Research notes

The note says DGTR recommended a five-year continuation of anti-dumping duty on flat-rolled aluminium imports from China, which is noted as benefiting Hindalco.

The technical snapshot lists the stock as bearish for intraday at CMP 3,338 with support 3,271 and resistance 3,371.

The technical snapshot lists the stock as bullish for intraday at CMP 811 with support 803 and resistance 827.

The note says the company's arm received an LoA worth Rs 488 crore from NTPC GE Power Services for commissioning 5.015 MWh BESS containers.

The note says the company received an order to supply 2 GW of solar modules.

The note says Jeena Sikho Lifecare launched two Ayurvedic tablets on 21 September 2026.

The note says the company approved an unsecured loan of up to Rs 28 crore to wholly owned subsidiary Smaaash on 21 September 2026.

The note says the company's investor presentation shows FY27 crude steel production of 4.757 mt, hot metal 5.051 mt and saleable steel 4.516 mt.

The note says the company raised conductor manufacturing capacity by 70% to 40,800 km per annum on completion of Phase 1 of its brownfield expansion.

The note says the company plans over Rs 7,000 cr capex across 5-6 years to expand copper capacity and scale Malanjkhand, Khetri, Indian Copper Complex, Taloja and Gujarat projects, and also reports an arm receiving an LoA worth Rs 488 crore from NTPC GE Power Services.

The note says the company's renewable energy mix is expected to reach 70% by end-FY27, with the Augene and Re Aarti JVs under execution.

The note says the company will raise Rs 1,550 cr via NCDs, invest Rs 140 cr for capacity addition and upgrade DRI capacity at Ghugus to 8,15,000 MTPA and Konsari to 92,400 MTPA, taking total DRI capacity above 9,00,000 MTPA.

The report mentions Ambuja Cements as a planned northeast entrant with over 3mn MT expected by late FY29E/early FY30E, per HSIE's view.

The report mentions JK Lakshmi as a planned new entrant in the northeast with 1.5mn MT expected by end of FY29, per HSIE's view.

The report mentions Shree Cement among new entrants planning greenfield capacity in the northeast, with 1mn MT by end of FY28.

The note states Dalmia Bharat, alongside Star Cement, is an incumbent leader in the northeast generating ~INR 1,500-2,000/MT EBITDA and will benefit from limited competition until late FY29.

The report maintains BUY with a reduced target price of INR 250/share (12x Sep'28E consolidated EBITDA), saying management expects flattish Q2FY27 volumes YoY and an industry-best margin of ~INR 1,400/MT, with 12% volume CAGR estimated over FY26-29E, ~INR 100/MT logistics cost savings from FY28E, roughly flat EBITDA over FY26-29E and net debt/EBITDA peaking at ~2.3x in FY29E.

The note says HDFC Securities maintains SELL on Acutaas Chemicals with a raised target price of INR 2,210 (from INR 1,569) versus a CMP of INR 3,440, expecting revenue/EBITDA/APAT CAGR of 22/23/21% over FY26-FY29E, RoE declining 214bps to 21.9% by FY29E, and viewing the stock's 64.7/52.3/44.9x FY27/28/29E EPS multiples and ~58x one-year forward PE as contextually high.

The report initiates coverage with a BUY rating and a target price of INR 1,407 based on 54x Sep-28E EPS (CMP INR 993 as on 17 Sep 2026), projecting revenue CAGR of ~19% to INR 84bn and PAT CAGR of ~32% to INR 18bn over FY26-30E, with EBITDA margin in the ~30-34% band and the possibility of a valuation re-rating toward MNC capital-goods multiples.

The note states a buy on Deepak Fert in the 1335-1345 range (CMP 1335, add on dip 1300) with a stop loss of 1270 and target of 1425 over a horizon of up to 10 days, citing an intraday chart breakout, a jump in volumes, a bullish hourly RSI setup and higher tops/higher bottoms on hourly charts.

The note says to buy the Sona Comstar October future at a CMP of 808 with an average level of 783, stop loss of 770 and target of 858 over a 1-10 day horizon, citing a long build-up in futures and the stock trading above its 5, 11 and 200 day EMAs.

The technical snapshot lists PNB Housing as a bearish intraday call with CMP 1106, support 1084 and resistance 1117.

The technical snapshot lists Laurus Labs as a bullish intraday call with CMP 1958, support 1938 and resistance 1997.

The note states the company's QIP opened with a floor price of Rs 1,947.70 per share.

The note states NTPC invoked a Rs 49.5 crore mobilisation advance bank guarantee and Rs 41.3 crore insurance performance surety bonds against the company.