ICICI Direct Broker Research reports

About the stock: Info Edge (India) Ltd. (Info Edge), is a leading online classifieds company with a strong position in recruitment (naukri.com), real estate (99acres.com), matrimony (jeevansathi.com), and education (shiksha.com). Among its early investments in start-ups, Eternal (previously Zomato) with 12.43% stake...

Valuation at 17x P/E on FY27E earnings, is at significant discount as compared to peers' valuations. Despite factoring in the fact that NRB's presence in only auto space, we believe that this seems unjustified considering the company's focus on growth. We maintain BUY on NRB with...

About the stock: Commencing operations in 1991, Neogen Chemicals Neogen has two segments viz. (i) organic chemicals, (ii) inorganic chemicals which find applications in pharmaceutical intermediates,...

Strong Q2 with double digit volume growth; Upgraded to Buy Q2FY26 performance: Consolidated revenues grew by 6.3% YoY Rs.8,531.3cr. Decorative paint business registered a volume growth of 11% while revenues grew by 6% YoY. Consolidated gross margins improved by 242 bps YoY to 43.2% while EBITDA margins improved by 218bps YoY to 17.6%. EBITDA grew by 21.3% YoY to Rs.1503.4cr. This coupled with lower interest cost and higher other income led to...

Solid order-book underpins growth as execution accelerates About the stock: Hindustan Aeronautics (HAL), one of the largest Defence PSU in India, is engaged in design, development, manufacture, repair, overhaul, upgrade...

About the stock: Indo Count Industries (ICIL) is the world's largest bed-linen player established in 1988. Traditionally operating in bed linen segment, the company expanded its presence into high margin utility and fashion bedding segment in US through organic and inorganic route. It has portfolio of ~25 brands (licensed + owned) to position well in US and other exporting markets. It has 4 manufacturing...

About the stock: KPR Mills (KPR), established in 1984, is one of the largest vertically integrated textile manufacturing companies in India. It has 6 spinning mills with a capacity of 1,00,000 MT of yarn and 4 garment facilities with capacity of 204 million knitted garments. The company also entered the sugar business with a sugar capacity of 20,000 TCD and ethanol capacity of 470KLPD p.a. Q2FY26 performance: KPR's consolidated revenues grew by 10.3%yoy to Rs1,632cr in Q2FY26. Textile business revenues grew by 4% YoY while sugar business revenues grew by 38% YoY (on base) during the quarter. Consolidated...

in the financing business (Bajaj Finance), life insurance (Bajaj Life Insurance), general insurance (Bajaj General Insurance) and securities business. Consistent, faster business growth and profitability remain in focus momentum sustaining and improvement in life insurance profitability, while general insurance remained subdued. Consolidated revenue grew 11% YoY to 37,403 crore. NBFC AUM rose 24% YoY to 4,62,261 crore, with PAT from lending up 22% YoY to 4,876 crore, reflecting robust disbursement and broadly stable asset quality (GNPA at 1.24%, NNPA at 0.6%). In GI premium grew 9% YoY to...

About the stock: Garden Reach Shipbuilders & Engineers (GRSE) is a shipbuilding company in India under the administrative control of the Ministry of Defence (MoD), The company's extensive product range spans from Warships to Weapons', including Commercial ships, various Deck Machinery, Marine Diesel Engines, Naval...

Comprehensive product portfolio driving enterprise retention: The company's offerings - Loyalty+ (loyalty engine processing 0.18 mn transactions per hour), Engage+ (personalization & campaign management; enables omni-channel communication), Insights+ (leverages AI/ML to predict, churn & optimize campaigns), Rewards+ (catalogue management), and CDP (customer data platform; unifies customer data across touchpoints) - enables brands to design, manage & scale end-to-end loyalty programs, enhance consumer engagement, & drive data-led personalization across channels....