New Research Reports

Asian Markets traded mixed as investors assessed China data and monitored escalating Israel-Iran Tensions. Nikkei and Shanghai were down 0.11% and 0.08%, respectively, while Hang Seng was up 0.68%.

Stitching Scale with Strategic Diversification

Powering India's Compute Backbone in the AI-Cloud Era

Ellenbarrie Industrial Gases Ltd (EIGL) is one of the oldest operating industrial gases companies in India and has a rich legacy of over 50 years. The company manufactures and supplies industrial gases such as oxygen, carbon dioxide, acetylene, nitrogen, liquified petroleum gas, speciality gases, etc. which cater to a wide range of end-use industries. Additionally, EIGL offers project engineering services for tonnage air separation units (ASUs) and medical gas pipeline systems to customers...

Retail Research

End of Day Summary

Retail Research

Retail Research

Asian Markets trade lower as investors weighed the US Fed's decision to keep interest rates steady, while the ongoing conflict between Israel and Iran continues to dent sentiment. Nikkei, Hang Seng and Shanghai were down 0.76%, 1.00%, and 0.39% respectively.

Newsletter

In May, Consumer Price Index (CPI) inflation eased to 2.8%, while Wholesale Price Index (WPI) inflation declined to 0.4%. This sequential drop in CPI inflation was mainly driven by a sharp decline in food prices.

Goldman Sachs retained its GDP growth forecast for India at 6.1% for FY26, despite increasing global trade tensions. The firm believes lower oil prices could help reduce India's import bill and boost demand if the savings are passed on via price cuts.

Retail Research

End of Day Summary

We met Axis Bank’s ED Subrata Mohanty and CFO Puneet Sharma, to understand the business/profitability outlook, more so in view of the recent monetary policy.

Gravita India Ltd (Gravita), a prominent leader in India's recycling industry, is wellplaced to leverage strong industry growth and rising momentum through its global and pan-India operations, supported by a comprehensive procurement network.

Siemens Energy India Limited will get listed on 19th Jun’25. This business was demerged from Siemens Ltd in April’25 and focuses on Transmission and Distribution (T&D) as well as small-sized turbines.

Despite robust growth over the past few years (6.5x revenue growth over FY19-25), management indicated that Trent’s share in India’s fashion and lifestyle retail industry remains in low-single digits.

The key highlights of ACEM’s FY25 annual report, the company’s consolidated cement capacity has risen to 100.3mtpa currently from 76.9mtpa in FY24-end, primarily led by inorganic growth.

The company has shown steady growth in its core segments and is actively expanding its capacity and capabilities across areas like recycling, tubular batteries, and New Energy. However, it is currently navigating short-term margin pressures due to rising material and power costs. Timely commissioning of new energy projects and aggressive Chinese cell pricing to be considered as watchlist risks. We believe investment in key projects and...

For FY26, capex is guided at Rs. 400425cr, with Rs. 250300cr for new projects and the rest for renovation, maintenance, and IT. Capex intensity is expected to *over or under performance to benchmark index...