Institutional Reports12 Dec 2025
We maintain our BUY rating on JK Lakshmi (JKLC) with a revised target price of INR 1,080/share (10x FY28E consolidated EBITDA), post our ...
Institutional Reports11 Dec 2025
We maintain a BUY rating on Nuvoco Vistas, with a revised target price INR of 470/share (9x FY28E consolidated EBITDA). Nuvoco is expandi...
Institutional Reports11 Dec 2025
We attended Siemens Energy India (SEL) analyst day, where management articulated a strategy that capitalizes on its unique position at th...
Institutional Reports08 Dec 2025
The Indian IT services sector is positioned for a growth recovery starting in 2026, following a phase of muted performance from 2022 to 2...
Institutional Reports08 Dec 2025
We have analyzed the potential impact of the INR reaching its lowest level against the USD on Indraprastha Gas (IGL) and the price hike n...
Institutional Reports01 Dec 2025
Teamlease registered a 23% CAGR in revenue over FY21-25, but EBITDA growth was limited to 9% CAGR due to EBITDA margins compressing from ...
Institutional Reports01 Dec 2025
We attended the Eureka Forbes’ Investor Day, where the company’s management highlighted that the industry is expected to grow at a 13–15%...
Institutional Reports01 Dec 2025
We visited the company’s laminate plant and its recently commissioned particle board facility located at Naidupeta, Andhra Pradesh, and i...
Institutional Reports27 Nov 2025
We maintain our BUY rating on Dalmia Bharat with a revised target price of INR 2,420/share (12x its Sep-27E consolidated EBITDA). We esti...
Institutional Reports26 Nov 2025
Tata Capital (TATACAP) is among the largest diversified NBFCs, with an AUM of INR2.4trn (Sep-25), comprising a balanced mix of retail (se...
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