Research notes

The report notes Zydus received final USFDA approval for a generic estradiol/levonorgestrel hormone patch addressing a ~US$45.7 million US market.

The report states BEL secured additional orders worth ₹1,011 crore since October 13 across radar, communication and defence equipment segments.

The report notes Sagility will acquire US-based Chirok Health LLC for up to US$32.35 million, adding clinical and medical coding capabilities.

The report notes UNITDSPR saw long unwinding with price down 5.45%.

The report notes SRF saw short buildup with price down 5.62% and OI up 6.10%.

The report notes IDEA saw long unwinding with price down 5.28%.

The report notes VMM saw short buildup with price down 5.51% and OI up 10.05%.

The report notes SIEMENS saw short buildup with price down 4.90% and OI up 2.32%.

The report notes ABB saw short buildup with price down 6.24% and OI up 12.25%.

The report notes MANAPPURAM saw short buildup with price down 6.23% and OI up 3.16%.

The report notes BAJFINANCE saw short buildup with price down 4.03% and OI up 2.28%.

The report notes HCLTECH saw short covering with price up 2.62%.

The report notes Wipro saw short covering with price up 3.79%.

The report notes TCS saw short covering with price up 2.57% and OI down 4.48%.

The report notes INFY saw a long buildup with price up 3.67% and OI up 7.85%.

The report states Bank Nifty Futures declined 1.03-1.06% with a trendline breakdown and long unwinding, with support at 54400-54500 and resistance at 55500-55600.

The report notes Nifty Futures fell 0.66% with long unwinding, rising India VIX and falling PCR, suggesting a resumption of the downtrend, with support at 22630-22650 and resistance at 22960-22980.

The report maintains a BUY rating with an SOTP-based target price of INR 395/share, citing accelerating Food Delivery growth and Blinkit's expanding scale despite trimming FY27/28 adjusted EBITDA estimates by about 8% each as management prioritizes market share gains over margin.

The report says MMFS delivered steady profitability and asset quality with 15% YoY loan growth, but flagged NIM pressure, rate hikes, and potential insurance distribution regulation as headwinds, maintaining an ADD rating with an unchanged SOTP-based target of INR 400.

The report says VMM posted 14% YoY revenue growth with SSSG moderating to 5.4% (festive-adjusted ~9%), margins contracted due to minimum wage impact and new store costs, and the firm trimmed FY27/28 EPS estimates by ~4%/3% while maintaining BUY with a reduced DCF-based target of INR 135 (from INR 140).

The report says IHCL's Q2FY27 revenue grew 22% YoY to INR 24.8bn on strong RevPAR growth, management upgraded FY27E revenue growth guidance to 15-17%, and the firm rolled forward valuation to FY29 at 25x EV/EBITDA for a raised target of INR 838 while maintaining BUY.

The CTFT table shows a Jain Irrigation (JAINREC) Buy call from 21 Oct 26 that was stopped out with a loss of 1.44%.

The CTFT table shows a Sobha Buy call from 21 Oct 26 that was stopped out with a loss of 1.27%.

The CTFT table shows a Fiem Industries Buy call from 21 Oct 26 currently showing a small gain of 0.11%.

The Momentum Swing table shows an M&M October futures Buy call from 15 Oct 26 currently showing a small loss of 0.42%.