Research notes

The note states a Buy with a buying range of 343-348, add on dip at 333, stop loss 326 and target 370 over up to 10 days, citing a bullish reversal from the 50 DEMA, higher volumes, a bullish hourly RSI setup and a higher top-higher bottom formation.

The note says to buy AU Bank October futures around an average level of 1030 (CMP 1061.6) with a stop loss of 1010 and a target of 1130 over a 1-10 day horizon, citing a long build-up in futures, price above the 5- and 11-day EMAs and multiple bottoms formed around the 120-odd level.

The note says the stock has formed a strong bullish candle with a volume-backed intraday breakout, trades above key moving averages with a positive RSI, and suggests buying in the Rs 2,911.60-2,940 range with a stop loss of Rs 2,785 and target of Rs 3,090 over up to 10 days.

The note states a buying range of 1845-1860 (CMP 1845.90), add on dip at 1800, stop loss at 1770 and a target of 1950 over a horizon of up to 15 days, citing a bullish reversal from the 50 DEMA, a jump in intraday volumes, a bullish RSI setup on the hourly chart and a higher top-higher bottom structure.

The note says to buy Canara Bank October futures at an average level of 123 (CMP 125.87) with a stop loss of 120 and a target of 134 over a 1-10 day horizon, citing long build-up in open interest, price above the 5- and 11-day EMAs and multiple bottoms around 120.

The note states a positional buy on IKS in the 1960-1933 range (add on dip at 1870, stop loss 1825) with targets of 2065-2150 over up to two months, citing a weekly higher tops and bottoms pattern, a down-sloping trendline breakout with rising volumes and positive RSI, at a CMP of 1932.80.

The report mentions Ambuja Cements as a planned northeast entrant with over 3mn MT expected by late FY29E/early FY30E, per HSIE's view.

The report mentions JK Lakshmi as a planned new entrant in the northeast with 1.5mn MT expected by end of FY29, per HSIE's view.

The report mentions Shree Cement among new entrants planning greenfield capacity in the northeast, with 1mn MT by end of FY28.

The note states Dalmia Bharat, alongside Star Cement, is an incumbent leader in the northeast generating ~INR 1,500-2,000/MT EBITDA and will benefit from limited competition until late FY29.

The report maintains BUY with a reduced target price of INR 250/share (12x Sep'28E consolidated EBITDA), saying management expects flattish Q2FY27 volumes YoY and an industry-best margin of ~INR 1,400/MT, with 12% volume CAGR estimated over FY26-29E, ~INR 100/MT logistics cost savings from FY28E, roughly flat EBITDA over FY26-29E and net debt/EBITDA peaking at ~2.3x in FY29E.

The note says HDFC Securities maintains SELL on Acutaas Chemicals with a raised target price of INR 2,210 (from INR 1,569) versus a CMP of INR 3,440, expecting revenue/EBITDA/APAT CAGR of 22/23/21% over FY26-FY29E, RoE declining 214bps to 21.9% by FY29E, and viewing the stock's 64.7/52.3/44.9x FY27/28/29E EPS multiples and ~58x one-year forward PE as contextually high.

The report initiates coverage with a BUY rating and a target price of INR 1,407 based on 54x Sep-28E EPS (CMP INR 993 as on 17 Sep 2026), projecting revenue CAGR of ~19% to INR 84bn and PAT CAGR of ~32% to INR 18bn over FY26-30E, with EBITDA margin in the ~30-34% band and the possibility of a valuation re-rating toward MNC capital-goods multiples.

The note states a buy on Deepak Fert in the 1335-1345 range (CMP 1335, add on dip 1300) with a stop loss of 1270 and target of 1425 over a horizon of up to 10 days, citing an intraday chart breakout, a jump in volumes, a bullish hourly RSI setup and higher tops/higher bottoms on hourly charts.

The note says to buy the Sona Comstar October future at a CMP of 808 with an average level of 783, stop loss of 770 and target of 858 over a 1-10 day horizon, citing a long build-up in futures and the stock trading above its 5, 11 and 200 day EMAs.

The note says JIOFIN has bounced out of a narrow consolidation range on rising volumes with a positive candlestick pattern and positive momentum oscillators, suggesting a buying range of 232-229.65 (CMP 229.65), add on dip at 224, stop loss 219 and target 244 over a horizon of up to 15 days.

The note states a buying range of 307.05-312 with CMP 307.05, add on dip at 299, stop loss at 294 and target of 335 over a horizon of up to 10 days, saying the short-term trend has turned positive with a possible breakout of a narrow range, rising volumes on smaller timeframe charts, a positive candlestick pattern and positive momentum oscillators.

The note states a buying range of 46.85-47.70 with CMP 46.85, add on dip at 45.40, closing-basis stoploss of 44.50 and targets of 49.50 and 50.60 over up to 60 days, citing a breakout above a falling channel and higher tops and bottoms.

The note states a buying range of 17.93-18.30 with CMP 17.93, add on dip at 17.30, closing-basis stoploss of 16.95 and targets of 19.10 and 19.50 over up to 60 days, citing a trendline breakout and positive weekly MACD.

The note states a buying range of 179.82-183 with CMP 179.82, add on dip at 174, closing-basis stoploss of 171 and targets of 189.50 and 194 over up to 60 days, citing a trendline breakout now in a throwback fall and a bullish weekly MACD.

The note says the ETF has broken out from a horizontal trendline multi-top resistance with bullish weekly RSI and MACD, suggesting a buying range of 73.39-73.50, add on dip at 71.25, closing-basis stop loss of 69.50 and targets of 78 and 80.5 over up to 60 days.

The note says Jindal Saw can be bought in the Rs 213.5-217 range (CMP 213.99, add on dip at 201) with a stop loss of 196 and targets of 235 and 246 over a horizon of up to two months, citing a weekly trend line breakout, rising volumes, bullish RSI above 50 and MACD above the equilibrium line.