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Blinkit has continued to deliver strong growth, supported by dark-store expansion and increasing category penetration. It remains the only major quick commerce (QC) player to have achieved EBITDA-level profitability; and notably, has sustained profitability despite heightened competitive intensity.
HDFC Bank (HDFCB) has received the RBI’s nod to appoint Mr. Anup Bagchi as MD & CEO (link). Mr. Bagchi has helmed ICICI Pru Life as MD & CEO and was Executive Director of ICICI Bank.
Azad Engineering (Azad) has inaugurated two dedicated manufacturing facilities for GE Vernova's gas power business at its Centre of Excellence & Innovation Centre in Hyderabad.
Pipe demand in Q2FY27-TD has been healthy, and the company is on track to achieve its guidance of double-digit volume growth in FY27. Astral notes margin tailwinds in pipes due to higher PVC prices and is confident of at least achieving its OPM guidance of 16–18%.
Three years into its digital transformation journey, Mahindra & Mahindra Financial Services (MMFS) has successfully embedded its flagship ‘Udaan’ programme across lending, servicing and collections verticals.
Brigade Enterprises (BRGD) had a muted Q1FY27 with no major launches, resulting in sales bookings of INR 11bn (down 5% YoY). However, with the Sep’26 launch of Brigade Barcelona in Hyderabad (GDV of INR 27bn), launches are finally picking up pace.
Solar Industries (SOIL) has signed a definitive agreement to acquire 100% stake in Omnia Holdings for INR 130bn (USD 1.36bn), giving it access to an established international mining explosives and blasting platform, adding to its already strong explosives business.
Aye Finance (Aye) has a formidable presence in India’s mass-affluent lending market. Aye is anchored by its niche funding offerings in the INR 0.15mn–0.5mn ticket size segment.
We initiate coverage on Knowledge Realty Trust (KRT) with a BUY rating and a TP of INR 130, valuing the company at 1x FY27E NAV of INR 130/unit. KRT owns and manages a high-quality office portfolio in India.
Jain Resource Recycling Ltd. (JRRL) has carved out a niche as a multi-metal (lead/copper/aluminium) recycling platform. But, the company stands at a precipice in its growth journey.
Post-COVID, global audiences have become more demanding with regard to the experiential aspect of what they watch in theatres. The proportion of visual effects in movie budgets has increased from 5-20% to 20-40% in tentpole productions (in India and globally).
Amagi is a tech enabler for the M&E industry – an industry that lagged the tech adoption curve and is now waking up to that reality. As traditional broadcast media globally struggles with moderating top-line growth, management’s focus is shifting toward bottom-line optimisation.
In litigation ongoing since 2018, the Delhi High Court on 31st Aug’26, accepted Daiichi’s demand for a forensic audit. S Ramanand Aiyar & Co will conduct the audit and examine all Fortis share and fund movements since 24 May’16, including the scrutiny of INR 46.66bn transferred to RHT (Religare Health Trust) and the Fortis-IHH-RHT Health transaction chain.
We recently visited OneSource’s drug-device combination (DDC) manufacturing plant in Bangalore. OneSource is the only CDMO with generic semaglutide approvals across the G7 nations.
HUL's analyst day theme was WINI - Winning In New India. For context, HUL had unveiled WIMI -Winning In Many India in 2014. Increased capex plans to 3% of revenues from 2% (improved volume-led growth assumption plus spends for cost, efficiency improvements).
We recently met the management of Supreme Industries (SI). Demand momentum in pipes is healthy in Q2FY27-TD, as the PVC price trend is favourable, resulting in restocking by channel partners. Margin trajectory remains steady and the company expects to achieve its OPM guidance of 14-14.5% in FY27.
Other income to PBT was ~47% in FY26. The valuation multiple (P/E) based on core business earnings, i.e., excluding cash and tax-adjusted other income, stood at 48x on FY26 earnings. Revenue grew 1.4% YoY in FY26; however, EBITDA/PAT declined 12.6%/8.9% YoY due to weak summers and intense competitive activity.
UltraTech Cement (UTCEM) has formally launched its wires and cables business, ‘Ultravolt’. Being under the banner of the Aditya Birla Group, the new segment has an ambitious business plan.
AU SFB has received an in-principle approval to convert into a universal bank, positioning it as one of the fastest-growing retail-focused private sector banks in India.
