Name: Latest research reports of Equitas Small Finance Bank Ltd. authored by BOB Capital Markets Ltd. and published by - Trendlyne research reports.
Item: Equitas Small Finance Bank Ltd.
Rating: 5
Author: BOB Capital Markets Ltd.

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	28 Mar 2025	Equitas Small Finance Bank	BOB Capital Markets Ltd.	56.16	73.00	54.98 (2.15%)	29.99	Buy	pdf post cache	Broker Report [Initiation] Equitas Small Finance Bank: De-risked portfolio growth; available at a discount BOB Capital Markets Ltd. Rising share of diversified and secured portfolio with MFI mix likely to decline further; scaling up granular deposit franchise pdf Copy Link Share on Share on Share on Share on Alert
	24 Mar 2025	Suven Pharma	BOB Capital Markets Ltd.	1088.00	1405.00	1175.50 (-7.44%)	29.14	Buy	pdf post cache	Broker Report [Initiation] A play on the ADC growth segment BOB Capital Markets Ltd. ADC is an evolving second line of treatment in oncology. The company expects market size to grow to US$ 50bn by FY33 from US$ 5bn in FY22 pdf Copy Link Share on Share on Share on Share on Alert
	21 Mar 2025	Software & Services	BOB Capital Markets Ltd.					Not Rated	pdf post cache	Broker Report Accenture (NOT RATED): Significant deceleration on the cards. Unsure if worst is over BOB Capital Markets Ltd. YoY organic growth is expected to decelerate from ~4.5% in 2QFY25 to 0.5% in 4Q. Implies a US$2.6bn annualized organic revenue loss pdf Copy Link Share on Share on Share on Share on Alert
	17 Mar 2025	Aurobindo Pharma	BOB Capital Markets Ltd. Reco Target	1105.35	1451.00	1111.70 (-0.57%)	31.27	Buy	pdf post cache	Broker Report Aurobindo Pharma (BUY): Growth triggers intact; valuations attractive BOB Capital Markets Ltd. Eugia unit 3 capacity utilization to increase to 60-65% from 50% in Q3FY25. We expect capacity utilisation to rise above 70% in FY26E pdf Copy Link Share on Share on Share on Share on Alert
	11 Mar 2025	IndusInd Bank	BOB Capital Markets Ltd. Reco Target	682.00	870.00	655.95 (3.97%)	27.57	Hold	pdf post cache	Broker Report IndusInd Bank (HOLD): Net worth impact led by accounting discrepancy; HOLD BOB Capital Markets Ltd. Discrepancy in derivative portfolio account to adversely impact net worth by 2.35%, indicates weak internal controls pdf Copy Link Share on Share on Share on Share on Alert
	11 Mar 2025	Supreme Industries	BOB Capital Markets Ltd. Target	3278.60	5150.00	3333.95 (-1.66%)	57.08	Buy	pdf post cache	Broker Report Supreme Industries (BUY): Wavin acquisition to bolster SI's market share and return ratios BOB Capital Markets Ltd. Wavin acquisition will enable SI to gain market share in North and South India pdf Copy Link Share on Share on Share on Share on Alert
	10 Mar 2025	Sun Pharmaceutical	BOB Capital Markets Ltd.	1709.35	2086.00	1611.50 (6.07%)	22.03	Buy	pdf post cache	Broker Report Sun Pharma (BUY): Acquiring Checkpoint Therapeutic to widen Specialty portfolio BOB Capital Markets Ltd. SUNP to acquire Checkpoint Therapeutic for US$ 4.10 a share, at ~66% premium to its last closing price. Deal valued at US$ 355mn pdf Copy Link Share on Share on Share on Share on Alert
	01 Mar 2025	UltraTech Cement	BOB Capital Markets Ltd.	11498.65	13137.00	10128.45 (13.53%)	14.25	Buy	pdf post cache	Broker Report Ultratech Cement (BUY): Diversification Play; Sharp focus on Cement Stays, Retain BUY BOB Capital Markets Ltd. UTCEM allocates Rs18bn (~2% of capital allocation) in the building material value chain by investing in wire and cable business pdf Copy Link Share on Share on Share on Share on Alert
	24 Feb 2025	Federal Bank	BOB Capital Markets Ltd. Target	195.00	236.00	181.24 (7.59%)	21.03	Buy	pdf post cache	Broker Report Federal Bank (BUY): Unfolding strategy, implementation remains the key BOB Capital Markets Ltd. FB plans to grow advances 1.5x nominal GDP growth in the next three years pdf Copy Link Share on Share on Share on Share on Alert
	17 Feb 2025	Hindware Home Innovation	BOB Capital Markets Ltd. Target	195.33	250.00	194.90 (0.22%)	27.99	Buy	pdf post cache	Broker Report Hindware Home Innovation (BUY): Another disappointing quarter on muted demand BOB Capital Markets Ltd. Dismal Q3 on weak performance across segments due to muted demand environment pdf Copy Link Share on Share on Share on Share on Alert
