Motilal Oswal Broker Research reports

Urban Company (URBANCO) operates a hyperlocal online home services marketplace spanning cleaning, repairs, beauty, and maintenance.

TBOTEK is a technology-driven B2B travel platform that connects over 750 airlines, more than 1m hotels, and travel buyers worldwide.

Tata Power’s(TPWR) finalization of the Supplemental Power Purchase Agreement (SPPA) with Gujarat is a significant positive development, addressing the viability challenges of the Mundra plant.

HDFC AMC is one of the top three mutual fund houses, with QAAUM of INR9.2t and overall/active equity market share of 11.4%/13% as of Dec’25, supported by steady net inflows, robust SIP momentum, favorable equity mix, and a strong distribution network.

Under the Production-Linked Incentive (PLI) scheme, ARBP constructed the PENG and 6-APA plants within a record three-year period and ramped up production following the start of the PEN-G plant in Jul’25.

Bajaj Finance (BAF) is navigating the current credit cycle with a clear focus on balance sheet resilience, consciously sacrificing near-term growth to protect long-term asset quality.

Management has raised FY26 capex/capitalization guidance to INR350b/INR250b, from INR320b/INR220b guided in Feb’26.

Since the US–Iran conflict broke out, Coforge Ltd (COFORGE) has witnessed a decline of 9-10% (45% from its peak) and underperformed some of its mid-cap peers by 2-9%.

Over the last few quarters, CIE had witnessed slower growth in its India business; however, this trend has reversed after GST rate cuts, which have boosted demand across all segments.

Laurus is witnessing a strong scale-up in CDMO business from global innovator pharma, including rare formulation-level contracts for patented products (beyond API/intermediates).

Mr. Atanu Chakraborty, Part-time Chairman and Independent Director of HDFC Bank, tendered his resignation on 18th Mar’26 with immediate effect.

We visited the LG Electronics India (LGEL) Pune plant and interacted with the management. Our interaction revolves around demand trends, LPG availability, margins, and growth outlook, along with insights on capacity utilization and summer preparedness.

SBI Life Insurance (SBILIFE) has been a consistent compounder with FY20-25 APE CAGR at 15% vs. 6% for the industry (15% YoY in YTDFY26 vs 13% for the industry), supported by an extensive SBI branch network and one of the largest agent bases in the private life insurance industry.

CY25 was a subdued year for Varun Beverages Limited (VBL), as unusually heavy rainfall led to weak beverage consumption, resulting in modest volume growth of 8% in the consolidated business and 2% in India, with realizations remaining largely flat.

IPCA is taking multiple initiatives for its domestic formulation (DF) segment, such as cardiology portfolio restructuring, Zerodol franchise strengthening, RA focus within pain management, and entry into high-end cosmo-dermatology, to boost its growth prospects.

Management expects domestic demand (across Asia) to remain robust and outpace the modest growth expectation of ~2-4% CAGR globally, broadly driven by renewable & electrification, infra spending, packaging and auto/EV adoption.

Following a weak 1QFY26, Campus Activewear’s (Campus) growth accelerated to mid-teens in 2HCY26, led by increasing premiumization, an expanding retail presence, and the rationalization of the GST rate.

Poonawalla Fincorp (PFL) has largely moved past its portfolio clean-up and balance sheet repair phase and is now transitioning into a structurally stable growth cycle, supported by a rebuilt operating platform.

ACME Solar’s (ACME) portfolio currently stands at 8.1GW (comprising ~3GW operational capacity and ~5.1GW under construction), with ~78% of capacity backed by PPAs, providing strong earnings visibility.

All-India major port volumes grew 3.5% YoY in Feb’26 and ~8% YTD in FY26, led by healthy traction in petroleum, containers, and coking coal (albeit on a low base).