Broker research reports for stocks which have been upgraded by brokers. Both recommendation upgrades,
as well as share price target upgrades are available .
Broker Research reports: latest Upgrades
for all stocks
*over or under performance to benchmark index FY26 consolidated revenue rose 15% YoY to a record Rs. 2,74,944cr, supported Q4FY26 Aluminium Downstream revenue grew 35% YoY to Rs. 4,867cr, led by...
The company reiterated its FY28 revenue target of $400 million, supported by a pipeline of 60+ pending low-competition U.S. product launches. Management also remains optimistic about other regulated markets, where portfolio expansion and new customer additions are expected to drive stronger growth and gradually scale revenues to levels comparable to the U.S. business....
*over or under performance to benchmark index Glenmark Pharmaceuticals Ltd, which has a presence in over 80 countries, focuses on the generics, specialty and over-the-counter (OTC) segments, with a strong presence in diabetes, cardiovascular and oral contraceptives. In Q4FY26, Glenmark's normalized revenue grew 11.1% YoY to Rs. 3,616cr, driven...
CreditAccess Grameen (CREDAG) has emerged stronger from the recent MFI stress, with an improved operating momentum, a more resilient portfolio, and a structurally stronger business mix supported by an increasing focus on retail finance.
Torrent Pharma’s (Torrent) dominance in cardio-diabetes therapies, coupled with its varied portfolio and a dedicated field force, has helped the company garner 34–35% volume market share in GLP-1 in India.
Dr Reddy’s’ Form 20-F disclosures indicate that gRevlimid sales in FY26 were closer to our base-case estimate (~$300mn). However, assuming muted growth in the company’s base oncology portfolio since FY22, gRevlimid contribution would have been higher by ~$100mn in FY26 vs our base case.
We attended WeWork India Management’s (WeWork) maiden Analyst Meet, wherein management highlighted the company’s continued focus on its premium flexspaces offering.
Adani Ports (APSEZ) has signed a definitive agreement with Terminal Investment (TiL), the container terminal arm of Mediterranean Shipping Company (MSC), wherein TiL will acquire 49% stake in Adani Vizhinjam Port Private (AVPPL) for ~$1.4bn, valuing AVPPL at EV of ~$2.85bn subject to regulatory approvals.
Adani Ports & SEZ (APSEZ) entered into a definitive agreement with MSC Group's terminal arm, Terminal Investment Limited (TiL), for the sale of a 49% stake in Vizhinjam Port at an implied valuation of USD2.85b, with TiL investing USD1.397b.
*over or under performance to benchmark index JSW Steel Limited (JSW Steel) is an integrated steel producer that makes products such as hot-rolled and cold-rolled coils, wire rods and galvanised coils and sheets. It...
Vi's latest result shows better operating traction, underpinned by network investments translating into a better customer experience. The management highlighted priorities around reducing customer churn, strengthening the subscriber mix and driving monetisation through differentiated propositions alongside wider 4G/5G expansion. The enterprise segment continues to build momentum across connectivity and digital solutions, supported by broader capabilities and go-tomarket initiatives. The management also reiterated its focus on cost discipline and efficiency to support profitability as scale improves. But key risks include delays in...
LICHF delivered steady performance, driven by resilient domestic mortgage *over or under performance to benchmark index demand, improved asset quality, and strategic diversification into the higher-margin loan against property (LAP) and lease rental discounting (LRD) segments. Management's focus on establishing a dedicated affordable housing vertical, leveraging co-lending partnerships, engaging business aggregators and deploying automated underwriting technology is expected to enhance operational efficiency and market reach. The new business retention department and expanded marketing...
premiumization trend and improving retail demand. Additionally, calibrated price increases across select categories are likely to aid value realization. However, rising raw material costs and elevated marketing expenditure may constrain margin expansion in the near term. Accordingly, we maintain our HOLD rating and value the...
The latest quarter indicates that SAMIL's positive business story remains intact, backed by steady execution, wide diversification and an ability to stay resilient in a difficult environment. The company is handling inflation and supply disruption better than many peers as its production bases are comparatively closer to the market it serves, its superior supply arrangements and continued focus on efficiency. Emerging businesses such as consumer electronics and aerospace are becoming meaningful growth drivers, supported by growing operations, improving visibility...
Retail health insurance – the fastest-growing non-life insurance segment (FY20-25 CAGR of 18%), has witnessed stellar growth of ~30% in 2HFY26, supported by rising healthcare inflation, improving awareness, increasing middle-class penetration and GST exemption.
Hindustan Copper (HCP) is undertaking multi-pronged strategy to expand its capacity. It has awarded a 20-year revenue-sharing contract to restart/upgrade/ maintain the 50k tonne Gujarat Copper Plant (GCP).
Core business resilient, EESL enters next phase lead acid battery market with presence across automotive & industrial applications. It also has dual presence in Li-On battery space through assembly operations (1.5...