	13 Feb 2025	Ashok Leyland	BOB Capital Markets Ltd. Target	205.14	274.00	217.07 (-5.50%)	33.57	Buy	pdf post cache	Broker Report Ashok Leyland (BUY): Cost and realisation a positive surprise, retain BUY BOB Capital Markets Ltd. Q3FY25 revenue grew 2%/8% YoY/QoQ to Rs 94.76bn, helped by realisation gains of 4%/6% YoY/QoQ while volume was listless pdf Copy Link Share on Share on Share on Share on Alert
	13 Feb 2025	Lupin	BOB Capital Markets Ltd. Target	1971.05	2626.00	2055.25 (-4.10%)	33.23	Buy	pdf post cache	Broker Report Lupin (BUY): High-margin US region to have growth visibility till FY27 BOB Capital Markets Ltd. US sales cc quarterly run rate at its highest-ever level of US$ 235mn, expect to inch up to US$ 250mn in FY26E and US$ 280mn in FY27E pdf Copy Link Share on Share on Share on Share on Alert
	12 Feb 2025	Birlasoft	BOB Capital Markets Ltd.	366.50	466.00	502.65 (-27.09%)	Target met	Sell	pdf post cache	Broker Report Birlasoft (SELL): Misses expectations: Company struggles within Tier 2 set BOB Capital Markets Ltd. 3QFY25 performance impacted by higher-than-expected furloughs and decline in ERP Biz. Revenue declined by 1.1% QoQ in CC terms pdf Copy Link Share on Share on Share on Share on Alert
	12 Feb 2025	Alembic Pharma	BOB Capital Markets Ltd. Target	881.25	1032.00	845.15 (4.27%)	17.11	Buy	pdf post cache	Broker Report Alembic Pharma (BUY): Earnings recovery on normalised Azithromycin base BOB Capital Markets Ltd. US and ROW sales grew above our estimates of 5% and 13% respectively, reporting growth of 10% each pdf Copy Link Share on Share on Share on Share on Alert
	11 Feb 2025	Century Plyboards	BOB Capital Markets Ltd. Target	696.40	800.00	803.55 (-13.33%)	Target met	Hold	pdf post cache	Broker Report Century Plyboards (HOLD): Strong performance in a challenging environment BOB Capital Markets Ltd. CPBI beats our estimate on strong plywood sales volume and sharp sequential improvement in MDF margin pdf Copy Link Share on Share on Share on Share on Alert
	11 Feb 2025	VST Tillers Tractors	BOB Capital Markets Ltd. Target	3603.90	3267.00	3835.75 (-6.04%)	Target met	Sell	pdf post cache	Broker Report VST Tillers Tractors (SELL): Listless show, limited near-term respite; maintain SELL BOB Capital Markets Ltd. Q3 revenue grew 29% YoY (-23% MoM) to ~Rs 2.2bn, driven by volume gain of ~34%, dragged by 4% lower realisations of Rs 0.27mn (YoY) pdf Copy Link Share on Share on Share on Share on Alert
	11 Feb 2025	Eicher Motors	BOB Capital Markets Ltd. Target	5247.90	5079.00	4972.35 (5.54%)	Target met	Hold	pdf post cache	Broker Report Eicher Motors (HOLD): Healthy growth, but margin woes may be a concern BOB Capital Markets Ltd. Q3 revenue increased ~21%/17% YoY/QoQ to Rs 42.1bn, driven by a mix of volume and realisation gain in the motorcycle segment pdf Copy Link Share on Share on Share on Share on Alert
	11 Feb 2025	Escorts Kubota	BOB Capital Markets Ltd. Target	3161.15	2533.00	3129.70 (1.00%)	19.87	Sell	pdf post cache	Broker Report Escorts Kubota (SELL): Weakness persists despite signs of industry revival; SELL BOB Capital Markets Ltd. Q3 tractors volume rose by 25% YoY (combined volume from JV partners) aided by industry growth, realisation fell 13% pdf Copy Link Share on Share on Share on Share on Alert
	10 Feb 2025	Finolex Industries	BOB Capital Markets Ltd. Reco Target	176.95	250.00	195.01 (-9.26%)	41.28	Buy	pdf post cache	Broker Report Finolex Industries (BUY): Weak quarter on sharp margin contraction BOB Capital Markets Ltd. Gained market share in pipe segment in a difficult environment by offering heavy discounts to its dealers pdf Copy Link Share on Share on Share on Share on Alert
	09 Feb 2025	JK Lakshmi Cement	BOB Capital Markets Ltd. Target	791.65	694.00	843.60 (-6.16%)	Target met	Sell	pdf post cache	Broker Report JK Lakshmi Cement (SELL): Challenges galore leading to a weak show; maintain SELL BOB Capital Markets Ltd. Double-digit revenue decline YoY by 13% dragged by lower volume growth, down 5%, and weak realisations that fell by 10% pdf Copy Link Share on Share on Share on Share on Alert
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BOB Capital Markets Ltd. Broker Research reports

