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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

24 Oct 2026, 06:29 IST IndusInd Bank Limited HDFC Securities REDUCE target INR815

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.

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24 Oct 2026, 06:29 IST Dr. Reddy's Laboratories Limited HDFC Securities REDUCE target INR 1,270

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.

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24 Oct 2026, 06:29 IST Torrent Pharmaceuticals Limited HDFC Securities ADD target INR 5,000

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.

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24 Oct 2026, 06:29 IST Shriram Finance Limited HDFC Securities ADD target INR 1,210

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.

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24 Oct 2026, 06:29 IST Infosys Limited HDFC Securities BUY target INR 1,250

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.

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23 Oct 2026, 17:14 IST Bharti Airtel Limited Sharekhan (Mirae Asset Sharekhan) BUY

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.

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23 Oct 2026, 17:14 IST Divi's Laboratories Limited Sharekhan (Mirae Asset Sharekhan) SELL

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

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23 Oct 2026, 17:14 IST PVR INOX Limited Sharekhan (Mirae Asset Sharekhan) Buy

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.

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23 Oct 2026, 17:14 IST Persistent Systems Limited Sharekhan (Mirae Asset Sharekhan) SELL target 5430

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

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23 Oct 2026, 11:00 IST Swiggy Limited Jainam Broking Limited

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.

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23 Oct 2026, 11:00 IST Colgate Palmolive India Jainam Broking Limited

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.

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23 Oct 2026, 11:00 IST Jindal Stainless Limited Jainam Broking Limited

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.

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23 Oct 2026, 11:00 IST Indian Bank Jainam Broking Limited

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

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23 Oct 2026, 11:00 IST Adani Total Gas Limited Jainam Broking Limited

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.

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23 Oct 2026, 11:00 IST Tech Mahindra Limited Jainam Broking Limited

The note states Tech Mahindra has announced a collaboration with AI coding platform SpaceXSI to help modernise legacy applications and scale AI-assisted engineering.

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23 Oct 2026, 11:00 IST Hatsun Agro Product Limited Jainam Broking Limited

The note reports a 5.61% rise in net profit to ₹115.69 crore during the September quarter, with total income up 19.35% to ₹2,902.49 crore.

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23 Oct 2026, 11:00 IST Rallis India Limited Jainam Broking Limited

The note reports a 17.47% decline in net profit to ₹85 crore for the quarter ended September 30, 2026, with revenue flat at ₹858 crore.

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