Research notes

The report expects CDSL to deliver a strong quarter driven by demat account additions and IPO revenue recovery, maintaining BUY with a revised target of INR 1,570 from INR 1,620.

The report expects BSE to post a soft quarter due to lower industry options premium ADTV and regulatory impact, maintaining ADD with a revised target of INR 3,950 from INR 3,850.

The report expects MCX to post a strong quarter on recovering options premium volumes and raises FY27-29E EPS, maintaining BUY with a revised target of INR 3,900 from INR 3,600.

The Momentum Swing section lists an open Buy call on Radico Khaitan October futures with stop loss 4493.00 and targets of 4700.00 and 4790.00.

The Momentum Swing section notes a Buy call on Federal Bank October futures that was exited, showing a 0.99% gain.

The Momentum Swing section lists an open Buy call on Bajaj Finance October futures with stop loss 949.00 and targets of 992.00 and 1014.00.

The Momentum Swing section notes a Buy call on Nippon AMC October futures that achieved its first target with profit booked at a 1.94% gain.

The Momentum Swing section notes a Buy call on Supreme Industries October futures with profit booked at a 2.00% gain, with targets of 3625.00 and 3695.00.

The Momentum Swing section notes a Buy call on Union Bank October futures that was exited, showing a 0.82% gain, with targets of 177.00 and 179.00.

The Momentum Swing section lists a Buy call on IDFC First Bank October futures with stop loss 78.45 and targets of 82.00 and 83.20.

The Momentum Swing section lists a Buy call on ITC Hotels with stop loss 153.00 and targets of 160.50 and 163.00.

The Momentum Swing section lists a Sell call on Hindalco October futures with stop loss 911.20 and targets of 871.00 and 857.00.

The Momentum Swing section lists a Sell call on Laurus Labs October futures with stop loss 2070.00 and targets of 1990.00 and 1960.00.

The Smart Charts section lists an open Buy call on Tata Motors PV with stop loss 272.00 and targets of 293.00 and 300.00.

The Smart Charts section notes a Buy call on REC Ltd with profit booked at a stop loss level, showing 4.40% gain, with further targets of 313.00 and 324.00.

The Smart Charts section lists an open Buy call on Nykaa with stop loss 333.00 and targets of 358.50 and 370.00.

The Smart Charts section lists an open Buy call on Mankind Pharma with stop loss 2315.00 and targets of 2525.00 and 2640.00.

The Smart Charts section lists an open Buy call on Tata Chemicals with stop loss 613.00 and targets of 675.00 and 700.00.

The Smart Charts section lists an open Buy call on RBA with stop loss 89.00 and targets of 96.50 and 100.00.

The report issues a technical BUY call on VBL with stoploss 433 and targets of 455 and 463.

The report issues a technical SELL call on Aurobindo Pharma with stoploss 1715 and targets of 1600 and 1575.

The report expects revenue to grow 29.9% YoY though EBITDA margin is seen declining 710.7bps YoY to 23.4%.

The report expects APAT to rise 228.8% YoY despite EBITDA margin contraction of 187.3bps QoQ.

The report expects revenue to grow 37.7% YoY but EBITDA margin to contract 406.3bps QoQ to 20.5%.

The report expects EBITDA margin to fall 349.5bps QoQ to 7.5% despite 20% YoY revenue growth.