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Research notes

What India's research desks published, reported with attribution and linked to the original notes. Orivam issues no recommendations of its own.

2548 notes · all time

09 Oct 2026, 12:28 IST MGFL HDFC Securities REDUCE target Rs 315

The report rates MGFL REDUCE with target raised slightly from Rs 310 to Rs 315.

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09 Oct 2026, 12:28 IST MUTHOOT HDFC Securities ADD target Rs 3,070

The report rates MUTHOOT ADD with target raised from Rs 3,020 to Rs 3,070, noting astronomical gold loan growth and competitive pricing pressure on margins.

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09 Oct 2026, 12:28 IST LICHF HDFC Securities ADD target Rs 676

The report rates LICHF ADD with target raised from Rs 655 to Rs 676.

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09 Oct 2026, 12:28 IST CANF HDFC Securities BUY target Rs 1,060

The report names CANF one of its top picks among HFCs with a BUY rating and target raised from Rs 1,040 to Rs 1,060.

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09 Oct 2026, 12:28 IST Aavas Financiers Limited HDFC Securities BUY target Rs 1,540

The report names AAVAS one of its top picks among HFCs with a BUY rating and unchanged target of Rs 1,540.

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09 Oct 2026, 12:28 IST CREDAG HDFC Securities ADD target Rs 1,570

The report rates CREDAG ADD with target lowered from Rs 1,590 to Rs 1,570.

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09 Oct 2026, 12:28 IST SUF HDFC Securities ADD target Rs 5,000

The report rates SUF ADD with target raised from Rs 4,835 to Rs 5,000.

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09 Oct 2026, 12:28 IST SHTF HDFC Securities ADD target Rs 1,200

The report rates SHTF ADD with target raised from Rs 1,100 to Rs 1,200.

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09 Oct 2026, 12:28 IST MMFS HDFC Securities ADD target Rs 400

The report rates MMFS ADD with target raised from Rs 385 to Rs 400.

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09 Oct 2026, 12:28 IST CIFC HDFC Securities ADD target Rs 1,950

The report calls CIFC its top pick among vehicle financiers, rated ADD, with target raised from Rs 1,810 to Rs 1,950.

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09 Oct 2026, 12:28 IST ABCAP HDFC Securities ADD target Rs 416

The report rates ABCAP ADD with target raised from Rs 390 to Rs 416.

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09 Oct 2026, 12:28 IST PIRAMALF HDFC Securities ADD target Rs 2,000

The report rates PIRAMALF ADD with target raised from Rs 1,960 to Rs 2,000.

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09 Oct 2026, 12:28 IST PFL HDFC Securities REDUCE target Rs 390

The report rates PFL REDUCE with target raised from Rs 365 to Rs 390.

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09 Oct 2026, 12:28 IST BAF HDFC Securities BUY target Rs 1,200

The report calls BAF its top pick among diversified NBFCs with a BUY rating and raised target price from Rs 1,100 to Rs 1,200.

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09 Oct 2026, 10:20 IST Dr. Lal Path Labs Ltd. HDFC Securities BUY target INR 2,220

The report maintains a BUY rating with a revised target price of INR 2,220 (based on 46x Q2FY29E EPS), citing steady volume-led growth, margin stability around 29.2-29.3%, wellness segment traction, and recent M&As in genomics (SN Gene) and international markets (Sunshine Healthcare, Ghana).

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09 Oct 2026, 08:31 IST Bank Nifty SBICAP Securities Limited (SBI Securities)

The report says Bank Nifty Futures closed 0.92% lower with long unwinding, trading near the lower end of its range, with support at 54000-53900 and downside risk towards 53400 and 52800 if broken.

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09 Oct 2026, 08:31 IST NIFTY 50 SBICAP Securities Limited (SBI Securities)

The report says Nifty Futures extended selling pressure for a second session, closing 1.50% lower with fresh short build-up and a bearish Put-Call Ratio, and may extend decline towards 22100 with support near 21950.

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09 Oct 2026, 06:25 IST Tata Consultancy Services Limited HDFC Securities ADD target INR 2,470

The report says TCS's Q2FY27 revenue grew 0.5% QoQ in constant currency, led by international business and AI adoption, with annualized AI revenue surpassing USD 3bn and contributing ~10% of revenue, while margins remain a monitorable due to elevated subcontracting costs and MHP consolidation, and maintains an ADD rating with a target price of INR 2,470 based on 15x Sep-28E EPS.

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