Research notes

The report states revenue grew 12.6% YoY to Rs 892.4 crore with net profit up 53% YoY, and the stock trades at 18.5x FY29E EPS.

The report notes revenue grew 31% YoY to Rs 560.4 crore and net profit rose 83% YoY to Rs 24.2 crore.

The report states Mankind Pharma's revenue grew 17.3% YoY to Rs 4,338 crore, beating estimates, with net profit up 39% YoY and the stock trading at 26.5x FY29E EPS.

The report notes revenue grew 17% YoY to Rs 120.5 crore and EBITDA rose 49% with margin expanding to 23.7%.

The report states revenue rose sharply to Rs 825 crore and net profit to Rs 858 crore, aided by a one-time gain of Rs 868 crore.

The report notes Brigade Hotel Ventures' net profit doubled to Rs 22 crore with revenue up 10% YoY and EBITDA margin improving to 34.85%.

The report states Dalmia Bharat posted a net loss of Rs 205 crore in Q2 FY27 versus a profit a year ago, with EBITDA falling 29.2% and margin contracting.

The report notes Tata Consumer's revenue grew 14.0% YoY to Rs 5,661 crore with EBITDA up 16.6% YoY and PAT up 17.7% YoY.

The report states ITC Hotels' consolidated revenue rose 25.6% YoY to Rs 1,054 crore and EBITDA grew 37.3% YoY with margin at 32.0%.

The report notes BPCL expects a decline in Russian crude imports in November due to higher freight costs, with refinery maintenance likely slowing operations.

The report says Tata Communications plans to invest Rs 4,350 crore to build 10,000 km of AI-ready connectivity infrastructure across India.

The report states L&T Technology Services signed a five-year contract with Nokia for engineering and R&D support.

The report notes Bajel Projects secured its highest-ever transmission order worth Rs 1,500 crore for a renewable energy transmission corridor in Gujarat.

The report says Mastek delivered healthy revenue growth but missed on margins in Q2FY27, maintaining BUY with a TP of INR 1,920.

The report says AAVAS's Q2FY27 earnings were in line with estimates, with loan growth improving and disbursements up 21% YoY, maintaining BUY with an unchanged TP of INR 1,540.

The report says ABREL's Q2FY27 presales rose YoY but fell QoQ, with FY27 presales now expected at INR 50bn due to a delayed Niyaara launch, maintaining BUY with a TP of INR 1,910.

The report says Eris's EBITDA grew 7% YoY with sales up 13% YoY, and raised H2FY27 margin guidance to 36%, revising the TP to INR 1,500.

The report says AMS posted 72% YoY revenue growth and 54% YoY PAT growth in Q2FY27, raising the TP to INR 460 on strong order pipeline optimism.

The report says Kajaria's revenue grew 24% YoY with margin expansion, and the rating was upgraded from Add to BUY with the TP unchanged at INR 1,390.

The report says Dalmia reported sub-par volume and margin in Q2FY27 due to weak demand and elevated costs, lowering the TP to INR 2,030.

The report says SIL posted 40% YoY revenue growth but cut its FY27 volume growth guidance, maintaining the ADD rating and a TP of INR 4,250.

The report says APAT's Q2FY27 volume rose 13% YoY with margins hitting a new high, and raises the target price to INR 2,450.

The report says BOMH posted strong loan growth, margin expansion and sharply lower credit costs, with RoA/RoE at 2%/27%, leading to an upgrade in FY27E/28E estimates and a revised TP of INR 95.

The report says EBITDA grew 27% YoY on 17% sales growth and margin expansion, with India formulation expected to outperform IPM in H2FY27 and margin guidance of 25.5-26.5% retained, with the TP revised to INR 2,610.

The report says BPCL's Q2FY27 EBITDA improved sequentially on narrowing auto fuel and LPG losses, though it expects marketing margin pressure and LPG under-recoveries in H2FY27E, and cuts the price target from INR 430 to INR 408.