Deven Choksey Broker Research reports

For Q1FY26, Net interest income (NII) grew by 5.4% YoY (-2.0% QoQ) to INR 314.4 Bn., above our estimates by 4.8%, primarily driven by lower interest expenses on account of decline in cost of funds, reflecting efficient liability management.

Zydus Lifesciences Ltd has received tentative approval from the United States Food and Drug Administration (USFDA) for its Ibrutinib tablets in 140 mg, 280 mg, and 420 mg strengths.

UltraTech Cement’s revenue stood at INR 212.8 Mn, up 13.1% YoY (-7.8% QoQ), in-line with our expectations. Revenue Growth was driven by robust volume expansion of 9.7% YoY to 36.8 MT, aided by recent acquisitions and network integration.

Acutaas Chemicals Limited (formerly known as Ami Organics Limited) has announced a strategic investment of up to INR 2 Bn in its wholly owned subsidiary, Acutaas Advance Material Limited (AAML), to support expansion in the semiconductor chemicals business.

Revenue: Revenue came in at INR 4,22,790 Mn. (+3.3% QoQ/+7.5% YoY), above our estimates by 4.0%, led by stronger growth across Europe driven by ramp-up of large deals.

In Q1FY26, operational revenue came in at INR 9,678 Mn., up 24.8% YoY (+7.4% QoQ), in-line with our estimates. Revenue growth stood robust majorly driven by stronger growth in QAAUM.

GNG Electronics, is the India’s largest refurbisher of Laptops and desktops, which sells refurbished product under the “Electronics Bazaar” brand to both retail and B2B customers.

For Q1FY26, the Net Interest Income (NII) grew by 10.1% YoY (+1.2% QoQ) to INR 429.6bn, above our estimates by 2.1%, led by higher NIM margins, partially offset by lower growth in advances.

IndiQube Spaces, is one of the India’s leading and organized, flexible managed office workspace provider.

In Q1FY26, Axis Bank’s Net Interest Income (NII) grew by 0.8% YoY (-1.8% QoQ) to INR 135,598 Mn., in-line with our estimates. The NIM declined by 17bps sequentially to 3.80%, (-25bps YoY).