Research notes

The report notes HDFC Bank declined 2.31% and was the major source of weakness in Bank Nifty.

The note says Shoppers Stop's topline grew 4.4% YoY in Q2 with improved margins, but maintains a REDUCE rating with a DCF-based target of INR 360.

The note says Sobha reported presales growth in Q2FY27 and guided FY27 presales of INR 105bn, maintaining BUY with a target of INR 1,930.

The note says L&T Technology Services delivered strong Q2FY27 revenue growth and margin expansion, with the target price revised to INR 3,700 based on 20x Sep-28E EPS.

The note says Piramal Finance's Q2FY27 earnings were largely in line with estimates on healthy AUM growth, maintaining ADD with a target of INR 2,000.

The note says Oberoi Realty posted presales of INR 91.5bn led by 360 North and maintains BUY with a target of INR 2,490.

The note says Union Bank's earnings were in line with estimates on healthy NII growth and improving asset quality, maintaining ADD with a target of INR 210.

The note says UltraTech delivered 13% consolidated volume growth in Q2FY27 and expects cement price stability to drive margin rebound, maintaining BUY with an unchanged target of INR 14,500.

The note says Bajaj Finance reported strong AUM growth of 26.5% YoY with credit costs in line with guidance, and maintains BUY with an unchanged target of INR 1,200.

The report says UltraTech reported in-line 2QFY27 earnings with ~19%/20% YoY growth in consolidated revenue/EBITDA, strong volume growth of ~13% YoY, and reiterates a BUY rating with a target price of INR13,220 based on 18x FY28E EV/EBITDA.

The CTFT section notes Shri Piston's Buy call had its first target achieved with profit booked, with a further target of 4750.

The Momentum Swing section lists a Buy futures call on M&M October futures with stoploss 2803 and targets 2945 and 2980.

The Momentum Swing section notes the PGEL October futures Buy call was stopped out, with targets of 540 and 555.

The Momentum Swing section lists a Buy futures call on Adani Ports October futures with stoploss 1718 and targets 1796 and 1820.

The Momentum Swing section lists a Buy futures call on Aditya Birla Capital October futures with stoploss 372.75 and targets 390 and 400.

The Momentum Swing section lists a Buy futures call on Titan October futures with stoploss 4389 and targets 4589 and 4675.

The Momentum Swing section lists a Sell futures call on Premier Energies November futures with stoploss 922 and targets 880.10 and 866.

The Smart Charts section lists a Buy call on TMPV (Tata Motors Passenger Vehicles) with stoploss 272, entry 280, and targets 293 and 300.

The Smart Charts section lists a Buy call on Nykaa with stoploss 333, entry 342.65, and targets 358.50 and 370.

The Smart Charts section lists a Buy call on Tata Chemicals with stoploss 613, entry 640.20, and targets 675 and 700.

The Smart Charts section lists a Buy call on RBA with stoploss 89, entry 92.93, and targets 96.50 and 100.

The Smart Charts section lists a Buy call on Shriram Finance with stoploss 920, entry 953.80, and targets 1000 and 1036.

The Smart Charts section lists a Buy call on Paras with stoploss 1251, entry 1309, and targets 1364 and 1400.

The Smart Charts section lists a Sell call on Radico with stoploss 4615, entry 4481, and targets 4250 and 4120.

The note gives a technical BUY call on Dr Reddy's at CMP 1243 with stoploss 1206 and targets of 1295 and 1330.