Geojit BNP Paribas Broker Research reports

*over or under performance to benchmark index Mazagon Dock Shipbuilders Ltd (MDL) is a leading Indian shipbuilding company located in Mumbai. MDL is a wholly owned subsidiary of the Ministry of Defence, Government of India...

expects ~30% growth in EU sales in the first year post-approval, translating to ~2,500 MT additional volume as per the company. Expect revenue/EBITDA to grow at 13%/85%, respectively, over FY25-27E. We value Apex at 17X P/E and recommend BUY rating with a revised target price of Rs. 284....

The company's outlook remains positive due to growth drivers such as increased traction from global innovators, a healthy pipeline of RFPs, expansion of scientific and technological capabilities, and steady growth in the nutraceutical business. Management highlighted persistent pricing pressures in generics and higher cost escalation compared to custom synthesis, weighing on margins. Regulatory delays of 12-24 months for peptides, contrast media, and Kakinada approvals restricted near term revenue conversion. Divi's also faces the risk of losing business related to...

We expect yield compression to persist in the medium term as the company pivots toward secured lending to enhance competitiveness and attract high-value clients. Asset quality in the gold loan segment remains stable, supported by strong gold prices. However, risks in the nongold portfolioparticularly MFI, MSME, and vehicle financeremain elevated. Near-term credit cost pressures are likely to continue, though improved employee incentives may support recoveries and offset provisioning risks. As the company navigates its stabilization phase, improvements are expected to unfold gradually. Given the recent price hike and stretched...

Sagility India Ltd. is a healthcare-focused, technology-enabled solutions provider, serving primarily U.S. health insurers (Payers) and, to a lesser extent, hospitals, physicians, and medical device companies (Providers). Headquartered in Bengaluru, it operates 33 centres across India, the U.S., and other global markets. In Q1FY26, 88.4% of revenue was derived...

Glenmark Pharmaceuticals Ltd, which has a presence in over 80 countries, focuses on the generics, specialty and over-the-counter (OTC) segments, with a strong presence in diabetes, cardiovascular and oral contraceptives....

Given the strong fundamentals and product diversification, we believe ZFCV will be a direct beneficiary in the long run owing to economic growth, a wider portfolio and government *over or under performance to benchmark index thrusts on infrastructure development. The firm is driven by higher AMT and ECAS penetration and strategic e-mobility initiatives, despite flat trailer volumes and adverse mix. Regulatory tailwinds (ESC, AIS 113, ADAS) and a robust product pipeline support future growth. EV segment momentum continues, with targeted solutions for independent bus OEMs. Hence, factoring in 14% earnings CAGR over FY25-27E. Having said that, we...

Despite a tough economic environment, Novelis delivered steady results. Also, to a cost reduction programme. However, Novelis faces tariff exposure on imports and is actively pursuing mitigation measures. Considering these factors, we retain our HOLD...

*over or under performance to benchmark index Zydus Lifesciences Ltd (Zydus) is one of India's leading, vertically integrated pharmaceutical companies. It operates across the value chain, from manufacturing finished dosages to active pharmaceutical ingredients, as well as animal healthcare and wellness products. Zydus' revenue increased 5.9% YoY to Rs. 6,574cr in Q1FY26 driven by 6.5% YoY...