New Research Reports

Sharp rise in DRAM/NAND prices has raised BOM costs by 1015%, posing volume risk in price-sensitive segments

Domestic CV demand, which had revived post-GST rate cut, has sustained even in Mar’26. Demand revival has been positive across all CV segments.

ARBP is accelerating its growth momentum by leveraging its extensive generic portfolio and expanding into high-margin specialty and injectable segments. The company is focusing on the US market with a mix of complex generics and unique products, which is expected to result in a more balanced revenue mix. Additionally, the development of injectable and specialty products is expected to unlock new growth opportunities as they enter the commercialisation stage. The company's...

NII (Net Interest Income) rose 5.6% YoY to Rs.7,485cr, while NIM (Net Inter- PAT grew 9.0% YoY to Rs.1,041cr, supported by the highest ever Net Interest Income and operating profit. Despite a 125 bps rate cut, the bank displayed...

We upgrade the stock rating from HOLD to BUY, supported by its strong growth outlook, well-diversified business mix, and powertrain-agnostic portfolio.

Our meeting with the top management (MD/CEO/CFO) was encouraging. PAG is seeing improving demand trends (post Oct-25), and targets to deliver doubledigit sales growth and retain 19-21% EBITDA margin band in the near term.

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.

We recommend a BUY with a target price of Rs 2,170/share, implying an upside of ~10% from the CMP.

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%.

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).

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.

We recommend a BUY with a target price of Rs 290/share, implying an upside of 10% from the CMP.

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).

Standalone profit rose sharply by 91% YoY to Rs. 7,048cr in 9MFY26, supported by improved operational efficiency and strong margins. At the same time, asset quality strengthened, with the Stage III ratio in the gold loan portfolio declining to 1.58% in...

Per media articles (refer to link) , the Union Cabinet has approved changes to the Press Note 3 framework for FDI (we await official confirmation by the GoI).

We interacted with R Srikrishna, CEO of Hexaware Technologies (HEXT), to gauge the market pulse and assess the growth outlook. HEXT’s CY25 growth was impacted by weak macros, higher than usual client-specific challenges, and weak NN deal-wins in H1CY25. NN trends and overall growth started improving in H2CY25.