Research notes

The report notes ICICI Bank was among the stocks leading the Bank Nifty rally.

The weekly call tracker lists an open Buy call on MBAPL from 02-11-2026 with entry 177.11, stop loss 159 and target 200.

The daily call tracker lists an open Buy call on GAIL from 03-11-2026 with entry 174, stop loss 168 and target 190.

The daily call tracker lists an open Buy call on Eicher Motors from 04-11-2026 with entry 7440, stop loss 7227 and target 7800.

The daily call tracker lists an open Buy call on IIFL from 05-11-2026 with entry 566, stop loss 537 and target 627.

The report maintains a BUY rating with a Sep-27 target price of INR 700, valuing the stock at 45x P/E, and expects faster H2 revenue growth of ~18% along with margin expansion in Q3, while flagging that a stronger Q3 performance is critical to rebuilding investor confidence after a ~28% YTD stock decline.

The report says Teamlease delivered soft topline growth but better margins, with professional staffing as the growth engine, maintaining ADD with TP INR1,350.

The report says Somany Ceramics' revenue grew 26% YoY with EBITDA margin expanding 380bps YoY, raising TP to INR700 and maintaining ADD.

The report says JK Lakshmi's margin slumped YoY on rising energy and packing costs but expects recovery from Q3FY27 price hikes, maintaining ADD with unchanged TP INR680.

The report says Galaxy Surfactants' Q2 EBITDA/APAT were above estimates aided by a new Unilever framework agreement and a BASF-related market opportunity, maintaining ADD with TP INR2,775.

The report says Vinati Organics is expanding ATBS capacity and expects strong volume growth, maintaining BUY with TP INR1,742.

The report says Century Plyboards' revenue grew 28% YoY driven by strong volume growth across segments, maintaining BUY with a lower TP of INR860.

The report says Kansai Nerolac's gross margin contracted 513bps YoY due to crude-linked input cost inflation outpacing price hikes, maintaining REDUCE with TP INR200.

The report says Ramco Cements' unit EBITDA remained subdued with rising debt and leverage, retaining SELL with unchanged TP of INR830.

The report says Astral's EBITDA margin declined 320bps YoY with negative operating cash flow, leading to a rating downgrade from BUY to ADD with lower TP of INR1,540.

The report says IPCA's EBITDA grew 21% YoY with margin expansion to 23%, retaining FY27 guidance, and raises TP to INR2,240 maintaining BUY.

The report says Berger Paints' revenue grew in line but EBITDA margin fell 184bps YoY due to brand investment and RM inflation, maintaining ADD with TP INR550.

The report says Aurobindo's EBITDA grew 28% YoY, ahead of estimates, with FY27 guidance retained, and revises TP to INR1,950 maintaining ADD.

The report says Apollo's EBITDA grew 29% YoY across hospitals, HealthCo and AHLL segments, and raises concerns on trade margin impact on oncology while retaining BUY with revised TP INR9,990.

The report says Titan's consolidated jewelry sales grew 24.1% YoY with in-line results but notes declining jewelry ROCEs, maintaining REDUCE with TP INR4,700.

The report says LICI posted 5.7% YoY APE growth with VNB margin at 22.3% (+470bps YoY) driven by product mix shift and actuarial assumption changes, and maintains BUY with TP INR555.

The CTFT table shows a Buy call on TRITURBINE from 04 Nov 26 where profit was booked, gaining 0.74%.

The CTFT table shows a Buy call on SKYGOLD from 04 Nov 26 where the first target was achieved and profit booked, gaining 1.62%.

The CTFT table shows a Buy call on TMB from 05 Nov 26 with stop loss 812.00 and targets 838.00/848.00, currently down 0.19%.

The Momentum Swing table shows a Sell call on NAUKRI NOV FUT from 03 Nov 26 that was exited with a loss of 1.42%.