Deven Choksey Broker 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.

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.

Over its operational history of three decades, it has built entrenched client relations through a robust suite of digital platforms, which helps it to maintain the highest average revenue per client of INR 29,347 in FY25 (in the broking industry), driven by its mature customer base and personalized engagement approach.

The Company is uniquely positioned in the industry, as it among the very few of the players, which provide bundle services including counselling and digital platform equipped with managing the entire learner journey, allowing academic institutions to only focus on academic quality and curriculum delivery.

Since inception the Company has delivered over 2.5 GW of module to domestic and international customers. It deploys range of technologies to fulfill diverse consumer needs, through a distribution network of 53 selling partners, including 23 resellers, 19 distributors and 11 channel partners.

Euro Pratik Sales, is India’s leading Company in the decorative wall panel and laminates industry, offering diverse range of products spanned across leading recognizable brands.

Infosys’ Board approved a buyback of equity shares worth INR 180bn at INR 1,800 per share, representing up to 100 Mn. shares (~2.4% of paid-up capital)

India’s life insurance industry saw a decline in new business premiums in August 2025, with total collections declining by 5.2% YoY to INR 309.6bn compared to INR 326.4bn in August 2024.

Dr. Reddy’s Laboratories Ltd. has entered into a definitive agreement with Janssen Pharmaceutica NV, an affiliate of Johnson & Johnson, to acquire the STUGERON® brand along with its leading local brands STUGERON® FORTE and STUGERON® PLUS.

The Company has serviced ~14.6 Mn. customers till date. Moreover, it has witnessed a healthy growth of 25.5% CAGR in its overall NTV over FY23-25, driven by an increase of 17.3% CAGR growth in annual transacting users and a growth of 4.6% CAGR in avg. spend per transacting user.

Daily Morning Digest

We have revised our FY26E/FY27E EPS estimates by +0.9%/-5.2%, as we factor in lower revenue on account of ramp down of Revlimid portfolio and ongoing price erosion in the US market, higher depreciation and amortization expense, offset by higher other income.

We have revised our PAT estimates for FY26E/FY27E by +1.4/+2.3%, respectively, to factor in the higher EBITDA margin led by normalization on account of improved operating leverage, higher capacity utilization and led by cost optimization and efficiency improvement programs.

Daily Morning Digest

The management remained committed in driving sustainable and profitable growth across business verticals.

We have revised our FY26E/FY27E Adj. Book Value estimate by -1.0%/0.2%, respectively, as we factor in higher AUM growth led by proposed GST rate cuts and higher provisioning on account of elevated stress in the unsecured lending portfolio.

The GST Council has reduced tax rates on automobiles, lowering GST to 18.0% for entry-level petrol, LPG, CNG vehicles under 1,200 cc and diesel vehicles up to 1,500 cc, as well as motorcycles up to 350 cc.

We expect the company to sustain robust growth over FY27E, led by stronger volume offtake in SDA segment driven by Euro-7 demand, scale-up of agro and pharma intermediates, and increasing contribution from electrolyte salts.

UPL Limited has announced an internal realignment involving the integration of its Post Harvest Business (Decco) with the Advanta seed business.