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Research notes

What India's research desks published, reported with attribution and linked to the original notes. Orivam issues no recommendations of its own.

Times are IST

2525 notes · all time

28 Oct 2026, 06:45 IST Radico Khaitan Limited HDFC Securities BUY target INR 5,300

The report maintains a BUY rating with a Sep-27 target price of INR 5,300, citing strong Q2FY27 execution with revenue up 17%, EBITDA up 50%, and earnings up 67%, driven by premiumization and raised FY27 P&A volume growth guidance to 30%.

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28 Oct 2026, 06:28 IST Indiamart Intermesh Limited HDFC Securities ADD target INR 1,900

The report says IndiaMart delivered a moderate quarter with ARPU-led growth offsetting declining paying subscribers, maintaining ADD with a DCF-based TP of INR 1,900.

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28 Oct 2026, 06:28 IST Acutaas Chemicals Limited HDFC Securities SELL target INR 2,427

The report says Acutaas Chemicals beat Q2 estimates on EBITDA/APAT but maintains SELL due to high near-term valuations, with TP of INR 2,427.

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28 Oct 2026, 06:28 IST JK Cement Limited HDFC Securities BUY target INR 6,130

The report says JK Cement delivered strong volume growth and EBITDA growth in Q2FY27, maintaining BUY with unchanged TP of INR 6,130.

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28 Oct 2026, 06:28 IST Mazagon Dock Shipbuilders Limited HDFC Securities ADD target INR 2,300

The report says MDL posted a disappointing quarter with declining revenue and EBITDA due to weak order book execution, but maintains a long-term constructive ADD rating with reduced multiple and TP of INR 2,300.

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28 Oct 2026, 06:28 IST Tata Capital Limited HDFC Securities ADD target INR 365

The report says Tata Capital's Q2FY27 earnings beat estimates on lower credit costs and AUM growth despite NIM compression, maintaining ADD with a revised TP of INR 365.

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28 Oct 2026, 06:28 IST SBI Life Insurance Company Limited HDFC Securities BUY target INR2,320

The report says SBI Life beat estimates on APE/VNB growth and margin expansion from product mix shift, maintaining a high-conviction BUY with revised TP of INR2,320.

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28 Oct 2026, 06:28 IST Larsen & Toubro Limited HDFC Securities BUY target INR 4,680

The report says L&T beat revenue and APAT estimates with record order book and robust order inflows, maintaining BUY with a revised SOTP target of INR 4,680.

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27 Oct 2026, 16:27 IST BIRLACORP Mirae Asset Sharekhan Buy target 820 / 835

Under CTFT, the report lists an ongoing Buy call on Birla Corporation entered at 804.70 with stop loss 790, current price 800.05, and targets of 820 and 835.

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27 Oct 2026, 16:27 IST Karur Vysya Bank Limited Mirae Asset Sharekhan Buy target 352 / 358

Under CTFT, the report notes a Buy call on Karur Vysya Bank where profit was booked at 351.50, with listed targets of 352 and 358.

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27 Oct 2026, 16:27 IST The Phoenix Mills Limited Mirae Asset Sharekhan Buy target 1,945 / 1,970

Under Momentum Swing, the report notes a Buy call on Phoenix Mills Nov futures that was exited at 1,919.30, with listed targets of 1,945 and 1,970.

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