Deven Choksey Broker Research reports

Wockhardt has transformed into an innovation-led pharmaceutical company with a strong pipeline of novel antibiotics, highlighted by the USFDA approval of Zaynich.

CleanMax's 837 MW renewable energy deal with Meta. Taking their cumulative partnership to ~900 MW is a landmark transaction that validates India's largest pure-play C&I renewable platform at hyperscaler scale.

Outlook remains positive, supported by multiple growth drivers across its innovation, specialty, and US generics businesses. Continued scaling of Ryaltris, commercialization of new respiratory products in the US, and the restart of injectable operations are expected to support earnings growth over the next few years.

Adani Energy Solutions Limited (AESL) has acquired a 100% equity stake in IntelliSmart Infrastructure Private Limited for INR 3,050 crore.

The RBI and government launched a three-part capital attraction package: The RBI will absorb full currency hedging costs so banks can offer NRIs 150-200 bps higher rates on 3-5 year dollar deposits;

Supriya Lifescience is evolving from a niche anesthetic API player into a diversified specialty API company with multiple growth engines.

GFL remains strategically well-positioned to capitalize on long-term growth opportunities in fluoropolymers and battery materials, supported by favorable trends in semiconductors, EVs, energy storage and advanced manufacturing.

The RBI’s Monetary Policy Committee held the repo rate at 5.25% unchanged on June 5th,2026. This signals an end to the 125 bps easing cycle that ran from February 2025 to December 2025. While maintaining a neutral stance, the balance of risks has shifted to the upside.

We remain positive on BHFL given its unique combination of industry-leading asset quality, strong AUM growth, and multiple levers for earnings compounding. While near-term spread compression may weigh on profitability, we view this as transitory.

Anupam Rasayan's order book of over ?14,600 crore provides strong revenue visibility and underpins growth over the next several years.

CMR Green Technologies Limited, is India’s largest non-ferrous metal recycler by installed capacity and revenue from operations.

Eugia's injectable facilities creating uncertainty around the pace of US growth and the achievement of its USD 2 billion revenue aspiration.

We believe Happiest Minds Technologies to grow it’s Revenue/EBITDA/PAT at a CAGR of 8.9%/6.7%/13.0% over FY26-FY28E, which translates the stock trading at 16x FY28E. We value the stock at 23x implying a Target Price of 510 (37% Upside).

DCX Systems reported a weak FY26 performance, primarily due to poor execution of its order book despite maintaining healthy demand visibility.

The company may continue to see gradual improvement in volumes and operations over the coming quarters; however, sustaining the recent margin improvement could remain challenging as chemical spreads normalize from elevated levels.

We expect the company to grow its Revenue/EBITDA/PAT at a CAGR of 15.3% / 20% / 18.2% for the period of FY26-FY28.

Sun Pharma has crossed a critical inflection point. For the first time, its US Innovative Medicines franchise — led by Ilumya, Unloxcin, Leqselvi, and Cequa — is the larger US business, eclipsing generics.

India's mortgage market remains significantly underpenetrated at a mortgage-to-GDP ratio of approximately 12%, versus 50-80% in developed markets, creating a multi-decade growth runway for organised housing finance players.

Minda Corporation remains structurally positioned to outgrow the auto industry through rising content-per-vehicle, expanding electronics penetration, and increasing platform-level wins across ICE and EV ecosystems.

We remain cautious on Ramco Cements due to mounting cost pressures and a challenging operating environment that could weigh on profitability over the near term. Management has guided for cement demand growth of 6–7% in FY27; however, demand in Q1FY27 remained muted due to state elections across Tamil Nadu, Kerala, and West Bengal.