New Research Reports

Bosch approved the acquisition of 100% stake in its sister concern, Bosch Chassis Systems India (RBIC), which is one of the market leaders in automotive safety and braking systems.

Avenue Supermarts (DMart)’s revenue growth trajectory improved to 19% YoY in 4QFY26 (vs. 15% YoY in 9MFY26), driven by acceleration in store additions (though most of it was back-ended) and likely recovery in SSSG (vs. ~6% in the last few quarters).

The outlook remains positive, supported by Divi's strong positioning in custom synthesis and a diversified pipeline, with management highlighting active engagement with global innovator customers and multiple projects progressing through development and validation. Ongoing capacity additions along with a focus on disciplined execution and supply reliability are expected to support future growth, while the nutraceuticals business continues to provide healthy momentum and diversification. The company has also completed construction of a dedicated peptide facility, strengthening its capabilities in this fast-evolving segment, and...

We initiate coverage on Hyundai Motor India Limited (HMIL) with a BUY rating and a TP of INR 2,150 (based on 25x FY28E EPS).

Varun Beverages demonstrated resilient financial results in Q4CY25, supported by robust volume growth and improved realisations despite earlier weather-related disruptions. The planned acquisition in South Africa is expected to strengthen manufacturing capabilities and deepen distribution networks, unlocking further synergies. The company's focus on operational efficiency and strategic investments, with moderated capital expenditure (capex) requirements in India and focused...

Building the Metal for Tomorrow

Capacity expansion to 1.1mn units by FY28 to help attain growth with focus on premiumisation, as SUV accounts 70% of domestic sales

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.

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.

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.

Punjab National Bank has confirmed a breakout from a well-defined rounding bottom pattern on the weekly timeframe, signaling a potential medium-term trend reversal. After a prolonged phase of base formation and gradual accumulation, the stock has decisively moved above the key neckline resistance zone around 133134, supported by steady volumes. This pattern typically reflects a shift from distribution to accumulation, indicating improving market sentiment and...

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...

Siemens India, the flagship listed company of Siemens AG (Germany) in India, is an integrated technology provider and leading powerhouse in electronics and electrical engineering. Siemens holds a strong position in the energy and infrastructure space,...

ABB's performance reflects disciplined execution and a diversified, technology-led portfolio, enabling it to navigate cyclical end-markets while deepening customer partnerships. Management remains focused on scaling capabilities to address structurally strong themes such as grid modernisation, rail and transport electrification, renewables, and fast-growing data-centre infrastructure, supported by a robust enquiry pipeline. ABB continues to enhance competitiveness through a portfolio refreshincluding energy-efficient drives, next-generation machinery drives, and higher-efficiency motorsalongside an expanding suite of AI/ML-...

ABB India has announced a capex plan of ~USD75mn for CY26 which is aimed at expanding its manufacturing capacity and R&D capabilities for electrification and automation solutions.

Two new proposed kilns expansion will be taken up once utilization reaches ~85%. Mgmt is targeting ~15% RoI prior to any further capacity expansion. We visited Ambuja Cement's Sanghipuram plant in Kutch (Gujarat), one of the largest integrated cement facilities with cement/clinker capacity of ~6.1mtpa/6.6mtpa (two kilns of 9,000tpd and 10,000tpd) and benefits from ~1Bt of high-quality limestone reserves. Management indicated that current operational cement capacity of ~17,000tpd could increase by ~2,500tpd through debottlenecking, taking capacity to...

Order Book: ~Rs 21,000 Cr. Defence Orders: ~Rs 18,000 Cr. Increasing participation in rockets & ammunition. Expanding defence exports.

Despite short-term challenges, GAIL has demonstrated its ability to adapt and recover, with its natural gas transmission volume showing improvement. The company's growth prospects are promising, driven by its strategic plans to expand its city gas distribution network, increase its presence in the power and fertiliser sectors, and enhance its liquefied natural gas sourcing portfolio. Furthermore, GAIL's commitment to investing in its infrastructure and capabilities, including pipeline projects and initiatives towards renewable energy, is expected to drive longterm growth. With a solid strategy in place and a proven track record of execution,...

Rating: ACCUMULATE | CMP: Rs961 | TP: Rs1,090 Powering on multi-engine growth model Vishal Periwal vishalperiwal@plindia.com | 91-22-63782549...

The company continues to benefit from healthy demand momentum in powergen, coupled with strong growth opportunities from fast-growing data centre market, improving demand for industrial segment, which was impacted in 9MFY26 due to slower capex.