TCI Express (TCIE)’s 2QFY26 revenue was flat YoY at INR3.08b (+8% QoQ), in line with our estimate. Volume growth was flat YoY, hit by the GST rate cut.

Prudent Corporate Advisory (Prudent) reported an operating revenue of INR3.2b, +12% YoY (in-line) in 2QFY26, fueled by an 11% YoY surge in commission and fees income. For 1HFY26, it grew 15% YoY to INR6.1b.

P&G Hygiene and Healthcare’s (PGHH) 2QFY26 revenue growth was broadly in line with our expectations, but profitability was a miss. Similar margin anomalies have been observed in past quarters.

Alkyl Amines Chemicals (AACL) reported a muted operating performance in 2QFY26 as EBITDA declined 5% YoY. Despite some raw material cost pressure, EBITDA margins expanded marginally by 30bp YoY to 18%.

Depositories remain a structural play on India’s capital markets, buoyed by higher retail participation and distinguished by a mix of annuity and transaction-based business.

Chalet Hotels Ltd.'s (Chalet) Q2FY26 result was below our estimates on key parameters as increased competitive intensity in MMR region weighed on net sales. However, on YoY basis, the company reported yet another robust quarterly performance. The management is very optimistic of a strong operating performance in the second half of the year for both business and leisure locations. The dip in Q2 occupancy was a temporary "blip" due to the addition of 166 new rooms. The company expects to be back to the occupancies they have been delivering in the past very quickly. The company introduced the new...

With a 7% upside from the CMP, we maintain our HOLD rating.

We continue to maintain our HOLD rating on the stock

About the stock: Firstsource Solutions (FSL) provides business process services to BFSI, communication, media, tech and healthcare. FSL is a domain driven BPM services company which has 200+ global clients, including several Fortune-500...

Tata Consumer Products is poised to maintain strong growth momentum in H2FY26, driven by sustained double-digit performance in India Foods and Beverages.