Research notes

The report lists Radico Khaitan under long build-up, with price up 1.28% and OI up 7.17%.

The report lists Kalyan Jewellers under long build-up, with price up 5.78% and OI up 9.01%.

The report lists Ujjivan Small Finance Bank under long build-up, with price up 1.52% and OI up 29.01%.

The report lists Anand Rathi among long build-up stocks, with price up 0.83% and open interest up 77.33%.

The note says Dr Reddy's has recovered from the 1,200 support zone, reclaimed its 20- and 50-DEMA with RSI above 50 and a positive MACD crossover, and proposes a bull call spread with hurdles at 1,250-1,260.

The report upgrades APL Apollo Tubes to BUY from ADD with a higher target price of INR 2,350 (35x Sep'28E adjusted EPS), citing strong Q2FY27 volume recovery of 13% YoY/29% QoQ led by high-margin branded pipes and roofing products, robust margin outlook of ~INR 5,500/MT, upcoming capacity additions to 8mn MT by FY28E, expected UAE profitability rebound from FY28E, and projected 14/16/20% volume/EBITDA/adjusted PAT CAGR over FY26-29E.

The note maintains a BUY rating on Radico Khaitan with a Sep-27 target price of INR 5,300 on 55x P/E, citing superior execution, vodka-led margin uplift, and confidence in sustaining above-20% EBITDA margins in FY27E.

The report states that Gujarat Inject secured a ₹4.86 Cr solar order, which it describes as boosting the company's clean-energy pivot.

The report states that Hi-Tech Pipes reported Q2FY27 sales volume of 1,65,016 MT, up 32% YoY and 6% QoQ.

The report states that A B Infrabuild Limited received a Letter of Award for construction of two grade separators on NH-53 in Chhattisgarh under the EPC mode.

The report maintains a BUY rating with a Sep-27 target price of INR700 on 35x P/E, citing management's focus on strengthening the Imperial Blue franchise, premiumization efforts, improving leverage, and potential catalysts from Telangana price hikes and Tamil Nadu market opening.

The report expects Gopal Snacks' revenue to grow 20% YoY but adjusted PAT to decline 24% YoY in Q2FY27E.

The report forecasts 28% revenue growth and 68% adjusted PAT growth YoY for Honasa Consumer in Q2FY27E, aided by margin expansion.

The report expects Bikaji's revenue to grow 11% YoY but EBITDA and adjusted PAT to decline 16% and 15% respectively in Q2FY27E.

The report forecasts 20% revenue growth but only 4% adjusted PAT growth YoY for Emami in Q2FY27E, naming it among preferred names.

The report expects Colgate to post 16% revenue growth and 21% adjusted PAT growth YoY in Q2FY27E, aided by margin expansion.

The report forecasts 11% revenue growth and 9% adjusted PAT growth YoY for Dabur in Q2FY27E, citing inflationary headwinds on margins.

The report expects GCPL to post 18% revenue growth and 10% adjusted PAT growth YoY, listing it among preferred stronger execution-led names.

The report forecasts 16% revenue growth and 31% adjusted PAT growth YoY for Marico in Q2FY27E.

The report expects Britannia to post 12% revenue growth and 10% adjusted PAT growth YoY in Q2FY27E on a low base, naming it among preferred execution-led stocks.

The report upgrades Nestlé India to BUY given sector-wide de-rating making its valuation more reasonable, and forecasts 21% revenue growth and 37% adjusted PAT growth in Q2FY27E.

The report forecasts 7% revenue growth but a 24% YoY decline in EBITDA and adjusted PAT for ITC due to cigarette excise impact and margin stress.

The report expects 11% YoY revenue growth and 8% YoY adjusted PAT growth for HUL in Q2FY27E, aided by a low base.

The report lists an intraday futures trading idea to buy HAL Future above 4670 with a target of 4640 and stoploss of 4730, reflecting a short-bias setup.

The report lists an intraday trading idea to buy RECLTD above 553 with a target of 562 and stoploss of 546.