New Research Reports

expansion, IP enhancement, and backward integration, while segments like Aerospace, Railways, OSAT and PCBs are expected to fuel margin expansion. We are maintaining our HOLD rating' due to the significant uptick in the stock...

Federal Bank is steadily evolving into a high-potential challenger in India’s private banking landscape. With a well-diversified loan book across retail (33%), SME (13%), agri (3%) and corporate (28%) segments, the bank is actively reshaping its portfolio towards higher-yielding verticals including gold loans, used CVs, LAP and credit cards.

industrial paints which is 45% of its sales (highest industrial paints share in sustained gains from paint+ innovations and 3) guidance of steady 13-14% EBITDA margin led by better product mix and improving demand scenario....

Slightly above our estimated Rs3.12bn, Escorts’ Q1 EBITDA grew 3% y/y to Rs3.35bn due to better-than-expected agri-machinery margins (lowerthan-expected input/employee cost).

EXID's 1QFY26 PAT of INR3.2b came in ahead of our estimate of INR2.8b, aided by better-than-expected margins even as revenue was in line.

Aurobindo Pharma (ARBP) delivered lower-than-expected performance for 1QFY26. While revenue was in line with estimates, EBITDA/PAT missed our estimates by 7%/8% for the quarter.

SONACOMS’ margin (excl. railways division) was in line with our estimate; however, PAT was ahead of estimates due to higher other income.

schedule, we upgrade the stock to HOLD' with a revised target price of revenue from operations of Rs12.8bn, marking an increase of 8.9% YoY and 4.6% QoQ. The topline growth was driven by the Fluoropolymers segment, which grew 16% YoY and 12% QoQ, supported by higher volumes and a...

LIC Housing Finance (LIC HF) continues to feel the heat from increasing competition, as reflected in AUM growth remaining subdued at 7% YoY / 1% QoQ and asset yield reducing 20bps YoY / QoQ to 9.6% in Q1FY26.

stage-3 saw a 15bps QoQ blip leading to higher provisions at 25bps (PLe 18bps). Disbursal growth was muted due to slower pass thru of rate cuts compared to banks and lower demand post repo cuts. While company maintained its double digit AuM growth guidance for FY26, we are cautious and factoring 7.2% AuM CAGR over FY25-27E since (1) competition from banks...