio BOB Capital Markets Ltd. Sales +3% above Bloomberg 4QFY25 consensus/our est. EBITDA was in line with cons. and 1% above our est pdf Copy Link Share on Share on Share on Share on Alert
	30 Apr 2025	Bajaj Finance	BOB Capital Markets Ltd. Target	9167.00	11025.00	8634.50 (6.17%)	20.27	Buy	pdf post cache	Broker Report Bajaj Finance (BUY): Levers for steady growth BOB Capital Markets Ltd. AUM growth healthy at 26% YoY, guided for 24-25% in FY26, aided by new lines of business, gold, and secured business segments pdf Copy Link Share on Share on Share on Share on Alert
	30 Apr 2025	Ambuja Cements	BOB Capital Markets Ltd. Target	563.50	587.00	539.70 (4.41%)	4.17	Hold	pdf post cache	Broker Report Ambuja Cements (HOLD): On a strong growth path BOB Capital Markets Ltd. Strong volume-driven revenue growth, as realisation stays soft 3% YoY due to aggressive push in key markets pdf Copy Link Share on Share on Share on Share on Alert
	29 Apr 2025	ACC	BOB Capital Markets Ltd. Target	1928.40	2154.00	1892.20 (1.91%)	11.70	Hold	pdf post cache	Broker Report ACC (HOLD): Valuations factor in improving operating performance BOB Capital Markets Ltd. Q4FY25 revenue grew 11% YoY as a strong volume of 14% was offset by 3% fall in realisation, on weak pricing in key operating regions pdf Copy Link Share on Share on Share on Share on Alert
	29 Apr 2025	Greenply Industries	BOB Capital Markets Ltd. Reco Target	288.90	345.00	300.95 (-4.00%)	19.42	Hold	pdf post cache	Broker Report Greenply Industries (HOLD): Optimistic FY26 guidance priced in; D/G to HOLD BOB Capital Markets Ltd. Beats EBITDA estimate on unexpected sharp improvement in MDF gross margin, despite weak realisations and higher timber prices pdf Copy Link Share on Share on Share on Share on Alert
	29 Apr 2025	Abbott	BOB Capital Markets Ltd.	30560.00	35292.00	30100.00 (1.53%)	15.48	Buy	pdf post cache	Broker Report ERRATA: Abbott India (BUY): Mixtard discard to result in highest-ever EBITDA margin BOB Capital Markets Ltd. Novo Nordisk insulin brand outgo to result in 330 bps and 670 bps increase in EBITDA margin to 30.9% and 34.9% for FY26E and FY27E pdf Copy Link Share on Share on Share on Share on Alert
	29 Apr 2025	UltraTech Cement	BOB Capital Markets Ltd. Target	11905.00	13919.00	11869.00 (0.30%)	16.92	Buy	pdf post cache	Broker Report Ultratech Cement (BUY): Well-oiled for challenges; maintain BUY BOB Capital Markets Ltd. Healthy 10% YoY volume growth aids flat top line despite 10% dent in realisations in a challenging Q4; capacity utilisation spikes at ~90% pdf Copy Link Share on Share on Share on Share on Alert
	29 Apr 2025	Firstsource Solutions	BOB Capital Markets Ltd. Reco Target	368.75	379.00	351.70 (4.85%)	Target met	Hold	pdf post cache	Broker Report Firstsource Solutions (HOLD): FY26 growth guidance strongest among peers, thus far- Top pick in Tier-2. BOB Capital Markets Ltd. 4QFY25 came in at the upper end of guidance. 15.6% YoY CC revenue organic growth in FY25 top quadrant performance pdf Copy Link Share on Share on Share on Share on Alert
	29 Apr 2025	TVS Motor Company	BOB Capital Markets Ltd. Target	2841.50	2738.00	2702.60 (5.14%)	Target met	Hold	pdf post cache	Broker Report TVS Motor (HOLD): Steady show in a challenging environment; maintain HOLD BOB Capital Markets Ltd. Q4 revenue grew in double digits at 17%/5% YoY/QoQ) to Rs 95.5bn, backed by volume growth of 16% YoY (flat QoQ) to ~1.22mn units pdf Copy Link Share on Share on Share on Share on Alert
	28 Apr 2025	IDFC First Bank	BOB Capital Markets Ltd. Target	69.26	79.00	66.50 (4.15%)	14.06	Buy	pdf post cache	Broker Report IDFC First Bank (BUY): Poised for higher profitability BOB Capital Markets Ltd. PAT beat estimates, aided by higher non-interest income and lower operating expenses pdf Copy Link Share on Share on Share on Share on Alert
	27 Apr 2025	DCB Bank	BOB Capital Markets Ltd. Target	142.41	160.00	127.03 (12.11%)	12.35	Buy	pdf post cache	Broker Report DCB Bank (BUY): Robust growth, efficiency gain aid steady performance BOB Capital Markets Ltd. Business growth remains strong with a rising focus towards high-yielding advances pdf Copy Link Share on Share on Share on Share on Alert
	25 Apr 2025	Laurus Labs	BOB Capital Markets Ltd. Reco Target	603.05	641.00	625.65 (-3.61%)	Target met	Hold	pdf post cache	Broker Report Laurus Labs (HOLD): Visibility of Operating Leverage BOB Capital Markets Ltd. Revenue/EBITDA/PAT exceeded our estimates by 8.4%/32.6%/110.3%; EBITDA margin surpassed our estimate by 440 bps pdf Copy Link Share on Share on Share on Share on Alert
	25 Apr 2025	Persistent Systems	BOB Capital Markets Ltd. Target	5699.00	3703.00	5273.50 (8.07%)	35.02	Sell	pdf post cache	Broker Report Persistent Systems (SELL): Delivers strong growth but pricey at 47x BOB Capital Markets Ltd. Delivers industry leading growth in FY25 and in 4QFY25 and maintains its aspiration of US$2bn revenue by FY27 (20% CAGR) pdf Copy Link Share on Share on Share on Share on Alert
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BOB Capital Markets Ltd. Broker Research reports

Latest broker research reports from BOB Capital Markets Ltd. buy, sell, hold, neutral recommendations along with share price targets forecast and upside.

Alembic Pharma (BUY): FY26 to be better than FY25

Kajaria Ceramics (BUY): Weak performance on all counts

[Initiation] United Breweries (HOLD): Positive outlook, but premium targets are stretched Hold

Mahindra & Mahindra (BUY): Healthy performance all around; maintain BUY

Coforge (SELL): Robust growth likely in FY26. But pricey at 37x

Kotak Mahindra Bank (BUY): Healthy business growth; asset quality improving

State Bank of India (BUY): Healthy business growth with steady return metrics

Marico (HOLD): Benefits of a diversified portfolio

Bajaj Finance (BUY): Levers for steady growth

Ambuja Cements (HOLD): On a strong growth path

ACC (HOLD): Valuations factor in improving operating performance

Greenply Industries (HOLD): Optimistic FY26 guidance priced in; D/G to HOLD

ERRATA: Abbott India (BUY): Mixtard discard to result in highest-ever EBITDA margin

Ultratech Cement (BUY): Well-oiled for challenges; maintain BUY

Firstsource Solutions (HOLD): FY26 growth guidance strongest among peers, thus far- Top pick in Tier-2.

TVS Motor (HOLD): Steady show in a challenging environment; maintain HOLD

IDFC First Bank (BUY): Poised for higher profitability

DCB Bank (BUY): Robust growth, efficiency gain aid steady performance

Laurus Labs (HOLD): Visibility of Operating Leverage

Persistent Systems (SELL): Delivers strong growth but pricey at 47x

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