Motilal Oswal Broker Research reports

AU Small Finance Bank (AUBANK) remains an attractive combination of growth and earnings as the bank navigates through the last leg of stress in the MFI and Cards segments.

In FY25, India’s tea production declined 5% YoY but rebounded in the current season (Jan–Jul’25) with 14% growth, led by Assam and West Bengal. This stabilized prices after a peak in Jun’25.

Tata Steel (TATA) is pursuing an aggressive capacity expansion strategy in India to capitalize on the rising domestic demand.

We interacted with the management of Voltas (VOLT) to understand the current demand trend, the company’s strategy to play festive demand and GST rate cuts, and the segmental performance.

Kotak Mahindra Bank (KMB) has aligned its loan trajectory with a disciplined target of 1.5-2.0x, while consciously improving business granularity by focusing on the retail and SME segments.

Prince Pipes and Fittings (PRINCPIP) hosted an analyst meet on 18th Sep’25, where it highlighted the current demand-supply and pricing scenarios in the PVC pipes industry.

Aditya Birla Capital (ABCL) has steadily evolved into a digitally enabled, customer-focused financial services platform with a diversified presence spanning lending, insurance, and asset management.

The opportunities for the entire Indian capital market ecosystem over the next decade, with a rising financialization trend but low penetration (demat penetration at 15% vs 60%+ in the US), continue to be immense (highlighted in our capital market thematic report).

VRL Logistics’ (VRLL) management implemented a price hike of 8-10% in Jun’24, which was rolled out across customer segments.

India’s total installed power capacity reached ~490GW as of Jul’25, grew at 7.8% CAGR over the past 15 years. Renewable energy (~237 GW, 49% share) has surpassed thermal capacity (~220 GW, 44% share), where RE and thermal grew at 10.9% and 6.5% CAGR, respectively, over the past 15 years.