Research notes

The note reports Global Health acquired a Rs 166 crore land parcel in Ghaziabad with potential for a 350-bed hospital.

The note states Nuvoco Vistas will buy a 26% stake in Clean Max Ilgohp Pvt Ltd's SPV to set up a renewable energy unit.

The note reports that Premier Energies' Vinay Rustagi said the company's cell manufacturing capacity has tripled and that it is working to mitigate input cost pressures, with metal and freight costs cited as key challenges.

The note says offline execution, where the channel accounts for ~35% of business (50%+ for Mamaearth), is central to the next phase of growth, with management targeting 3x expansion in direct reach to 300k outlets over three years and value-weighted distribution rising from 40-45% to 80-85%; HSIE expects ~25% revenue growth in Q2FY27 with ~12% operating profit margin and reiterates BUY with a Sep-27 TP of INR 550 on 5x EV/sales (cut from 5.25x on sector de-rating).

The report lists MAZDOCK as a quant intraday sell idea with close price 2139, stop loss 2160 and target 2118.

The report lists IREDA as a quant intraday sell idea with close price 114.5, stop loss 115.7 and target 113.4.

The report flags Steel Strips Wheels as a technical stock on radar showing momentum above 304 and respecting its 20DEMA.

The report recommends selling Indus Towers futures expiring 27th October, citing a range breakdown and resistance near 50DEMA at 372.

The report recommends selling Canara Bank futures at CMP ₹121 with stop loss ₹125 and target ₹113, citing a trendline breakdown and bearish candle.

The report lists Syrma SGS Technology as a focus investment idea with a Buy rating and target of Rs 2,000 (15% upside).

The report lists Emcure Pharma as a focus investment idea with a Buy rating and target of Rs 2,300 (19% upside).

The report lists Eternal as a focus investment idea with a Buy rating and target of Rs 430 (30% upside).

The report lists Adani Ports as a focus investment idea with a Buy rating and target of Rs 2,130 (22% upside).

The report lists SPR Auto Technologies as a focus investment idea with a Buy rating and target of Rs 6,150 (32% upside).

The report gives a Velocity Buy idea on Hindustan Aeronautics with a target of ₹5,500 (12% upside) and stop loss of ₹4,600, citing improved GE F404 engine deliveries for Tejas Mk1A.

The report reiterates a Buy rating on Sun Pharma with a target price of INR 2,310 (26% upside), citing tariff exemptions for specialty drugs and European approval of its PCSK9 inhibitor.

The report initiates coverage on Aster DM Quality Care with a Buy rating and target price of INR 910, implying 22% upside, citing the Aster DM Healthcare-QCIL merger creating a scaled pan-India platform.

The report notes Coforge appointed Akhil Gupta as Non-Executive Independent Director and Chairperson for five years effective September 29.

The report notes LG announced a 5-7% hike in air-conditioner prices effective October 1, joining peers raising AC prices ahead of the festive season.

The report notes the US FDA concluded its inspection of Zydus's Ahmedabad facility with just one observation, a mild outcome removing a key regulatory overhang.

The note says LTTS reported Q4FY24 revenue of US$305.1mn (+5.0% QoQ, +5.8% YoY) with EBIT margin at 16.9% and PAT of Rs 3.41bn, and that Way2Wealth maintains its ACCUMULATE stance citing strong fundamentals and clientele, with the stock trading at 31.7x FY26E EPS of Rs 148.2, while noting management has guided FY25 revenue growth of 8-10% and lowered margin guidance from 18% to 16%.

The note says JK Cement delivered a 67% YoY rise in Q1FY25 profit to Rs 185crs on 5% volume growth and lower energy costs, is on track for 30mtpa capacity by FY26, and recommends accumulating on dips with the stock trading at 14x FY26E EV/EBITDA, while flagging input-cost inflation and a significant decline in cement pricing as key risks.

The note says Gabriel India reported Q1FY25 revenue of ~Rs 9.5bn (+18% YoY) with EBITDA margin at 9.6% and PAT up 37.1% YoY, and retains a BUY with a target range of Rs 590-600 based on 19.3x FY26E EPS of Rs 25.3, citing Core-90 programme benefits, the sunroof business at ~14% EBITDA margin despite DPIIT rejecting the Inalfa JV, new products (solar dampers, e-bike suspension) and a debt-free balance sheet.

The AMC-wise tables show fresh or sharply increased positions in Adani Wilmar at ICICI Prudential, Nippon, UTI and Mirae in January 2025.

The report shows HDFC Bank as the largest single holding in the top-10 lists of most AMCs covered, including SBI, ICICI Prudential, HDFC, Nippon and Kotak.