Highest Upside

We recently upgraded PLNG to BUY (Tide is turning, slowly) on inexpensive valuations and strong upcoming capacity growth.

Suzlon Energy (Suzlon) delivered a strong set of results, with deliveries and EBITDA coming in ~15%/38% ahead of our expectations.

We recently hosted Mr. J.P. Chalasani, Group CEO of Suzlon Energy (SUEL), for an expert session on the wind industry. Mr. Chalasani has reiterated his long-term commitment to SUEL, highlighting that his position as CEO carries no defined sunset clause.

Power Finance Corporation (PFC) reported better-than-expected PAT at INR 51.1bn, up 21% YoY/down 12% QoQ, aided by negative credit cost.

Eternal reported better-than-expected revenue growth, aided by strong NOV growth in Quick Commerce (QCom, 137% YoY) and accelerated shift to owned inventory model.

With a 15% upside potential from the CMP, we maintain our BUY rating on the stock.

The company has geographically diversified asset base with term loans outstanding across 23 states and 4 union territories Q2FY26 performance: IREDA reported strong performance on AUM momentum in Q2FY26, along with normalisation in credit cost supporting profitability. AUM stood at 84,478 crore, registering 30.8% YoY/ 5.7% QoQ growth. NIM improved to 3.72% (up ~12 bps QoQ/~40 bps YoY), supported by 16-bps sequential decline in cost of borrowings to 7.2%. PAT came in at 549 crore, up 42% YoY, driven by robust growth in AUM and higher margins. Post a surge in Q1FY26, GNPA and...

Market share gains, the lower base (owing to elections) and sustained premiumisation drove an 11% rise in United Breweries’ volumes in Q1 (above the Street’s 5-7% estimate).

In 1QFY26, Page Industries (PAGE) reported weaker revenue growth of 3% YoY, with volume growth of 2% (est. 9%; 8.5% in 4QFY25) to 58.6m units.

,Research Reports dated Nov 21, 2024 (RC- 882) and Research Report dated June 02,2025 (RC953) LIC has proposed a dividend of Rs 12/- for FY25. Keeping in mind the dominant position in the life insurance industry and attractive...