Latest broker research reports from BOB Capital Markets Ltd. buy, sell, hold, neutral recommendations along with share price targets forecast and upside.

[Initiation] Equitas Small Finance Bank: De-risked portfolio growth; available at a discount

[Initiation] A play on the ADC growth segment

Accenture (NOT RATED): Significant deceleration on the cards. Unsure if worst is over

Aurobindo Pharma (BUY): Growth triggers intact; valuations attractive

IndusInd Bank (HOLD): Net worth impact led by accounting discrepancy; HOLD

Supreme Industries (BUY): Wavin acquisition to bolster SI's market share and return ratios

Sun Pharma (BUY): Acquiring Checkpoint Therapeutic to widen Specialty portfolio

Ultratech Cement (BUY): Diversification Play; Sharp focus on Cement Stays, Retain BUY

Federal Bank (BUY): Unfolding strategy, implementation remains the key

Hindware Home Innovation (BUY): Another disappointing quarter on muted demand

Ashok Leyland (BUY): Cost and realisation a positive surprise, retain BUY

Lupin (BUY): High-margin US region to have growth visibility till FY27

Birlasoft (SELL): Misses expectations: Company struggles within Tier 2 set

Alembic Pharma (BUY): Earnings recovery on normalised Azithromycin base

Century Plyboards (HOLD): Strong performance in a challenging environment

VST Tillers Tractors (SELL): Listless show, limited near-term respite; maintain SELL

Eicher Motors (HOLD): Healthy growth, but margin woes may be a concern

Escorts Kubota (SELL): Weakness persists despite signs of industry revival; SELL

Finolex Industries (BUY): Weak quarter on sharp margin contraction

JK Lakshmi Cement (SELL): Challenges galore leading to a weak show; maintain SELL

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