Research notes

The report says Star Health beat expectations with PAT up 233% YoY aided by the new IND-AS accounting regime and improved underwriting profitability.

The report states Piramal Pharma's EBITDA grew 120% YoY ahead of estimates, with upgraded revenue growth guidance to 19-20% driven by CDMO and CHG momentum.

The report says Axis Max Life Insurance delivered strong H1FY27 APE/VNB growth with margin improvement, though flags IRDAI's upcoming distribution framework as a risk to its banca-led model.

The report notes SAIL's Q2FY27 volumes rose YoY/QoQ though unit EBITDA fell due to weak steel pricing and elevated coal costs, and raises the target price citing a firmer steel price outlook.

The report states Info Edge's recruitment billings grew 12.6% YoY with AI monetization scaling and margin expansion, while noting a leadership transition from Hitesh Oberoi to Sanjeev Bikhchandani.

The report says CIFC's Q2FY27 earnings were largely in line with estimates, with healthy loan and AUM growth offsetting NIM compression, and remains HSIE's top pick among vehicle financiers.

The report recommends a Hold rating on Blue Star, citing strong fundamentals and sustainable stock performance despite the stock trading at 43x FY27E PE amid a broader market correction.

The report notes Q3FY25 revenue grew 23.5% YoY to Rs1467.4cr with EBITDA up 11.3% YoY but margins contracting, and at ~34.4x TTM P/E recommends investors hold the stock.

The CTFT cash-only section notes a Pine Labs Buy call where the first target was achieved and profit booked at 1.88% gain.

The CTFT cash-only section notes a Birlacorp Buy call that was exited with a 0.16% gain.

The Momentum Swing section notes a Titan November futures Buy call that was exited at a small loss of -0.84%.

The Momentum Swing section lists a Buy call on OFSS November futures with stop loss 9,767 and targets 10,220 and 10,415, showing a small gain.

The Momentum Swing section lists a Buy call on Lupin November futures with stop loss 1,937 and targets 2,025 and 2,060.

The Smart Charts section lists a Buy call on KEC dated 28 Oct 26 with stop loss 326 and targets 355 and 368, currently near breakeven.

The note gives a technical BUY call on SBI Life at CMP Rs 1,667 with stop loss 1,607 and targets 1,740 and 1,770.

The note gives a technical BUY call on Persistent at CMP Rs 5,848 with stop loss 5,635 and targets 6,095 and 6,200.

ICICI Bank is listed under long unwinding with LTP 1381.2, down 0.83%, and OI change of -0.46%.

GAIL is listed under long unwinding with LTP 166.1, down 1.06%, and OI change of -0.46%.

Petronet LNG is listed under long unwinding with LTP 286.45, down 1.68%, and OI change of -0.53%.

APL Apollo Tubes is listed under long unwinding with LTP 2180.3, down 1.46%, and OI change of -0.57%.

Ather Energy is listed under long unwinding with LTP 1655.5, down 0.93%, and OI change of -0.92%.

Cholamandalam Investment & Finance is listed under long buildup with LTP 1553.9, up 5.61%, and OI change of 9.84%.

UPL is listed under long buildup with LTP 536, up 4.61%, and OI change of 10.45%.

Bajaj Auto is listed under long buildup with LTP 10534, up 0.76%, and OI change of 10.6%.

PG Electroplast is listed under long buildup with LTP 541.05, up 7.69%, and OI change of 11.84%.