Devyani’s (DIL) 4QFY24 results were below our estimates, as core brands (KFC and PH) disappointed on the SSSG front. Although the India ...

Siemens: Siemens India Ltd (SIL) delivered strong standalone Q2FY24 revenue/EBITDA/APAT of INR 53.1/7.9/6.3bn, beating our estimates by (...

Macroeconomic Indicators (Strong): PMI services as well as manufacturing both rise, also both remain in expansionary zone, CPI and WPI bo...

ABB India: ABB reported its best-ever quarter with revenue/EBITDA/PAT at INR 30.8/5.6/4.5bn, beating our estimates by 9.5/37.6/35%. The c...

Bharat Petroleum Corporation: We maintain our REDUCE rating on Bharat Petroleum (BPCL), with a target price of INR 550, owing to the risk...

Orient Electric’s (OEL) Q4 operating print was dampened by annual EPR compliance cost (INR 186mn, 2.4% of EBITDA). This along with invest...

Relaxo Footwears: Top-line declined 2.3% YoY to INR7.47bn in Q4 (HSIE: INR8.03bn) as BIS implementation in Q4 impacted January volumes (v...

We upgrade Sapphire Foods to ADD from Reduce with TP of INR 1600 (25x FY26 Pre IND-AS EV/EBITDA) as we expect it to deliver Revenue and ...

JLR Q4 EBITDA margin improved 10bps QoQ to 16.3% due to higher wholesale and reduced staff expenses. India CV margins improved over 90bps...

State Bank of India: SBIN reported its best-ever quarterly profits on the back of strong fee income traction, healthy loan growth, and st...

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