Research notes

The report reiterates a BUY rating on Coforge with a target price of INR2,370 (25% upside), citing strong order intake, margin guidance upgrade to 16% for FY27, and expected growth acceleration in 2HFY27 as Encora integration completes.

The report reiterates a BUY rating on Infosys with a target price of INR1,300 (13% upside), despite noting a miss on 2QFY27 revenue, a cut in FY27 revenue growth guidance to 1-2% YoY CC from 1.5-3.0%, and margin pressure from competitive pricing and the Daimler deal exit.

The report says DCB Bank's Q2FY27 earnings beat estimates with loan growth accelerating to 21% YoY and PAT up 29% YoY, maintaining BUY with revised TP of INR270.

The report says Godrej Properties reported presales of INR 80bn, added new projects worth INR 155bn in H1FY27, and the firm maintains BUY with TP of INR 2,258/sh on expected rerating triggers.

The report says SBI Cards showed improved credit costs but receivables growth remained negative YoY, maintaining REDUCE with revised TP of INR 600.

The report says IndusInd Bank's Q2FY27 earnings beat estimates on lower provisioning but flags structural challenges like a sub-par deposit franchise, maintaining REDUCE with revised TP of INR815.

The report says HPCL reported Q2FY27 EBITDA of INR 90.8bn driven by strong refining performance and narrowed marketing losses, maintaining BUY with TP of INR 415.

The report says Dr Reddy's EBITDA declined 27% YoY on a 3% sales decline driven by a 30% YoY US decline, with TP revised to INR 1,270 and REDUCE rating retained.

The report says Torrent Pharma delivered 54% YoY EBITDA growth and 51% YoY sales growth aided by JB Chemicals integration, with TP revised to INR 5,000.

The report says SHFL's Q2FY27 earnings beat estimates on NIM reflation and lower opex despite higher credit costs and QoQ asset quality deterioration, with TP revised to INR 1,210 on an RI-based model.

The report says Infosys posted 1.2% QoQ CC revenue growth, cut FY27 CC growth guidance to 1-2%, retained EBIT margin guidance of 20-22%, and saw strong deal wins and AI revenue growth, with estimates slightly trimmed.

The report notes a Momentum Swing BUY call on M&M October futures from 15 Oct 26 was exited at a -1.05% loss.

The report notes a Momentum Swing SELL call on CDSL November futures from 21 Oct 26 achieved its first target and booked a 2.04% profit.

The report notes a Momentum Swing BUY call on Bharti Airtel November futures from 22 Oct 26 was stopped out at 1875 for a -2.19% loss.

The report tracks a Momentum Swing SELL call on Divis Lab November futures from 23 Oct 26 showing a current gain of 1.07%.

The report notes a prior Smart Charts Sell call on Solar Industries dated 21 Oct 26 booked a profit of 4.02%.

The report notes a prior Smart Charts Buy call on PVRINOX dated 22 Oct 26 was stopped out at 1395 for a -3.33% loss.

The report gives a technical SELL call on Persistent at CMP 5728 with stoploss 5915 and targets 5500/5430.

The report gives a technical SELL call on HAL at CMP 4725 with stoploss 4844 and targets 4590/4550.

The note reports a 65.9% YoY decline in consolidated net profit to ₹16.34 crore, while operating revenue jumped 84.6% YoY to ₹32.42 crore.

The note reports a 15.6% YoY decline in net loss to ₹922 crore in Q2FY27, with revenue from operations up 36% YoY to ₹7,571 crore.

The note reports net profit rose 4.3% to ₹341.6 crore in Q2FY27, with a first interim dividend of ₹24 recommended and November 2 fixed as record date.

The note reports an 11% increase in PAT to ₹898 crore in Q2FY27, with revenue up 18% to ₹12,874 crore from ₹10,893 crore a year earlier.

The note states Indian Bank has raised interest rates on its special term deposit schemes by 15 basis points, effective October 23.

The note reports a 3% YoY rise in standalone net profit to ₹167 crore for the September quarter, with revenue up 34% to ₹2,102 crore.